Upcoming Banjo Webinar

COVID-19 has changed many things in our world. How has it affected commercial lending? Join Banjo Loans CEO, Guy Callaghan, and other industry experts as they join the panel and explore the current lending environment, and what could this mean for brokers.

Date: 21 October 2020

Time: 11:00 am to 11:45 am (AEDT)

Click HERE to register.

Stay Safe and Secure

In these volatile times, it is essential to stay safe and healthy - not just physically and mentally, but online as well. According to studies, an increased number of Australians are targeted with fraud and scams daily, and it can be very easy to fall into these traps especially when it comes to their banking details.

Hence we have put together a quick guide on how to be more cautious online.

Stay alert for fraud and scams

  • Fake emails: scammers that pretend to be an individual or an organisation(these emails are known as 'phishing' in the cyber world). This email asks you to follow a link and then enter your card details or other personal information in order to login.
  • Cold call: recently, there has been a spike in scammers calling customers and posing as someone else to request debit/credit card details or provide an SMS security code. If you receive a call like this, make sure you don't give out any details and hang up straight away.
  • Survey scam: this scam poses as well-known organisations asking you to complete a survey. Typically at the end of the survey, you've won a prize however you're then requested to pay shipping costs of about $2. Once your card details have been entered, the scammer starts debiting your card. If you're unsure, contact the organisation directly to confirm if the SMS/email survey is legitimate. Do not click on any links and delete this email/SMS straight away.
  • Amazon scam: this one involves an email or phone call from scammers pretending to be from Amazon. Scammers claim that you're due for a refund and prompt you to give your card details. If you receive an email or call like this, make sure you don't reply or provide any details.
  • Mail delivery related scams: this scam tries to get access to your personal information by claiming to be from postal delivery services, both via email and SMS. The email prompts you to pay for shipping costs for parcel delivery and gives you a link to a fake website which tries to get you to enter your information. Do not click on any links and delete this email/SMS straight away.

Identifying these fraudulent emails

Things to keep an eye on while going through your messages or mails:

  • poor spelling or grammar and similar (but not exact) email addresses, names, logos and links;
  • messages asking you to urgently verify your account, or log in to pay a bill or fine; or
  • requests from overseas asking you to forward money, or letting you know that you've won a prize.

Stay safe and secure online

  • Don't share your login details with anyone to anything
  • Don't use an unauthorised link to log in to a website or platform
  • Choose strong and secure passwords and remember to change them regularly

Resi Renew Update

RESI Renew is proud to announce a new rate sheet which sees rates drop by up to 0.53 basis points across the Near Prime product Offering.

For a limited time only - the title protection fee of $400 is also being waived.

RESI Renew/ Restart is now cheaper than ever!

For more information, visit resi.com.au or contact:

Vic/Tas/SA/WA - Arthur Karvelas - 0418 350 312

NSW/QLD - Jerome Porcia - 0468 755 419

Broker Support - brokersupport@resi.com.au

Rate Card

Suncorp Update

Are your customers planning their dream reno? Help them calculate how much it might cost.

Suncorp Bank has launched a renovation calculator^ to help prospective renovators estimate the cost of various home upgrades.

Help your customers to make their house a home

With finances top of mind for most Australians at the moment, many Aussies are thinking about how they can make their house feel more like home. The renovation calculator^ is a handy tool to use with your customers to help them get closer to their home goals, by understanding the costs involved.

Create your own Refinance lead campaign

With the renovation trend in Australia steadily increasing, it's a great time to be actively engaging your potential customers about refinancing for renovation purposes.

^Directs to a calculator operated by CoreLogic; not suncorp.com.au

La Trobe Update

In light of the recent budget announcement on changes to personal income tax rate thresholds, La Trobe has updated their serviceability calculator.

The calculator includes the new tax rates, which will ensure your clients' borrowing power is improved immediately, with increases to the:

  • low-income tax offset (LITO) from $445 to $700;
  • top threshold of the 19% personal income tax bracket from $37,000 to $45,000; and
  • top threshold of the 32.5% personal income tax bracket from $90,000 to $120,000.

Login to La Trobe's Broker Portal now to download the updated serviceability calculator.

Please contact your BDM with any questions or for further support.

Oak Capital Update

Chief Executive and Co-Founder of Oak Capital, Stephen Mitchell has announced the full acquisition of Oak Capital. He will now form a group of specialist lending companies, in partnership with his other business, Resicom, that began in 2006.

Oak Capital was established in 2013 to service the growing Private Lending space in Australia. Since then the company has established and grown its two Mortgage Fund options, lending mortgage products for business purposes secured by real estate nationally. Four partners initially founded Oak Capital, and overtime that has been consolidated to now just that of Mr Mitchell.

Resicom was established in 2006 as a boutique mortgage management firm specialising in the second tier lending market, partnering with some of the largest Non-Bank lenders and originating more than $500M of loans per annum. Resicom is one of the most well-known specialist lenders in the Australian market.

Both companies will continue to retain their separate brands in the market as the group consolidates its position and staffing during the pandemic. Combined, the companies have over 30 staff with its head office in Collins Street Melbourne and combined Assets Under Management (AUM) of circa $700M.

This unique structure of Mortgage Funds complemented by specialised mortgage management products will ensure that the group is the 'go-to' provider of specialist and bespoke lending to its broker, accountant and other intermediary clients. The group has made new appointments, employing six new staff in the last three weeks remotely in Victoria, which Mr Mitchell said was no mean feat. Key management appointments include Craig Robertson, already a 5-year member of Resicom is moving to Head of Business & Risk, Janai Hunter, again an 8-year Resicom veteran is becoming the companies Head of People & Culture. In a fillip for the company, Oak Capital has also appointed Nick Green as Head of Distribution.

Mr Mitchell welcomed Nick to both the Oak Capital and its subsidiary Resicom. "As we scale up our business after the full acquisition, Nick's knowledge, experience and networks will enable him to make a major contribution ", Mr Mitchell said further, "In particular, Nick will spearhead our combination of Funds Manager and Mortgage Manager, drawing on our ability to provide brokers and referring clients with a streamlined yet flexible product offering with competitive pricing structures".

Further to this, Oak Capital Director and Head of People and Culture Janai Hunter added that "Nick's appointment heralded a new chapter in the group's history of providing bespoke results for our client base. The national distribution team is well placed for success in 2021 and beyond".

With the COVID-19 pandemic inflicting change upon small and medium businesses throughout Australia, Oak Capitals residential and commercial product range stands ready to assist the market with fast and reliable bespoke non-bank lending options.