Heartland Reverse Mortgage Interest Rate Change

On 6 July 2022, Heartland's Standard Reverse Mortgage Variable Rate will increase to 6.05% p.a. (comparison 6.07% p.a.*) from 5.50% p.a. (comparison 5.53% p.a.*).

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Their new fee schedule can be found here.

If you have any questions, refer to your Vow Financial BDM.

Ubank for brokers across Australia

It's been eight weeks since ubank launched to brokers across Australia and they have loved every moment of it.

Why is ubank in the broker channel?

They understand the vital role brokers play in the home lending space - especially given broker market share has grown to almost 70%. They want to reach and help more customers and believe working together with brokers will allow them to do just that. You'll notice their offers are the same for both direct and broker experiences.

What are they going to do differently?

In the past few weeks, they have already:

  • supercharged their assessment team (almost doubling headcount);
  • added extra team members in credit;
  • introduced specialised marketing support;
  • recruited more BDMs; and
  • promoted three BDMs to State Managers

All this is laying the foundations for them to offer their brokers the best possible experience. The ubank experience. And they are only just getting started.

How committed are they to brokers?

Short answer is they are both feet in. They want their brokers to experience a unique and outstanding experience in the home loan submission, approval, and settlement process. Coupled with an award-winning app that your customers will love.

With everything they have planned they hope you are looking forward to joining them on the journey together. Now is the perfect time to get accredited.

If you have any questions, reach out to your ubank BDM.

For any other enquiries, refer to your Vow Financial BDM.

Resi Select - Building your business together

Resi will work in partnership with you to provide a simple, quality home loan at great rates with exceptional service to both you and your clients. Discover the benefits of Resi Select.

Benefits for clients

  • Simple home loans, packed with features
  • Low fees
  • Convenient redraw facility
  • Peace of mind

Benefits to the broker

  • It's all about you
  • Dedicated Specialists working with you
  • Easier and more efficient
  • Free Valuations

Read more about it here.

To find out more reach out to your Resi BDM or email brokersupport@resi.com.au

Brighten Lender Update

Brighten Lender Update July 2022

Recommencing Pre-Approval Service
Brighten Lender is pleased to advise that they have recommenced the acceptance of Pre-Approval applications.

Brighten Interest Rates Decision - New Business
Last week, the Reserve Bank of Australia (RBA) raised the official cash rate by 0.50%. In response to the cash rate decision, Brighten has made the following changes to Brighten home loan products, effective 12th July 2022.

1. Full Doc
The following interest rates are now applicable to new Brighten Empower Prime and Brighten Empower home loan applications.

2. Alt Doc
The following interest rates are now applicable to new Brighten Boss Prime and Brighten Boss home loan applications.

3. Non-Resident
The following interest rates are now applicable to new Brighten Evergreen home loan applications.

4. Brighten Premium (188B/C Visa Holders)
The following interest rates are now applicable to new Brighten Premium home loan applications.

^Of the loan amount. #The comparison rate is based on a secured loan of $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Key Features

  • Interest Rate Based on Security - Not Purpose
  • Application Assessed on Merits
  • Fully Assessed Pre-Approvals
  • Existing Debts Assessed at 125% of Actual Repayments
  • Cash Out for Business Purpose Accepted (terms and conditions apply)
  • Option to Sign Loan Documents Electronically via DocuSign

If you have any questions, refer to your Vow Financial BDM.