Skip to main content

COVID-19 update

Financial difficulty assistance for customers

The following financial assistance package is available for affected Bendigo and Adelaide Bank customers nationwide:

  • Customers can apply for relief for up to six months on home loans, business loans, line of credit and credit cards.
  • Waiver of interest rate reduction for early withdrawals on term deposits prior to maturity.

Visit our customer website to learn more about what we're doing to support our customers during this time.

Trail payments

Trail will continue to be paid for loans where customers have taken up the option of a deferral of repayments for up to six months.

Broker Interview and Verification of Identification (VOI)

Adelaide Bank will accept ZipID, the Certified Identification Form or VOI via video technology.


The ZipID reference number will need to be provided in the Credit Assistance Provider and VOI declaration. The Bank will then cross check the supplied certified identity documents via ZipID and supporting documentation held on file.

The ZipID service is free for our brokers and customers. If you do not have access to ZipID already, please speak to your BDM or email

Certified Identification Form

Where ZipID is not available, the Certified Identification Form may be utilised so long as the following is adhered to:

  • Documentation sighted and certified must be a true copy of an original.
  • Acceptable categories of certifiers being two accepted by the Bank must be complied, with either a Justice of the Peace in Australian State or Territory or an Australian police officer.
  • There are Special Provisions for KYC, allowing for more verification options for Aboriginals and Torres Strait Islanders. Please see the Certified Identification Form for further information.

Please note:

  • The reason for CID use must be provided on the Consents and Declarations form completed by the broker and supplied with supporting documentation.
  • All copies of certified ID, regardless of method used, must be legible and record the following on each copy of the identification provided: “This is a true copy of an original document provided”; then print, sign your name and date.

VOI via video technology

VOI verification using a video technology facility, such as Skype or Facetime, may be used if face to face is not available.

To complete a VOI via video technology:

  1. The applicant must send a copy of their required identification documents to the broker conducting the VOI
  2. Once received, the applicant must display the original ID via video to ensure the broker is satisfied that the copies provided match the originals.
  3. The broker must:
  • certify the copies in line with our standard requirements
  • tick the “Face to Face with broker” option under the VOI declaration as the method (we are working towards updating our form)
  • in the commentary section under the CID option or as a separate diary note, make a note referencing the use of video technology for the VOI, including the technology used.

Signing Documents


Loan documents

We've introduced digital signing, making it easier and faster for your customers to digitally sign their loan documents (excludes South Australia).
View our Digital signing page for more information.

Consent and Declaration forms

We will accept a digital signature on our Consents and Declarations form using an industry provider such as DocuSign. We require a hand drawn signature through the digital signature platform.

Emailing of Loan Documentation

Where it is required, we will issue loan documentation via email to the broker. If you require this service on an application, please contact your BDM or our Partner Assist team to arrange.

We are currently working with our panel solicitors to implement a digital solution for document delivery and execution and I will provide further details on this at a later date.

Full Valuations

The Bank has approved the use of two modified full valuation methods to accommodate properties where the valuer is not able to enter the dwelling due to COVID-19 restrictions.

These include:

  • A full external street frontage inspection of the property, which may include but is not limited to a complete walk-around of the main building and ancillary improvements.
  • A partial external inspection of the property for areas that are assessable, but at a minimum from the road frontage. This may be conducted from the vehicle to avoid face-to-face contact and/or maintain social distancing.

Please note: Valuation reports where the valuer has NOT been to the property are not acceptable to the Bank. This could include a virtual external inspection using satellite images (such as ‘street view’) or video conferencing with the occupant, etc.

Ordering valuations

  • The usual process for ordering valuations via ValEx/HUB remains unchanged.
  • Where access to the dwelling is known, advise via comments to the valuer.

Contact with occupants 

  • Prior to inspection, the valuer will call and check with the occupant about access restrictions due to COVID-19.
  • This will be repeated prior to the inspection being undertaken.

