Farewell RP Professional - Welcome RP Data

At CoreLogic, they are committed to providing the best possible customer experience. As part of this commitment, they are pleased to introduce their next-generation data platform, RP Data which will permanently replace the existing RP Professional on Thursday 6 October 2022.

What this means for you

After 6 October 2022, all users within your account will be switched over to RP Data so they can experience the new design, user interface and capability.

Why the change?

RP Professional was launched in 2009 - when taking technology lifecycles into account - that's several lifetimes ago! So Core Logic has been diligently working with their customer base over the past four years to ensure they cover all of your needs in their new modern platform, RP Data.

RP Data is faster, more secure and is packed with enhanced capabilities specially designed to improve the efficiencies of your work. Core Logic has several teams dedicated to developing additional features, with several very exciting features just around the corner.

Next steps

Your subscription and login details will remain the same. However from 6 October 2022, you will default to the new RP Data platform after login to discover the new design and platform. It is likely that your account has a mix of users - some who already only use the new platform (RP Data), some who still use RP Professional and those who use a mix of both.

From 6 October 2022, it will no longer be possible for users to switch between versions and all users will exclusively use RP Data.

Core Logic is here to help

Core Logic understands that changing the way you work can be challenging so to help you have a smooth transition, settle into the new user interface and start to reap the benefits of the new platform, they have some fantastic recorded and live webinars available to you:

  • Introduction to RP Data (Recorded): Register here.
  • Specialised training sessions: View here.

For any questions please reach out to your BDM.

Ubank's Cashback Promotion

Improvements to Ubank's loan assessment process

Ubank's brokers asked for change, and they listened!

On 5 September 2022, Ubank launched some exciting changes to their loan assessment process to provide a faster, easier digital home loan experience.

New cashback offer

Ubank wants to help your customers get ahead with money, which is why they are offering up to $4k cashback when they take out a new home loan with Ubank or bring their existing home loan across to Ubank.

The details:

  • Purchase and refinance applications on eligible 'Neat & Own' home loans with an LVR of 80% or less
  • Applications received from 12 September 2022 to 30 November 2022 and settled by 31 January 2023
  • Min loan amount of $250k for $3k cashback, min loan amount of $1m for $4k cashback
  • Excludes refinances within NAB Group

Exclusions, Ts&Cs and additional eligibility criteria apply.

Got any questions or need to get accredited?

Reach out to one of their friendly BDMs, they are there to help.

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

Get accredited with RedZed

RedZed is proud to work with their Broker Partners to find great outcomes for your self-employed customers. In order to become accredited, please complete the below steps and reach out to your BDM if you have any questions:

1. Complete the Red Zed accreditation form

2. Send the completed form with your current AML/CTF Certificate to your Aggregator Accreditation Team

3. Complete the training either via their webinar (details below) or the outline module (sent from Redzed's Accreditations Team once they receive the signed form from your aggregator)

Webinar sessions are held every Tuesday at 11:30 am (AEDT) and hosted by their Sales Team. Please register via the below link and the details will be emailed to you.

Register here.

For any questions please reach out to your BDM.

Bankwest National Update

Bankwest has recently released their Bankwest National Update.

Hear from Anthony Calandrella, VIC TAS State Manager Third Party, on why brokers choose Bankwest.

To watch the update, click here.

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

Select Rate Changes

Variable rate reduction for new home loans

Effective Friday 16 September 2022, variable rates for new lending with 80% LVR will be reduced as follows:

Pipeline applications

  • Variable rate loans formally approved and instructed on or after Friday 16 September 2022 will receive the new rate on the updated rate card.
  • Variable rate loans formally approved and instructed before Friday 16 September 2022 will receive the rate on the rate card applicable at the time the loan was formally approved and instructed.

Variable rate increase for both new and existing home loans

In line with the September RBA announcement, effective Monday 3 October 2022, Resi Select is increasing variable interest rates for both new and existing variable rate home loans.

Effective Monday 3 October 2022, variable rates are increasing for new and existing lending by 0.50% p.a.

For example, interest rates for new lending with 80% LVR will be as follows:

How Resi is telling their customers

Customers with an existing variable rate home loan will receive a letter advising them of changes to their interest rate and repayments.

Pipeline applications

  • The effective date of this change will be no earlier than Monday 3 October 2022 for in-flight applications, but will vary depending on the loan settlement date as follows:
  • Loans settled before 5pm Monday 12 September 2022 will have variable rates increased by 0.50% p.a. on Monday 3 October 2022
  • Loans settled after 5pm Monday 12 September 2022 will retain their current contracted variable rates until the month following settlement, when they will be increased by 0.50% p.a. The adjustment will not be retrospective
  • All variable rate loans formally approved and instructed on or after Monday 3 October 2022 will receive the rates on the updated rate card

A full set of rates will be made available on their systems from Monday 3 October 2022.

Don't forget the benefits of choosing Resi Select

  • A digital end-to-end service experience to support you with efficient lodgement and processing of your applications.
  • Direct access to credit managers, with optimal turnaround times for quality applications.
  • A simpler product offering.
  • Customer Net Promoter Score (NPS) +26 and Broker NPS +64 in Advantedge Broker and Customer Satisfaction Surveys July 2022*.

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.

To access Resi's rate card, click here.

For more information, please see Resi's website, alternatively please contact broker support or your BDM.

Brighten Interest Rate Update

The Reserve Bank of Australia (RBA) raised the official cash rate by 0.50% on the 6th of September 2022. In response to the cash rate decision, Brighten has made the following changes to Brighten home loan products, effective 26th September 2022.

1. Alt Doc
The following interest rates are now applicable to new Brighten Boss Prime and Brighten Boss home loan applications.

2. Full Doc
The following interest rates are now applicable to new Brighten Empower Prime and Brighten Empower home loan applications.

3. Expat (Full Doc)
The following interest rates are now applicable to new Brighten Elevate home loan applications.

4. Non-Resident
The following interest rates are now applicable to new Brighten Evergreen home loan applications.

5. Brighten Premium (188B/C Visa Holders)
The following interest rates are now applicable to new Brighten Premium home loan applications.

^Of the loan amount. # The comparison rate is based on a secured loan of $150,000 and a term of 25 years. 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.

For any questions please reach out to your BDM.