The Cooperative Bank increases Living Expenses and Minimum UI
All Living Expenses have been increased today and will affect all future calculations for serviceability.
Uncommitted Income requirements have also changed, and now include a new minimum surplus of $300 per fortnight for all loans with an LVR below or equal to 80%, where total lending exceeds $600,000. In addition, the minimum surplus for lending exceeding 80% LVR (low equity) has increased to $500 per fortnight.
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