Valuation report

  • The valuation will still be completed on the same proforma valuation report.
  • The valuer must clearly identify within Section 8 ‘Additional Comments’ the extent of the external inspection conducted and alternate resources that have been relied upon to complete the valuation.
  • This may include using photos from real estate portals, prior valuation reports, discussions with the occupant, photos/videos captured by the occupant through a live virtual inspection, etc.
  • Valuers will apply a risk rating of 4 or 5 to the ‘Improvements’ risk rating if one of these modified valuations have been completed.

Important Lending updates for all applications

The following changes will apply to new applications received from 3 July 2020.

Tenanted properties
Verification of receipt of most recent month’s rental income must be provided by one of the below methods

  • Rental statement or rent receipts from the Real Estate Agent or Managing Agent; or
  • 6 months bank account statements showing consistent and regular rental payments.

Where the payment amounts vary, the lowest amount is to be adopted for serviceability.
For commercial rental income only, in line with current policy a copy of the current formal lease agreement to confirm minimum 12 month remaining term must also be provided.

Untenanted properties
Where neither of the above verification methods can be provided rental income must be evidenced by:

  • A valuation by a registered valuer stating the market rent; or
  • Rental appraisal from a real estate agent or licensed valuer

Where the serviceability assessment is reliant on rental income from an untenanted property, the applicant must provide evidence of funds held in an account equivalent to 2 months estimated gross rental income. For example, for a loan using estimated rental income of $1,200pm in the serviceability assessment, $2,400 must be evident.

Unacceptable rental income
The following types of rental income are not acceptable for serviceability purposes

  • Rental income from short term lettings such as Airbnb or similar
  • Commercial rental income where property is untenanted or verification of receipt of rental income cannot be provided

We will consider applicants who are in receipt of JobKeeper payments where the applicant is currently working and the applicant’s current employment and income will be ongoing after JobKeeper payment ceases.

Income used for servicing must be the lower of:

  • subsidised JobKeeper income; or
  • current gross income based on current hours worked at usual hourly rate; or
  • income that will apply once JobKeeper ceases.

Examples of assessable income:

Scenario 1: If an applicant’s normal pay rate was $20 per hour and their hours had been reduced to 40 hours per fortnight, we would calculate assessable income as $800 per fortnight, regardless of whether the applicant is in receipt of the $1500 JobKeeper payment.

Scenario 2: If an applicant was working normal hours, but salary had been reduced to the $1,500 JobKeeper payment, their assessable income would be $1,500 per fortnight.

Please note: In instances where the applicant is not working, Jobkeeper payments cannot be used.

Where Jobkeeper subsidised income is being used, a discussion must be held with the applicant to understand the applicant’s future employment and income and the discussion must documented in your supporting commentary.

Your supporting commentary must address whether the:

  • applicant’s hours or duties have changed; and
  • applicant’s income has increased or decreased; and
  • applicant is aware of any future changes to their hours, duties or income, particularly when the JobKeeper payment ceases.

Income derived from dividend payment will no longer be accepted as an income source for serviceability purposes.

The maximum LVR for all equity release/cash out has been reduced to 80% LVR.

For proportion of cash out ≤$50,000

Submission commentary is required.

For proportion of cash out >$50,000

Submission commentary and supporting documentation is required to demonstrate the intended use of funds. The supporting documentation required is:

  • For non-structural home renovations or acceptable personal use: quote, invoice or purchase contract
  • For purchase of investment property: contract of sale OR a statutory declaration from applicants confirming that they intend to purchase property (because the loan services without the need for rental income)
  • For purchase of shares or similar investments: Written professional advice such as a Financial Planner/Adviser’s advice, which supports the use of the funds OR evidence of past history of similar investment (e.g. a statement from an active share trading account).

For proportion of cash out >$250,000

Submission commentary and supporting documentation is required to demonstrate the intended use of funds. The supporting documentation required is:

  • For non-structural home renovations or acceptable personal use: Invoice or purchase contract
  • For purchase of investment property: Contract of sale
  • For purchase of shares or similar investments: Written professional advice such as a Financial Planner/Adviser’s advice, which supports the use of the funds.

For investment property purchases where servicing is reliant on rental income

Submission commentary is required to demonstrate the intended use of funds.

A contract of sale must be provided.

Loan proceeds must be controlled at settlement.

