Resi Product Spotlight: Renew/Restart Range

With Credit parameters continuing to be tightened across the industry, more and more brokers are turning to Specialist funding sources to provide solutions for their customers. The Resi Renew & Restart range of loans not only provides more flexible prime solutions for those that don't quite fit the mould of the mainstream lenders, but we also provide the most competitive Near Prime and Specialist Lending solutions in market.

Here is a 2-minute wrap up of what we can offer:

Near Prime: No risk fees up to 85% on most products

  • Unique pricing proposition which minimises entry costs (no risk fees for many customers) making our solution the cheapest in market for those that need a funding solution as a stepping stone back to prime lending.
  • Full Doc, Alt Doc (Declaration of financial position plus one of: Accountant Letter; 6 months Bank Statements or 6 months BAS) Construction (both Full Doc and Alt Doc) solutions are available.
  • Unlimited defaults, judgements and writs up to $1,000 accepted (paid or unpaid)
  • Unlimited defaults, judgements and writs > $1,000, registered > 24 months (paid or unpaid) accepted
  • Discharged from bankruptcy (1 day accepted)
  • Debt consolidation for an unlimited number of debts including payout of ATO debts

Our loan product is the best in market for someone that needs a solution today and intends to refinance into prime within 2 - 4-year time.

Specialist: No risk fees up to 85% on most products

  • Unique pricing proposition which minimises entry costs (no risk fees for many customers) making our solution the cheapest in market for those that need a funding solution as a stepping stone back to prime lending.
  • Full Doc, Alt Doc (Declaration of financial position plus one of: Accountant Letter; 6 months Bank Statements or 6 months BAS)
  • Unlimited defaults, judgements and writs up to $1,000 accepted (paid or unpaid)
  • Unlimited defaults, judgements or writs from 1 credit event < 12 months (paid or unpaid)
  • Discharged from bankruptcy (1 day accepted)
  • Cash out up to 80% LVR for acceptable purposes including renovations and business use
  • Debt consolidation for an unlimited number of debts including payout of ATO debt

Submission

  • Submission is via Apply on-line via Resi - Renew / Restart range, but credit assessment is carried out directly by our funder fast-tracking the process for you.

Resi Rate Sheet

Finally, gone are the days where borrowers seeking a specialist lending solution have to put up with basic loan functionality. Our solutions offer 100% offset facilities and a great on-line banking platform. At Resi with our Renew/Restart range, we act as caretakers for your clients until you can place them in a Prime Loan offering! Interested to find out how to secure long terms clients via specialist lending, get in touch with the team, they will step you through the process.

Sales Team 1800 737 448 option 1 or brokersupport@resi.com.au

Craig Herden National Sales Manager 0478 537 841 craig.herden@resi.com.au
Tony Wakim BDM NSW 0416 409 100 tony.wakim@resi.com.au
Jason Hulbert BDM VIC 0468 755 419 jason.hulbert@resi.com.au

The 2019 National Roadshow Presentations

presentation

The presentations for the National Roadshow are now available for viewing on VOW Professional.

Vow Professional

BUTN 24-hour Upfront Commission Payments

Over the past 9 months Vow have been working on an exciting new project with BUTN, a new fintech providing integrated cashflow products for businesses like yours.

Due to go live exclusively with Vow in April, BUTN will provide you access to your commissions on the day of drawdown. Members simply click BUTN and receive their funds within one business day.

No need to go through lengthy approval processes or submit financial data. Simply click BUTN to receive your commission. Access to cashflow is there when you need it. No ongoing fees or facilities to maintain.

During Easter BUTN will be integrated with Vow.net and the Vow websites. Want to learn more? Visit www.butn.co or call 1300 99 BUTN.

Scottish Pacific's SME Growth Index Report

The latest Scottish Pacific SME Growth Index has been released, offering in-depth insights into the challenges, market conditions and growth expectations facing SMEs Australia-wide.

Key findings from the Scottish Pacific Growth Index March 2019:

  • Non-banks likely to surpass main banks as business owners' first choice for funding growth in 2020.
  • Three in four business owners anticipate that access to business funding will become more difficult due to the property downturn and Royal Commission.
  • With a Federal Election looming, business owners are crying out for company tax cuts and a reduced regulatory burden.

