Macquarie's Campaign for Eligible Clients

Eligible clients who settle a new Macquarie commercial loan between 19 August 2020 and 31 October 2020 will receive $1,000 cashback to their account.

To take advantage of this offer, the client /counterparty will need to meet the following requirements:

  • ABN Holder
  • 60-month term only
  • $20,000 minimum amount financed (excluding brokerage)
  • Dealer sale only (no private sales/sale and leasebacks)
  • Monthly payment by direct debit only
  • Settlement prior to 31 October 2020.

Clients who meet the above requirements and take part in this offer will receive $1,000 cashback to their account within four weeks of successfully making their first scheduled repayment.

How can you help your clients with this:

  • Reach out to your commercial clients today to let them know about this offer and the requirements.
  • Submit your application via Maclease and utilise our updated commercial express policy (where applicable) for a streamlined approval.

BCOP Training Completion

Thank you to everyone who has completed their Banking Code of Practice (BCOP) Training, as well as those who sent through their certificates of completion to the Learning and Development Team.

For those who have not yet completed the BCOP training - Time is running out so if you have not already completed your Banking Code of Practice (BCOP) training please make some time before the due date.

Important BCOP Information

  • BCOP Training is a mandatory industry requirement for brokers and is also a requirement of most lenders that subscribe to the BCOP.
  • The BCOP course is free
  • FBAA members complete this training through AAMC Training
  • MFAA members complete this training through the MFAA website You will need your MFAA member login details.
  • You must complete this course by 30 September 2020.
  • Already completed this course last year? Simply lodge a CPD Claim in the Professional Platform with 'Banking Code of Practice' in the name/title field and upload your certificate as evidence. Don't forget to add 1.0 CPD hours to your CPD Plan
  • Already lodged a CPD Claim last year? There is no need to lodge again. Simply send an email to LandD@vow.com.au provide the Claim Reference number or approximately when you lodged it (e.g. November 2019) and we will obtain the information from your CPD History.

Teachers Mutual Bank Update

Effective 17 August 2020 Teachers Mutual Bank has announced changes to maximum LVRs for fixed-rate home loans with Lenders Mortgage Insurance (LMI) for the following criteria:

  • Maximum LVRs on Fixed Rate Home Loans will decrease to 90
  • Fixed-Rate Home Loans are only allowable where the LVR is 90% INCLUDING the capitalisation of LMI.
  • Any application with LVR >90% with LMI must be on an applicable variable rate product (i.e. My First Home Loan, Solutions Plus, Flexi Choice). No application will be approved on a Fixed Rate Home Loan product (i.e. 1, 2, 3, 4, 5 year fixed rate) if the LVR >90% with LMI.


These changes apply for new applications received from this date.

These changes will be applicable across all our divisions being:

  • Firefighters Mutual Bank
  • Health Professionals Bank
  • Teachers Mutual Bank
  • UniBank

An Update from IMB Bank

IMB Bank has introduced a New Commercial Loan Special for Loans over $1m with rates from 2.99% Residentially secured and 3.29% Commercially Secured.

Fixed rates start at 3.29%.

Details as follows:

  • Commercial Fixed and Variable Loan rates from 3.29%*
  • Residentially Secured Commercial Variable rates from 2.99%*
  • LVRs up to 75% for loans up to $1m and 70% from $1m - $2m
  • Terms up to 20 years to keep repayments low
  • Loans up to $2million
  • No sensitising of external debt when assessing loans
  • No risk grade pricing with surety of the rate for your clients
  • Same rate for Owner Occupiers, Investors, P&I or I/O- no loading of rates
  • Ability to workshop your inquiry with your dedicated BDM and access to the credit team once loan is lodged

Banjo's Economic Outlook Webinar

COVID-19 has continued to alter the world economy. Join this interactive webinar as we discuss the economic landscape with Bendigo Bank's head economist, David Robertson.

David will touch on what has happened since our last session and his predictions for the near future.

When:
Date: 26th August 2020
Time: From 11.00 AM to 12.00 PM

REGISTER NOW

About David Robertson:

Head of Economic and Market Research

David joined Bendigo Bank 18 years ago as head of Financial Markets, and today is the Head of Economic and Market Research for the Bendigo and Adelaide Bank. His banking career commenced in 1989 as a foreign exchange dealer, and prior to joining Bendigo Bank he worked in a range of senior roles in Treasury for the State Bank of NSW, First Chicago and Commonwealth Bank. David's regular commentaries and video updates are shared via the bank's website, YouTube and LinkedIn platforms; and beyond the world of banking and his family, David's passions lie in golf, the outdoors and thoroughbred racing.