Introducing the Agility Quick Start Product

Resi is pleased to announce the new Agility Quick start product. This product is for First Home Buyers and will allow for 95% LVR PLUS LMI (up to 98% in total LVR)

Key Features:

  • 100% Redraw offset
  • No annual or monthly fees
  • Non-Genuine savings
  • FHB Purchase only
  • Max Loan size of $1,150,000
  • No Application fees

For all fact sheets, rates and product information please visit the Vow Financial Intranet Or please contact your State BDM:

Sales Team 1800 737 448 option 1 or
Craig Herden National Sales Manager 0478 537 841
Tony Wakim BDM NSW 0416 409 100
Darren McLeod BDM VIC 0468 755 419

New Learning Available in Vow Professional

Professional 2.0 is your one-stop shop for CPD and Professional Development learning. Whether its bite- sized micro learning or a full program of studies, Professional 2.0 has something for everyone.

Check out the new content released in September 2019:


ASIC's enforcement update - August Update

ASIC has released its enforcement update for the period from January to June 2019

Partner Webinar: Self Employed Workshop with ANZ

ANZ BDM Caroline Rodgers will go through the detail of the self-employed applications, including documentation requirements, policy considerations and the process for different entity structures. Caroline will discuss the different financials and tips and hints for submission.


Partner Webinar: BOQ Partnering with You

Following on from their successful roadshows, Andrew Carter from BOQ will be joining us to share the last 12 months of change at BOQ Broker which will provide you with insights into achieving together with BOQ Broker. Don't miss out on this fantastic webinar from our partner as they show you how BOQ Partners with YOU!


Life After the Royal Commission

Sean Preece, our Chief Risk Officer will interview a legal expert to gain insight into life after the royal commission.


Time Management

In this short course we provide you with practical tips, tools and skills to improve time management



In addition to releasing new courses and content, the Learning and Development team regularly reviews published content to ensure it remains up to date and relevant. Here are just a few of the most recently updated content:

Internal Privacy Policy

This course explores our privacy policy commitment in respect of personal information that is held and the use of that information. This policy applies to everyone we employ or have business relations with. This includes individuals such as employees, contractors, franchisees, but also business entities, such as vendors, enterprise customers or third party service providers.


Complaints Handling & Dispute Resolution

Complaints Handling & Dispute Resolution Policy V4 outlines Yellow Brick Roads licensing obligations, provides guidelines for complaint management and outlines the internal dispute resolution (IDR) and external dispute resolution (EDR) process.


Anti-Money Laundering and Counter Terrorism Financing Policy

Money laundering is the concealment of money which was made by carrying out illegal activities. Terrorism financing involves the use of money raised from legitimate sources, such as donations and business profits as well as money from illegal sources to fund terrorism. Those involved in terrorism financing often use techniques similar to money launderers.


Supervision, Training & Monitoring Policy & Framework

Each of the Yellow Brick Road Group's Australian Credit Licensees and Australian Financial Services Licensees (collectively, Licensees) has a duty to monitor and supervise the actions of all representatives authorised under its licence (Representatives). The Group is committed to abiding by this duty, and additionally, to monitoring all staff who undertake activities that involve credit assistance or financial service related functions, including: Responsible Managers, senior managers, administration staff and para-planners.


If you have any questions relating to the Professional platform, please do not hesitate to contact

Macquarie, ING among several lenders to cut rates

Author: Charbel Kadib

Source: The Adviser

A number of non-major lenders have reduced their variable home loan rates, most of which have fallen short of the full 25 bps cut.

Several non-major lenders have announced home loan rate reductions following the Reserve Bank of Australia's (RBA) decision to cut the cash rate to 0.75 per cent.

The latest rate changes are as follows:


Macquarie's mortgage rates have been cut by 15 bps, effective from 17 October. From the effective date, Macquarie's owner-occupied variable rates will start from 3.09 per cent.


ING has reduced its variable mortgage rates by 15 bps. The changes will apply to both new and existing customers from 16 October, after which its rates will start from 2.99 per cent.


Suncorp has lowered its variable mortgage rates by 15 bps, effective from 18 October.

Once the changes come into effect, Suncorp's variable mortgage rates will start from 3.03 per cent.

Bendigo Bank

Bendigo Bank will reduce all variable home loan interest rates by 15 bps.

The non-major will also reduce its business variable rate term loans and overdrafts by 20 bps.

Bendigo's managing director, Marnie Baker, commented: "We take into account an array of potential outcomes when deciding on rate changes, particularly in a record-low interest rate environment.

"These rate changes carefully consider the diverse interests of all stakeholders, the performance of our business, our market competitiveness and our deep connection with, and responsibility to, communities right across our national network."

Bendigo's mortgage rate changes will be effective from 15 October 2019, while business rate changes will be effective from 25 October 2019.

AMP Bank

AMP Bank will reduce interest rates across all variable rate home loans by 15 bps, effective from 14 October.

AMP Bank CEO Sally Bruce commented: "We are managing our business in a very active market, and decisions like this are considered carefully and thoroughly.

"We remain committed to providing competitive rates for our new and existing customers, and today's decision has been influenced by continued pressure on costs as well as a desire to balance the interests of home owners and savers."


BOQ has reduced its variable mortgage rates by 10 bps, with the exception of investment loans with interest-only terms, which have been cut by the full 25 bps.

BOQ's cuts will take effect on 25 October.

Lyn McGrath, group executive of retail banking, commented: "This is a decision BOQ has carefully considered, balancing the needs of our customers in this historically low interest rate environment."

