Vow Voice 30th January 2020

Gateway Bank has expanded their partnership with VOW/YBR. The addition of Gateway to the panel will provide brokers with an additional lender participating in the First Home Loan Deposit Scheme (FHLDS) as well as other useful policy and product niches, which are outlined below. For more details about the FHLDS, please see here.

Gateway Bank will enrol you in its online compliance module shortly, and upon your completion we will provide you with your unique broker code.

Gateway has a full range of great value home and investment loans with competitive rates, including the below specials for over $500k loans (up to 80% LVR):

Please note the below features and benefits of Gateway's key offerings:

Premium Package³

• NO Establishment Fee

• $299 Annual Fee

• Up to four loan splits - free

• Unlimited 100% Loan Offset Accounts on variable loans with Visa Debit Card.

• Free online redraw available, unlimited number

• Unlimited additional repayments on fixed NO penalty

• NO Valuation Fee on 1st valuation - up to $325

Low Rate Essentials Home Loan³

• A low rate with full repayment flexibility

• Free redraw available, unlimited number

• No ongoing fees

• Min loan amount $50,000

Acceptable Security

• Apartments 40 sqm and above (up to 95% LVR)

• Apartments 25 sqm and above (up to 80% LVR) - Case by case

• Company title properties

Family Pledge

• Purchasing established dwellings only for owner occupancy

• Maximum LVR 80% (or 105% of the purchase price of the first home buyer property)

• Security will be the first mortgage over both security properties

• Debt consolidation up to 5% of purchase price on application

Family Pledge Guarantors

• Applicant's immediate family

• Can pledge up to 50% of the value of their security (for pledge loan)

• Maximum LVR 70% against guarantor's property (for pledge + own debts)

• Gateway to be first mortgagee

• Guarantors should be able to demonstrate clearance of the guarantee if required

Gateway key contacts are:

Accreditations
support@gatewaybank.com.au

Broker Support Consultants

Daryl Smith
t: 02 9307 4304 m: 0410 289 220
e: darylsmith@gatewaybank.com.au
Arun Gupta
t: 02 9307 4301
e: arungupta@gatewaybank.com.au

Additional information is available on Gateway Bank's Broker Portal

¹ Gateway reserves the right to vary these interest rates at any time. Applications for finance are subject to our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
² Comparison rates are calculated based on a loan amount of $150,000 over a 25 year term. WARNING: Comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
³ For product information including; interest rates, T&Cs and fees & charges that apply, visit the respective product page at www.gatewaybank.com.au.

One of the most social trends over the past century has been the growing life expectancy of Australians.

Life expectancy for a male in Australia is now 80.4 years and 84.6 years. A century ago, life expectancy for males was 55 years and 58 years for females.

The fact that more people are living longer also means that people will generally work longer to support their extended retirement years,

This trend is underlined by new research that has identified several social groups in society who will become a dominant force by 2030. Among these emerging social groups are the "Peter Pan's".

This social group were born between 1954 and 1965 and this generation of Baby Boomers will be aged between 65 and 76 in 2030.

Unlike previous generations in this age group, they will have no intention of retiring but will live independently as long as possible, enabled by the latest technology and medical advances.

The reality is that people are now living much longer and leading healthier lives will into late age.

This social change will have a huge impact on the property market moving forward and in particular the property investment market.

One impact on the property investment market is that we will see people investing in property at a much older age.

Because people are all living longer, we will need more money to carry us through our retirement years and superannuation alone will not be enough for most people.

At the same time, the Federal Government is restricting the government pension and these guidelines determining who receives the pension will become even tougher as time goes on because of the growing number of people reaching retirement age at a time when Government is trying to cut its growing public debt.

Investing in property has proven to be a very sound way for ordinary people to fund their retirement and the rise of the "Peter Pans" will see older Australians starting to invest in property.

DEPPRO has already experienced this trend will our company now undertaking more tax depreciation schedules for investors aged in their late fifties and sixties which ten years was uncommon.

Over time, we expect the number of older property investors to increase very strongly in line with our ageing population.

Top Tips for Peter Pan Property Investors

1. Seek independent financial advice before making your first property investment.

2. Take advantage of the generous tax benefits associated with property investment such as depreciation. These benefits can represent 60% of the total value of the property you plan to purchase.

