Liberty Commercial

Please see Liberty's latest enhancements around their Residential SMSF, Commercial SMSF and Commercial Solutions:

Residential SMSF

  • Rates from 4.95%
  • Up to 80% LVR

Commercial SMSF

  • Rates from 4.45%
  • Up to 80% LVR

Commercial

  • Rates from 4.45%
  • 30-year loan terms acceptable
  • No Annual reviews or revaluations
  • No GSA's

Don't forget that they are still offering their competitive Low-Doc, LeaseDoc and No-Doc Commercial Solutions!

Liberty Lift:

  • Unsecured Business Loan (First ranking GSA, Director/Shareholder guarantees)
  • Funding between $25,000 - $1 million
  • Loan terms from 1 - 5 years
  • Can consider ATO debt
  • Funding for any business purpose

Access - line of credit:

  • Variable rates from 5.95% p.a.
  • No break costs
  • Interest-only repayments
  • Mortgage security required

*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.

New Loan Service Calculator

A new version of the Essential Options serviceability calculator is now available on Vownet as well as the Resi website.

You can access them by clicking on the links below:

You can use the current 9.7 version for loan submissions up to the end of the month.

However, for applications submitted from 1 September, version 9.8 will need to be used.

Please reach out to your State Managers, BDMs or the Resi team for any further clarification.

Commercial Lending

There are several stories of mortgage brokers being caught up by unscrupulous supposed Private lenders, that have set up a business with no intention of funding Commercial loans.

These operators set up websites stating all the right wording and refer to lending conditions that make it sound too good to be true.

They will ensure a speedy loan approval is issued, stating how quickly they can value and settle the deal. Provided the brokers pay a non-refundable upfront fee, valuation & legal fees to progress the loan facility/ deal along further.

That is when the broker will quickly find out it is a scam, with no responses back and they usually operate out of a serviced office with a 1300 phone number.

It is of utmost importance that, when writing in the private lending space, make sure you fully understand the background of the lender where the funding comes from, also directors associated with the business.

Brokers that have deals settled with them in the past would also assist, check with us your aggregator to find out credentials as any regulatory body does not govern these lenders.

You cannot afford to put your clients at risk by paying out many thousands of dollars along with, of course, your reputation!

Please feel free to contact Glenn Mitchell, head of Commercial & Leasing directly as needed around new deals.

His details are as follows:
M:0424 377 572
Email: Glenn Mitchell

Webinar with Moula

Would you like a window to the future of SME lending? Join Moula CEO Aris Allegos for a webinar, Beyond COVID: the future of SME lending.

When: Wednesday 2 September 2020 at 2 pm AEST.

The webinar will highlight ways to futureproof your business as a broker, including:

  • Finance trends across Australian industries in 2020
  • Key SME growth industries to watch
  • Revenue opportunities with Moula's latest product offerings

Please register by clicking HERE.

Spring into Spring

Refer a client to MyConnect before 30th September and you will have an option to win one of the two:

  • $500 Pre-paid visa
  • $250 Pre-paid visa

To refer your clients, just click HERE.

Prospa Update

Prospa has made changes to their Back to Business products.

Undoubtedly, COVID-19 has impacted many small businesses across Australia, which has also affected less commercial and asset finance settlements that involve many brokers.

Hence, Prospa has increased commission on their Back to Business products as part of their ongoing commitment to partners. Prospa's Back to Business products provides funding to small business under the Government's Coronavirus SME Guarantee Scheme.

*This Back to Business Funding Offer ends on 30 September 2020.
*No repayments for the first six months for eligible SMEs


This means that Prospa can now pay increased commissions on new and repeat customers for approved and settled Back to Business products taken up from the 17 August.

It is a tough time for all businesses, and Back to Business funding offers great breathing space with no repayments for the first six months.

Full details of the commission settings can be found in the revised commission schedule which applies for eligible Back to Business Loans and Lines of Credit approved and settled between 17 August and 30 September 2020.*

As the end of September approaches, many SME clients may be worried about the reduction in JobKeeper support. Now's the perfect time for you to talk to your client about options to support cash flow!

Cash flow funding for eligible small businesses:

  • Back to Business Loan or Back to Business Line of Credit up to $250K
  • No asset security required
  • No repayments for the first six months.