The change comes weeks after new chief executive George Frazis, a former senior Westpac banker, formally stepped into the job of running the regional bank. One of the key challenges Mr Frazis is facing is to restore growth in its core retail bank.

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BoQ said that it would accept one month of transaction statements to check the expenses of people who had a clean credit history; had their taxes withheld by their employer on a pay-as-you-go basis; had a loan-to-valuation ratio of no more than 80 per cent; and did not require lenders' mortgage insurance. Various other types of customers will still need to provide statements going back three months.

The note also asked brokers to discuss key expenses with customers, including debts that were not disclosed, or undeclared child support, child care or medical expenses.

"BoQ is simplifying aspects of our expense verification process to ensure we are focusing on areas
with greater risk," the bank said in the note to mortgage brokers.