3. Take a wide approach to the geographic area where you want to investment because most people buy and investment property within a 15 kilometre radius of where they currently live and therefore can miss out on great investment opportunities in other areas.

4. Research the potential rental income of the property before you buy. A good tip is to ask local property management companies what kind of properties are most in demand by renters and the typical rent that could be expected from the property you plan to purchase.

5. Always get a property management company to look after tenant selection and the overall management of the property. These fees are tax deductible. Most people only ever buy one investment property because they choose the wrong tenant and this can lead to loss of rental income and damage to their investment property which is a big turn off for first time property investors.

By Paul Bennion, Managing Director, DEPPRO

Being early in our calendar year it is an excellent time to remind everyone , that loan writers not offering products in the equipment finance /leasing market. We have an excellent option for you with access to our national specialists in this field for a simple name and phone number from you.

Don't run the risk of giving up a loan opportunity or even your client going elsewhere , these brokers have successfully being working with YBR group for over 5 years to provide another way of earning revenue to "your" business.

Do not hesitate to contact either your BDM or myself direct, should have any questions around this simple process what better way in 2020 to bring in another loan solution to your business model.

Please see pdf here.

Looking for an alternative to the Big 4 Banks?
Resi has the answer !

• Multi funder options delivering a wide range of loan solutions for customers - access to several funders who don't credit score.
• Dedicated Business Development Managers (that have knowledge of funder niches) to assist with credit enquiries and scenarios.
• Breadth of funding allows us to find a solution for most viable lending situations.
• Dedicated credit team with delegated credit authorities
• Customer ownership is always maintained by branch/broker and not the lender
• Fully Assessed Pre-Approvals
• Cash out on all products up to 80% LVR
• Fixed rates with full offset account
• Properties up to 120acres
• Lo Doc and full Doc options

Details on all our products including service calculators and facts sheets can be found at:
https://www.vow.com.au/resi-home-loans

Current Featured Promotions:

Resi Flexi Options:

Owner Occupied P&I

• Variable rate (up to 90% LVR) 3.14%
• 2 year fixed rate (90% LVR) 2.99%
• 3 year fixed rate (90% LVR) 2.99%

Investment: P&I

• Variable rate (up to 90% LVR) 3.44%
• 2 year fixed rate (90% LVR) 3.59%
• 3 year fixed rate (90% LVR) 3.59%

Investment I/O

• Variable rates from (80% LVR) 3.74%
• Variable rate (80.01%-90% LVR) 4.49%
• 2 year fixed rate (90% LVR) 3.79%
• 3 year fixed rate (90% LVR) 3.79%

With 100% offset account on either fixed or variable rates available.

Standard valuation fees up to a maximum cost of $300 waived.
Document Preparation fee of $150 waived until 31st October 2019 (loan must be documented by this date).

Renew / Restart special

Discounted rates available across the Renew Prime and Near Prime Range.

Renew Full Doc rates available from 3.29% and Alt Doc rates from 3.76%.

Renew Near Prime Full Doc rates available from 4.41% and Alt Doc rates from 4.74%

Agility Special Offers

Agile Full Doc annual fee waived for the first year.
Agile Prime Alt Doc risk fee reduced from 1% to 0.50% (for LVR's up to and including 70%)
Agile Clear range rates reduced by up to 1.00% for LVR's up to 80%.

For any questions or scenarios please contact our sales team who will be more than happy to assist:
For general enquiries, please call 1800 737 448 and select:

Option 1 for Sales team or brokersupport@resi.com.au

• Craig Herden: National Sales Manager on 0478 537 841 or craig.herden@resi.com.au
• Tony Wakim: NSW BDM on 0416 409 100 or tony.wakim@resi.com.au
• Darren McLeod: VIC BDM on 0468 755 419 or Darren.Mcleod@resi.com.au

¹ Gateway reserves the right to vary these interest rates at any time. Applications for finance are subject to our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
² Comparison rates are calculated based on a loan amount of $150,000 over a 25 year term. WARNING: Comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
³ For product information including; interest rates, T&Cs and fees & charges that apply, visit the respective product page at www.gatewaybank.com.au.

Lunar New Year is the biggest celebration of the year in many Asian cultures, a fortuitous time celebrated with myriad events and cultural practices. In the Zodiac, 2020 is the year of the white metal rat.

