CALIA+ to be withdrawn from sale from 29 June 2018

In recent years, we have seen limited demand for the CALIA+ facility which has led to a slow decline of the product overall.

We have therefore made the decision to remove the product from sale. From 29 June 2018, we will no longer accept new CALIA+ applications.

All existing CALIA+ clients will be able to continue with their current facility however from 29 June 2018, there will be a number of limitations including;

  • no credit limit increases;
  • no changes to loan borrowers
  • no security additions or substitutions (including both property or cash); and
  • no extensions of loan term.

If you wish to increase a client’s CALIA+ Investment Loan limit, this will need to be separated from their CALIA+ facility and refinanced as a CommSec Adviser Services standalone Investment Loan.

Existing clients will continue to enjoy all other existing functionality of their CALIA+ facility until their loan term expires. For more detail of these changes, please review our Frequently Asked Questions.

Client Notification

Affected clients will shortly receive a letter in the mail notifying them of this change.

Your Action Required

If you have already had conversations with a client in relation to a new loan facility or changes to an existing loan facility, please ensure we receive the relevant paperwork for processing prior to 29 June 2018.

More Information

If you have any questions about this change, please speak to your BDM, Relationship Manager, or call us on 1800 252 351.

Published: Tuesday, 08 May 2018