ANZ rolls out home loan policy changes to aid self-employed Australians

Earlier in July, Westpac halved its income assessment to one year.

ANZ is making changes to its home loan policies with the goal of making it easier for self-employed Australians to purchase a home.

Key changes include allowing business overdrafts to be amortised over 10 years, rather than seven.

ANZ will also use actual repayment as part of the assessment instead of adding a 3% interest rate buffer. This is expected to make it easier to qualify for a home loan, the Australian bank said in an announcement.

Self-employed customers who receive income through director fees or company dividends will now only need to provide one year of income documentation, rather than two.

The updates come in response to customer feedback, which highlighted challenges faced by small business customers when applying for a loan due to irregular income patterns.

Earlier in July 2025, Westpac also rolled out changes to its home loan requirements for self-employed Australians. Theirs included a one-year income assessment, halving the income paperwork required from the earlier two years.