Vow Voice 23rd July 2020

Further to the feedback we've received from across the network, we are thrilled to inform all of you that we are rolling out ZipID! Additionally, we are also improving the 'Apply Online' (AOL) process to make it quicker and simpler. Here's a quick peek into the changes.

Essential Options

• ZipID is now available for Essential Options!
• Applications continue to be lodged directly from Vownet.
• If you utilise the Zip ID application, you don't need to use old print ID forms, simply attach the Zip ID record to the supporting documents for your loan submission.

Flexi Options

• ZipID is also accepted now for Flexi options!
• If you have used ZipID to identify your customer, the Flexi Options Annexure will no longer be required (this option can still be used and should be for non-face to face identification requirements).
• You can now also lodge applications via the enhanced Apply online mechanism.
• A slightly changed document summary print page will appear (Please see image below).
• If you use the Responsible Lending Summary (Compliance tab), then the Resi Fact Find and Privacy Form is not required, instead, you can use the much shorter Flexi Options Elodgement Support Form.
• Using both ZipID and the compliance tab means that only the Elodgement support form is required in addition to the AOL output, significantly reducing the manual data input required to submit.

All Vow brokers that have used RESI in the past 12 months will receive an account activation e-mail from ZipID on July 31. Please be sure to activate this ASAP as the link expires within approximately 1 week.

For more information on how to use ZipID, please go through these guides

• Preparing your client PDF
• How to use the ZipID Mobile App

We are excited about these changes and hope they make the application lodging process more efficient. As always, we are keen to hear your views on these improvements. Your feedback is invaluable to us. So please send us an email at brokersupport@resi.com.au for any questions, suggestions or comments, or if you did not receive your account activation e-mail and require assistance for it to be set up.

Effective immediately, Commbank's BetterBusiness Loan fixed interest rate is now 2.49% p.a.*

This offer is available for eligible applications submitted by 30 September 2020*, including ABCD Commercial.

See below for more details or get in touch with your CommBank Business
Development Executive.

Offer details & criterion

• Loan amount: $150,000 and up to $3m.
• Establishment fee: 0.50% upfront. Other fees apply.
• Loan term: Up to 5 years.
• Interest rate: 2.49% p.a. fixed rate (fully secured)*
• CommBank business account: Customer must hold a transaction or savings account with Commbank by 30 September 2020.
• Purpose: Borrowing must be wholly or predominantly for business and commercial purposes.

Exclusions

Offer not available for specific loan purposes, such as

• Self-Managed Super Funds,
• Commercial Property
• Investment or Development.

This excludes companies with annual sales turnover greater than $50m. Additional exclusions apply for ABCD Commercial applications.

The Benefit of a BetterBusiness Loan

A BetterBusiness Loan is a loan that a customer can tailor to suit their business. If they need capital to grow their business and can provide property or cash as security, it may be a good option.

Customers could borrow over $150,000 fully secured with residential or commercial property, cash or a combination of both. They can also choose between Interest Only or Principal and Interest
repayments that meet business cash flow needs.

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Part 4 of Bluestone's winter campaign is here with new rates across several products.

All rate changes are effective as of, 2 July 2020.
New rates starting from 2.69% (2.92% comparison rate*)

Here are all the changes at a glance:

Rates Table

Download the Product Matrix for rates across Bluestone's whole product suite and key product info.

Back in March, they also changed their lending policy in response to the significant uncertainty as a result of COVID-19. Your feedback has been taken into account and the following policy changes have been made effective immediately.

Changes in Lending Policies

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Deposit Power has launched an initiative to help cafes and restaurants in broker's local areas on their road to recovery by conducting meetings with your brokers in their local. The support really comes into play when you choose to pay double of what the bill is, regardless of the amount.