Suncorp SME Update

Suncorp has contacted a small group of SME brokers and invited them to participate in a pilot program to enable Suncorp to test and learn.

These selected brokers will have the opportunity to experience their newly developed SME FastTrack process which reduces documentation requirements for small business customers as part of Suncorp's Business Essentials product. With the broker's valuable feedback they hope to exceed loan assessment expectations of SME brokers and their small business customers.

Suncorp anticipates rolling out SME FastTrack to all brokers within Q1 2022.

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

ALI Group Summer Giveaway

Right now, the ALI Big Summer Giveaway is currently running where there are 25 x $1,000 shopping sprees through the Extra Benefits program up for grabs. New and existing policyholders can register for Extra Benefits and gain an entry into the draw, plus gain up to 5 additional entries for each purchase in the Extra Benefits store. You can find out more about this great summer giveaway on their website or if you're authorised, get in touch with your dedicated ALI BDM today for more information and helpful tools to utilise this giveaway in your MPP discussions.

You're protecting your clients, but who's protecting you?

Did you know, authorised brokers who are policyholders also have a chance to win in the Big Summer Giveaway? So, if you've been thinking about protecting yourself, now could be a great time. Not only could you win a share of $25,000 but as an authorised representative of ALI Group, you will receive a 20% lifetime discount. Download their flyer to find out more.

Aussie's are set to spend $23.9 billion this festive season but ALI wants to help save you and your clients' money

It's true, according to a recent survey, Australians are expected to fork out a cool $23.9 billion over the festive season and whilst that's great for the economy, for those trying to tighten the purse strings, this can be a financially stressful time of year(1).

It's expected that on average, we will each spend over $1,200 on presents, food, alcohol, dining out and travel. Millennials coming in at the top, spending the most on travel, over $1,500.

For those recently out of lockdown, being able to come together with friends, family, colleagues and clients is a welcome cause for celebration. Though the expenses do start to add up!

ALI's Extra Benefits program can save you and your client's money this Christmas

ALI Group's Extra Benefits program is a great way to make savings on your everyday purchases. Their authorised brokers and policyholders alike are using the program daily and are saving money on groceries, liquor, homewares, hardware, travel, fuel and more!

It has been reported, over the last 12 months, those fuel prices have increased by 25 per cent, which has been one of the largest contributors to higher living costs for Australian households. So, this is a great time to become an ALI policyholder and register for Extra Benefits to begin saving.

There are close to 100 of Australia's most popular retailers onboard and the easy to navigate platform makes it simple and fuss-free.

Utilising Extra Benefits

Since the introduction of ALI's Extra Benefits program, ALI'S policyholders and their authorised brokers have saved over $300,000 already. Many of their authorised brokers are using Extra Benefits and the helpful Savings Calculator tool with their clients to show how they can possibly offset the cost of their My Protection Plan (MPP) premiums through the program.

You can access their calculator here and see for yourself how much you can save.

Should you require anything, please don't hesitate to get in touch with your dedicated ALI BDM today or if you'd like to know more about becoming authorised, contact them through their website.

IMPORTANT INFORMATION: This email is issued by Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSL 226403 ('ALI'). This promotion is in no way sponsored, endorsed, administered by or associated with Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 ('Zurich'). My Protection Plan is issued by Zurich Australia Limited ABN 92 000 010 195 AFSL 232510. It is distributed by Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSL 226403 (ALI). ALI's AFS licence authorises the provision of general financial product advice only This means that any advice provided to you by ALI and its representatives (including mortgage brokers appointed as its authorised representatives) in relation to My Protection Plan does not take into consideration your personal objectives, financial situation and needs, or any information held as a result of the provision of credit assistance by your mortgage broker relating to your home loan or other loans. Whilst the initial My Protection Plan quote you received was based on your loan amount, we are not recommending that this product nor any specific cover amount is personally suited to you and your circumstances. You should consider the combined Product Disclosure Statement and Policy Document (PDS) when deciding if this product is appropriate for you. You may also wish to review the Target Market Determination (TMD) which describes the objectives, financial situation and needs we have designed the product to meet. The PDS and TMD are available at aligroup.com.au. If you require advice specific to your circumstances, you should speak to a financial adviser. ' ' ... ALI Group 2021

(1) https://www.finder.com.au/australias-christmas-spending-statistics

(2) same as above

(3) https://www.abs.gov.au/media-centre/media-releases/higher-petrol-prices-increase-living-costs

(4) ALI Group Extra Benefits Store Analytics, April 2021.

Accendo Finance & Banjo Loans

Banjo Loans & Accendo Finance have put together a series of videos to help educate finance professionals.

The series is being released on their LinkedIn page each month and it aims to provide high-quality key financial information.

Watch their second video here.

TMBL Updated Serviceability Calculators

To read the latest Broker News from Teachers Mutual Bank Limited, click the link below

Latest Broker News

In summary, a number of Serviceability calculators utilised by the Bank are being updated as follows;

  • Effective 14 December 2021 the Bank has updated its Servicing Calculator to reflect minimum benchmark figures, based on Q3 2021 Household Expenditure Measure (HEM) figures.
  • Effective 20 December 2021 the Bank's Lender's Mortgage Insurance provider, Genworth, will have an updated Serviceability Calculator and Servicing Estimator.

These calculators will be available on the TMBL Broker Portal under Tools and calculators from the effective dates.

Please update your systems and records accordingly removing any previous versions of these calculators.

These changes are applicable across all their divisions being;

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

For any questions, please reach out to your BDM.

Lumi's Small Business Funding

Considering we are in the midst of the busiest time of the year, Lumi wanted to share some handy tips on how you can generate more leads for your business.

Listen to their 7 tips here.

Lumi can offer small business funding of up to $500,000 and $300,000 unsecured. You can apply online on behalf of your client through their partner portal and get accredited here in case you haven't done so yet.

Please get in touch with Lumi if you would like to discuss any client scenarios and they would be happy to help with the application process. Alternatively, please reach out to your BDM.

FBAA Survey Findings

FBAA has undertaken five surveys to better understand the current and future environment of the Australian mortgage broking sector.

The research also delved deeper into how borrowers feel about brokers, how brokers faired during COVID-19, broker commission clawback landscape and more.

According to the findings both the consumers and lenders benefit from the brokers' services. 98% of respondents said they would use the same broker again and 98.3% would use a mortgage broker for a future home loan.

To view, the summary of findings from the surveys, click here.