Download our latest SME Growth Index Report

VowNet: Planned Changes for Live Deployment

The following changes have been deployed:

  • Sensys address, email and phone verification. Replaced Google (for addresses) and added new verifications for email addresses and phone numbers.
  • New bankstatements.com.au integration. Invite client to complete bank statements via email (in addition to client portal and video conference options) and map expenses analysed by bankstatements.com.au to the deal for broker review and comments.

We will have been notifed via in app message once these were deployed live (with articles and video examples).

Message from the MFFA CEO, Mike Felton

As you know, we have been working intensely to advocate on behalf of the mortgage broking industry in the wake of the Royal Commission. With the calling of the federal election for Saturday May 18, we are keen that all of our efforts to advocate for a better outcome for customers and brokers are continued, and indeed intensified.

Many thousands of brokers and customers have already reached out to their local members both through the MFAA email campaign, as well as through face-to-face meetings. We have updated these campaign letters to MPs to reflect the changes that have occurred since the Royal Commission recommendations were handed to Government. As such, if you have not recently reached out to your federal member, we strongly encourage you to again make your views known by accessing brokerbehindyou.com.au.

We are keen to ensure that all politicians understand that a lender-paid, commission-based remuneration structure remains the best way to guarantee strong customer outcomes, a viable broker channel and a competitive home lending market. We also want to reiterate that the case for the removal of trail commissions has not been made.

Now the election date has been set, the primary focus for all sides of politics is on campaigning for the upcoming ballot. The Government is in 'caretaker' mode, meaning it cannot enact new policies until a new Government is formed. This also means that it is challenging for us to engage with key Government departments such as Treasury.

Once the next Parliament is elected on 18 May, there will be greater opportunity to progress our conversations with Government and Treasury to protect the interests of the mortgage broking industry.

A key ongoing focus is to ensure the new Government understands the need to preserve the economics of our industry. It is critical that any potential changes made to broker remuneration are designed to protect customer outcomes by preserving competition, choice and access to credit. We will continue advocating that the only way to achieve this is to safeguard broker viability.

We will also continue to communicate to policy-makers that this is an extremely complex policy area, and many of the key issues have yet to be resolved within specific, stated policy positions. We will be reiterating the importance of taking into account the potential unintended consequences of the many considerations that affect such complex policy and the importance of industry engagement as they work through the process.

If changes are to be made then we will continue to stress that any such changes need to be structured in a manner that compensates both the broker and the aggregator for the full economic value foregone over the life of a loan.

Finally, the Government's decision to leave the current arrangements for mortgage broker trail commission in place (pending a review in 2022) is an acknowledgement that the case for the removal of trail commission has not been made; nor has it been demonstrated that existing trail arrangements lead to poor customer outcomes.

We will continue to argue strongly that trail provides a strong control mechanism within broker remuneration, as it is contingent income that was previously paid upfront, but which is now paid over the life of the loan - provided that the loan does not go into arrears, is not refinanced and does not involve fraud.

As the Easter break is upon us, this will be our last "Message from the CEO" until after Easter, so I would like to take the opportunity to thank you for your ongoing support of the Don't Kill Competition campaign and grassroots advocacy during a very busy first quarter. I believe we have made great progress this year in protecting our wonderful industry, whilst noting that there is a lot of work that lies ahead of us once the new Government has been announced.

I wish you all a well-earned rest with your loved ones over the Easter break.

Vow Financial Partners with MyConnect

We're pleased to announce that we've added a new referral partner - MyConnect.

MyConnect provides your clients a FREE utility connection service that takes the stress out of moving home.

They connect electricity, gas, telephone, internet, and pay tv to your client's new home, ready for move-in day.

MyConnect is an independent service provider ensuring they can cater to your client's needs, providing choice of retailers and an unbiased service.

Referring is easy too- we have a push button integration through Vownet to forward referrals- please view the 'how to' flyer.

I love offers like this as they maximise not only the relationship we have with our clients, but also the return per client.

Being a zero cost service to your client, this provides a great point of difference and creates a further enhanced service experience.

Shortly you will receive your Agent ID for this integration so you can start referring.

Our MyConnect representative (Andrew Larter) is available at anytime to assist with any queries or questions.

You can reach him on andrew@myconnect.com.au or 0498777057.

Download the Co-Branded Vow Financial Flyer