Virgin Money

BOQ subsidiary Virgin Money has reduced its variable mortgage rates by 15 bps, with the exception of investment loans with IO terms, which have been cut by 20 bps.

These changes will take effect on 25 October 2019.

Virgin Money CEO Greg Boyle said: "We've carefully considered the needs of our customers when making this decision."


MyState has passed on 15 bps to its variable mortgage customers, effective 14 October 2019 for new loans and 29 October 2019 for existing loans.

Following the changes, MyState's owner-occupied base variable rate will fall to 3.23 per cent.

MyState Bank's general manager banking, Tony MacRae, said: "With the Reserve Bank cash rate at record lows, our changes are aiming to balance the needs of both our deposit and lending customers.

"We are continuing to work hard to maintain competitive rates for our deposit customers, many of whom are saving towards a specific goal or are self-funded retirees.

"Decisions such as these are difficult, and we certainly have not taken this decision lightly. We believe this delivers a fair balance of outcomes for both deposit and lending customers".


HSBC Australia has reduced its variable mortgage rates by 15 bps.

From 21 October, HSBC's variable rates will start from 3.02 per cent.

Heritage Bank

Heritage Bank has lowered its variable mortgage rates by 15bps.

The bank has also announced cuts to its personal loan and credit card rates, which it has slashed by the full 25bps.

Heritage's acting CEO Paul Williams said: "A reduction in interest rates is good news for borrowers, but not so good for depositors, especially when rates are already at their lowest point in history.

"We know there are people who depend on the interest they earn from deposits to fund their living costs.

"Two-thirds of our customers are depositors, and only one-third are borrowers, so we have to consider what's best for everyone."

He added: "The reality is also that we don't have the big profit margins of the majors, because we always look to provide great value to our customers, so we have less room to move.

"We've passed on as much o4 f the RBA rate cut as we can afford, while balancing the needs of our customers as a whole."

The rate cuts will come into effect from 15 October.

Auswide Bank

Auswide Bank has lowered its variable mortgage rates by the full 25 bps.

The bank's variable mortgage rates now start from 3.24 per cent.

Bank Australia

The member-owned bank has reduced rates by 10 bps, effective from 22 October.

Once the changes come into effect, Bank Australia's variable mortgage rates will start from 3.18 per cent.

Newcastle Permanent

Regional lender Newcastle Permanent has reduced variable mortgage rates by 13 bps.

From 22 October, the lender's variable mortgage rates will start from 3.19 per cent.


FreedomLend has dropped rates by the full 25 bps.

The non-bank's variable mortgage rates will now start from 2.79 per cent.


Qudos Bank has reduced variable rates by 15 bps, effective from 15 October.

Once the changes come into effect, rates will start from 3.13 per cent.

P&N Bank

P&N Bank has lowered its mortgage rates by 16 bps, effective from 15 October.

The lender's rates will start from 3.47 per cent.


RAMS will reduce its variable mortgage rates by 15 bps.

From 16 October, RAMS' rates will start from 3.86 per cent.


RACQ Bank has lowered its variable mortgage rates by 15 bps, effective 8 October.

Once the changes come into effect, the lender's rates will start from 3.24 per cent.

These changes follow cuts from all of the big four banks and non-bank lenders Athena Home Loans, Homestar Finance and Reduce Home Loans.

All four major banks fell short of passing the full 25 bps cut to home loan customers, with the moves sparking criticism from Commonwealth Treasurer Josh Frydenberg.

"The banks have a lot of explaining to do," Mr Frydenberg said.

"This is very disappointing by the banks, and customers should vote with their feet."

The Treasurer encouraged borrowers to consider switching to alternative lenders with lower mortgage rates.

"Now, some of the smaller lenders have actually passed on this rate cut in (full)," he said.

"People should shop around, get the best deal, but also make their displeasure known to their banks because the rate cuts should be passed on in full, and that would be a good thing for consumers."

Suncorp highlights broker utility in Treasury submission

Author: Charbel Kadib

Source: The Adviser

The non-major bank has lodged a submission to Treasury as part of the consultation process for the proposed best interests duty, in which it has stressed its support for the "critical" broker channel.

The deadline for submissions in response to the Morrison government's National Consumer Credit Protection Amendment (Mortgage Brokers) Bill 2019 has now passed.

The draft bill contains a new bests interests duty obligation on mortgage brokers, as recommended by commissioner Kenneth Hayne in the final report of the banking royal commission. As an extension to the best interests duty, the bill builds on remuneration reforms proposed by the Combined Industry Forum.

The proposal also includes a provision to limit the period over which commissions can be clawed back to two years and prohibits the cost of clawbacks being passed on to consumers

In a statement to The Adviser, Suncorp Bank has revealed that it has used the opportunity to lodge a submission to highlight the utility of the broker channel.

"Suncorp believes a viable and ethical mortgage broker channel is critical in driving stronger banking competition in Australia and providing greater consumer choice," the bank noted.

The bank joined broking industry stakeholders in welcoming the new best interests duty provision, adding that it would further strengthen the broker proposition.

"We strongly support measures, such as a best interests duty, which provide continued customer confidence in mortgage brokers," the bank added.

"(We) will continue to actively participate in discussions about how we can support a sustainable mortgage broker industry and deliver better outcomes for customers."

Treasury is yet to publish the full cache of submissions. However, broking industry leaders have previously revealed that they would use the opportunity to lobby for reform to current remuneration arrangements.

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