In all cases for PAYG applicants, regardless of the employment industry type, requires a continuance of employment verification for the applicant dated within the 14 day period prior to formal approval being issued. For example, if formal approval is issued on the 14th of the month, employment confirmation must be received between the 1st and 14th.

This may be communicated to us by:

  • The broker providing a confirmatory diary note on the application verifying continuance of employment, or
  • Written confirmation from the employer on letterhead and dated.

If neither of the above are received with the submission, or if 14 days has passed since confirmation was received, the assessor will request you to confirm continuance of employment with the applicant and provide this confirmation either by a diary note or verbally confirming to the assessor.

There is no requirement to add a further employment check prior to settlement, but a customer will be able to withdraw their approved loan application should they advise the bank post approval that they have lost their employment or suffered a material change to their employment.

Our existing credit policy relating to bonus, commission and overtime income types are restricted to applicants employed in medical and 'essential services' fields (police, ambulance etc.).

For all other applicants, the inclusion of overtime, bonus and commission income must be verified by written confirmation from the employer that the income type and amount used for servicing will be ongoing.

Not acceptable for temporary or inflated overtime arrangements.

QBE has imposed a restriction on all new applications, including top-ups, refinances and cash-outs, for applicants working in industry’s most directly impacted by COVID-19 until further notice.

Refer to the QBE Temporary Embargo document and Industries Hardest Hit list for further information.

At this time, there are no changes. This will be monitored and we will provide further updates if required.

Brokers are required to confirm with all self-employed applicants whether their business is affected by the current economic downturn caused by COVID-19, specifically:

  • whether their business has sought any of the state or federal government, or banking, assistance made available in response to COVID-19, and
  • whether the customer’s business operates within any of the affected industries according to the Industries Hardest Hit list.

Applicants not affected

If the applicant/s confirms:

  • They are not affected by COVID 19 and therefore no govt or bank assistance has been sought, and
  • They are not self-employed in an impacted industry.

A confirmation via diary note must be provided with the application of the conversation with the applicant.

Applicants affected or likely to be affected

If the applicant/s confirms:

  • Their business is or will be affected by COVID-19,
  • Is self-employed in an impacted industry, or
  • The broker holds any doubt that the business is or will be affected.

The following supporting documents must be provided:

  • The three (3) most recent quarters of BAS statements,
  • The three (3) most recent months (and no older than 30 days) of bank statements for the business’s main trading account,
  • Details from the customer by way of a business plan or cash flow forecast as to how their business will continue to enable loan payments to be met.

As an interim measure, we will require all bridging finance applications to either:

  • Have an unconditional contract of sale on the existing security; or
  • For the application to show servicing on the peak debt at interest only repayments using the actual interest rate of the application (no buffering of rate).

While we update our systems with this change, we recommend discussing any scenarios with your BDM or Partner Assist on 1300 791 679 to ensure the servicing at interest only requirement is met.

Business Continuity Plan

To ensure continued service delivery during this time, we are taking a number of actions:

Adelaide Bank conducts all of our operations and support onshore and the vast majority of our staff have been provided the option and ability to work remotely, if required. This is inclusive of our Loan Processing departments to ensure that the impact to customers is minimal. We are discussing and monitoring the situation daily and will continue to follow the advice of the Australian Government health authorities and travel directives and implement risk mitigation strategies as appropriate.

You will continue to be supported by Partner Assist via phone and email whilst they work remotely. As our phone services are reliant on consistent internet provision there may be some instances of poor connection and in these situations we recommend a follow up email to Partner Assist.

We're here to help

Find your local BDM

Our BDMs are ready and waiting to help you.

Call Partner Assist

Get help with loan scenarios, lending policy, procedures and more. Available Monday to Friday between 8:30am and 5:30pm (CST).

Submit a scenario

Tell us about your loan scenario and we'll get back to you.

Adelaide Bank logo
Connect with us
Bank-linkedin Bank-youtube
This website is for broker use only and any advice provided is of a general nature only. Information on this page can change without notice to you.
Credit provided by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. GPO Box 1048, Adelaide SA 5001. Terms conditions and lending criteria apply.
© Copyright 2021 Adelaide Bank a division of Bendigo and Adelaide Bank Limited.