"The rat year is of critical importance to all zodiac signs," said senior lecturer in Chinese and Asian studies at UNSW Pan Wang.
2020 marks the beginning of a 60-year cycle. According to legend, the rat became the first of the zodiac animals by winning the great race to greet the jade emperor - the first god in Chinese mythology. Clever and shrewd, the rat tricked the ox into giving him a ride across the river, leaping ahead at the last moment.
Wang emphasised the importance of starting this particular lunar new year, beginning January 25 and ending February 11, 2021, with good fortune.

"There is a Chinese saying, 'the first step is always difficult'."

Here's some do's and don'ts for the new year.

Do

• Clean your home before the new year.

"You need to start the year off in the way you intend it to continue," said Sydney Lunar Festival curator Valerie Khoo. Anything broken needs to be repaired or disposed of and dead plants and flowers need to be revived or removed. The home should be arranged to allow good energy to flow through the main door into living spaces. For those with long hallways it's too late to remodel, but "you can get around that by putting something there, even a chair," Khoo said. Clasically-trained Chinese astrologer Mina Zheng says people should take special care to clean their windows: "Windows represent your foresight, your vision - don't keep anything blurred!"

• Clear your debts.

• Have a feast with family.

New year is celebrated with a special meal, with dishes varying between cultures. Khoo says in Chinese culture lo hei, a raw fish salad, is the dish of choice. In her family, "we all go to my grandmother's house, we gather around the table and use our chopsticks to toss the fish - the higher the toss, the more good fortune you're meant to have."

• Decorate with red, and wear red clothing and silver, gold, or white metal accessories.

Red is the luckiest colour in Chinese superstition, especially at new year. Decorations like the red knot, symbol of harmony, are placed throughout the home. "My mum would tie red ribbons onto plants, and hang them off the door," said Khoo. Metal decorations in the home will also generate good luck. In Chinese tradition, red is one of the luckiest colours. Sydney Lunar Festival curator Valerie Khoo says decorations are one of the most important parts of the celebration.

• Give and receive money.

In Chinese families, married people usually exchange red envelopes with cash inside as a symbol of wealth, with the amount of money depending on the nature of the relationship. President of the Chinese Heritage Association of Australia Cheryl Cumines says good luck comes with even numbers: recipients should be given two coins of the same value, for example. A less common practice, says Valerie Khoo, is to give a pair of mandarin oranges to symbolise prosperity. The Chinese word for mandarin is kam, which sounds similar to the word for gold.

• Sleep in the north-west, study in the south-west and move your houseplants to the north-east of your home.

According to astrologer and Feng Shui practitioner Mina Zheng, 2020's "star patterns" show the south-west direction is "academic and creative", while the north-west contains the "money star". "North-east is a romantic star," she says, bringing good fortune in love and travel. Plants in the area will "emphasise beauty".

• Go outside and socialise, says Wang, because rats are social animals.

"Potentially, 2020 can give fortune to meet investment partners, helpers, and find romance." She says it's a great year for financial abundance - especially if you can be as flexible and proactive at work as rats are.

Don't

• Buy new shoes.

Cumines says Chinese people can be extremely superstitious about footwear because shoe is a homophone for the word evil in Mandarin, and rough in Cantonese.

• Wash your hair on New Year's Day.

Any kind of cleaning is considered unlucky, as the good energy that comes with the new year is literally washed away.

• Wear black, or discuss death.

• Spend too much time in the north, south, or east of your home.

Zheng says "conflict and lawsuits" can be found in the north, and sickness in the south. The east has "a misfortune star, so we don't want to disturb that energy. The energy can block our intelligence."

• Become a workaholic.

Pan Wang says the negative side of an industrious year is that people may be more prone to exhaustion and burnout. She advises people "take a few steps back to assess your progress" to maintain productivity.

Chinese fortunes depend on a number of factors, making it difficult to make general astrological predictions. However, people born in another year of the rat should be particularly cautious this year.
"Generally, the zodiac year (Ben Ming Nian) is a year of bad luck in Chinese culture," said Dr Xiang (Tony) Ren, Postdoctoral Research Fellow at Western Sydney University's Australia-Chinese Institute for Arts and Culture.
"There is a saying that people in their zodiac year usually encounter Tai Sui (the God of fortune) and thus bad things may happen to them. Wearing red is the most common way to avoid disasters."

Source: SMH