MPA Roundtable Event

MPA Roundtable Event

MPA's third annual live-streamed Aggregator Roundtable held on 11th of May was moderated by Otiena Ellwand, editor of MPA magazine. The discussion covered topics on where aggregators stand on accreditation and commissions, the Productivity Commission draft report and 'best interest duty', the Royal Commission's investigation into the home loan market and scrutiny of the industry, and how aggregators are supporting the broking channel.

The interactive discussion featured speakers from Choice Aggregation, Connective, FAST, Outsource Financial, Plan Australia, Specialist Finance Group and Vow Financial.

Watch here

New process for Renew/Restart Resi range

1. Pricing. The new lower pricing is detailed in the attached rate card. We have cut costs and margin so that on a like for like basis, we now provide more competitive pricing than Pepper Retail. However, there are some key aspects to the pricing you need to be aware of:

a. Differential value proposition to Pepper retail - We retained the best parts of our pricing approach, risk fees only payable on higher LVR loans.
b. Process efficiencies means our customers save - Rates are now considerably cheaper. Pricing is now on a like for like basis lower than Pepper Retail. This means for just about any scenario we can offer a lower cost solution to that of Pepper Retail, in Near Prime and Specialist, this means that either:

  • The client pays no risk fee savings considerably in upfront fees, plus we have substantially reduced rates.
  • If the client pays a risk fee their rate will be lower than Pepper Retail.
  • We can even offer special pricing for a client that would otherwise not pay a risk fee, but is focused solely on rate.

If you are up against a broker that is offering a Pepper retail product, you will be able to offer a lower cost solution irrespective of LVR.

c. The new pricing is available along with a standard commission payable of 0.715% (GST inc) Upfront Commission and 0.165% (Gst inc) trail across the range. Our new rate card is attached for your reference.

2. New Special Offer. To celebrate the relaunch, we are pleased to be able to announce a new special offer on the Renew Near Prime product range. For new applications from now through to 6th July 2018 we are introducing a new $0 upfront fee promotion. The following fees will be waived on the Renew-Near Prime loans (excluding construction loans):

  • Establishment Fee
  • Title Protection Fee
  • Legal Fees

* For non-standard applications, prestige or multiple security deals, some fees may be payable.

But to access this new pricing and special offer, you will need to be aware of the new process. Good thing is initial submission is unchanged.

3. New process. Initial loan submission process unchanged, but you will be dealing directly with the funder (Pepper White Label) for these loans. To ensure your customer access the correct products, you will need to follow the new process which is effective immediately:

a. Loan submission via Apply on-line and use of the Group Lending - Resi forms remains the same.
b. Within 1 business hour of the apply on-line submission and supporting documentation being received, files are transferred directly to Pepper for assessment and processing (which includes valuation and credit file ordering and solicitor's instructions).
c. For the renew - restart product range only, the funder, Pepper will be in direct contact, but if you need to request information for file updates, you should contact whitelabel@pepper.com.au or call 1800 737 737.
d. Initially Apply on-line back channel messages will not be enabled, however, you will receive directly from the funder the following milestones:

  • Requests for more information
  • Conditional Approvals
  • Formal Approvals

Once solicitors are instructed, they will also provide you with updates on progress towards settlement.

Any questions, please don't hesitate to ask the team.

Click here to download the information in PDF format.

Vow Roadshow and Vow Conference - Remember to Register now

Registrations are now open for the Vow National Roadshows. Each roadshow is an opportunity to learn new skills to develop your existing network. Each event will have a full trade area featuring each of our preferred partners, a renowned economist will be speaking on the issues in the marketplace today and provide insightful and invaluable advice and it's a great opportunity to network with your colleagues and business partners.

Click below to register for your cities Vow National Roadshow:

The annual Vow National Conference is taking place from the 16th - 18th September 2018 at the Hilton Hotel in Queenstown New Zealand. Please register here for the special early bird rate. Airfares to Queenstown are currently cheap, so be sure to secure your spot and please come along.

Registration for Vow National Conference

Prospa running new EOFY offers for business loans

As the end of financial year is fast approaching and many businesses need extra funds to support cash flow, run promotions, take advantage of bulk purchase discounts, or claim the $20,000 instant asset write off. With our end of year offers not only can you support your clients with fast, easy access to funds - you can benefit too.

Prospa has three EOFY offers to entice new clients and new loans. These brand-new offers are outlined below to celebrate the EOFY.

  • Clients pay nothing until 2 July on new loans.
  • You earn 5% commission (fixed) for a limited time.
  • Exclusive partner offer, a $10,000 low doc business loan.

For further details on Prospa and Business Loans made easy click here.