Resi - the lending options you may not even know you had

Updated as of Wed 3/07/2019 4:52 PM

Many Vow brokers are not aware that on joining VOW, they are automatically accredited with our in-house Mortgage Manager, Resi. We are here to let you know the benefits that Resi can bring to your business and how to ensure their competitive funding options display for you and your brokers.

What Resi provides to your business?

A snapshot of what Resi provides your business is detailed below:

  • Access to 4 different funders via one lender. Prime lending solutions, Near Prime and Specialist solutions via multiple product providers.
  • Exceptional flexible Prime loan solutions.
    • Bridging Finance scenarios
    • First Home Buyers up to 95% with FHOG acceptable as funds to complete
    • No LMI options to 85% for first time buyers, upgraders, property investors (including Interest Only Loans).
  • Highly competitive Prime Investment lending options. Market leading rates available for Investment P&I and well as Interest Only up to a 90% LVR.
  • Near Prime and Specialist lending solutions which minimise entry costs - solutions designed to help you manage your customers short term needs (getting their loan set now) and allowing you to map out a low-cost pathway to a prime lending solution longer term.

Flexible low doc options

We can consider the following under low doc:

  • Accountant letter only
  • High density apartments
  • 25-acre properties
  • 6-month ABN
  • Bad conduct/ low credit score
  • $2.5m up to 65%LVR
  • No Risk fee options up to 80% LVR
  • Rates start at 4.41%

DOWNLOAD RATE CARD 08/07/2019

This is just a little taste of what you are currently accredited to access.

Got you interested? Have a chat to the team about your next Scenario or Deal

Sales Team 1800 737 448 option 1 or brokersupport@resi.com.au

Craig Herden National Sales Manager 0478 537 841 craig.herden@resi.com.au
Tony Wakim BDM NSW 0416 409 100 tony.wakim@resi.com.au
Jason Hulbert BDM VIC 0468 755 419 jason.hulbert@resi.com.au

Broker Testimonial:

Pro Finance Solutions

Just a shout out to the Resi team since their enhancements. I recently had a very difficult deal that only had 10 business days to settlement and we relied on Low Doc income verification as the client did not have their recent financials finalised.

The new BDM Jason worked wonders and went above and beyond to make the deal as smooth as possible. He actually managed to work with the funder (Pepper in this case) and managed to get me an exception on the valuation to be paid at settlement as the customer had a glitch with their credit card.

Your rates are great and the BDM is even more amazing. Looking forward to working on more deals with your firm.

All Good Finance

Thank You for your support! The power of RESI is real!

I am fairly new mortgage broker and have settled already 4 deals with 3 of your funders. My clients are happy that RESI that can tailor a loan for each of them!

In relation to credit, I get a feedback on each application by email or phone and they are really friendly and handle matters with care and understanding.

I have no hesitation to recommend RESI to my clients as well refer RESI to my broker associates who I come across.

Kind Regards,
Beth

Lender Changes Following the Second RBA Rate Cut

Updated as of Wed 3/07/2019 4:52 PM

ANZ Bank interest rate cut

  • Rate cut: 25 basis points
  • Applies to: All variable interest rates for Australian home and residential investment loans
  • Effective date: 12 July 2019 (10 days after RBA decision)

Athena interest rate cut

  • Rate cut: 25 basis points
  • Applies to: Both existing and new customers.
  • Effective date: 02 July 2019 (0 days after RBA decision)

Bank of Melbourne interest rate cut

  • Rate cut: 20-30 basis points Applies to: New and existing home loan customers:
    • Variable OO P&I home loans (20 points)
    • Variable residential investment property loan P&I (20 points)
    • Variable OO IO home loans (20 points)
    • Variable residential investment property loan IO (30 points)
  • Effective date: 16 July 2019 (14 days after RBA decision)

BankSA interest rate cut

  • Rate cut: 20-30 basis points
  • Applies to: New and existing home loan customers:
    • Variable OO P&I home loans (20 points)
    • Variable residential investment property loan P&I (20 points),
    • Variable OO IO home loans (20 points)
    • Variable residential investment property loan IO (30 points)
  • Effective date: 16 July 2019 (14 days after RBA decision)

Commonwealth Bank interest rate cut

  • Rate cut: 19-25 basis points
  • Applies to: New and existing home loan customers:
    • OO P&I standard variable rate home loans (19 points)
    • Investor P&I standard variable rate home loans (19 points)
    • OO IO standard variable rate home loans (25 points)
    • Investor IO standard variable rate home loans (25 points)
  • Effective date: 23 July 2019 (21 days after RBA decision)

Homestar Finance interest rate cut

  • Rate cut: 25 basis points
  • Applies to: Standard variable home loan rates for all customers
  • Effective date: 02 July 2019 (0 days after RBA decision)

ING interest rate cut

  • Rate cut: 20 basis points
  • Applies to: All variable home loan rates
  • Effective date: 18 July 2019 (16 days after RBA decision)

Loans.com.au interest rate cut

  • Rate cut: 25 basis points
  • Applies to: All existing and new variable home loan customers
  • Effective date: 26 July 2019 for all existing customers (24 days after RBA decision)

Macquarie Bank interest rate cut

  • Rate cut: 20 basis points
  • Applies to: "Standard variable home loan rates"
  • Effective date: 18 July 2019 (16 days after RBA decision)
  • Also Applies to YBR or Vow branded loans funded by Macquarie

ME Bank interest rate cut

  • Rate cut: 15 basis points
  • Applies to: All existing variable home loan customers
  • Effective date: 23 July 2019 (21 days after RBA decision)

NAB interest rate cut

  • Rate cut: 19 basis points
  • Applies to: New and existing customers on variable loans (OO and Investor, P&I and IO)
  • Effective date: 12 July 2019 (10 days after RBA decision)

Newcastle Permanent interest rate cut

  • Rate cut: 25 basis points
  • Applies to: All home loan products including OO, IO and Investment home loans.
  • Effective date: 29 July 2019 (27 days after RBA decision)

RACQ Bank interest rate cut

  • Rate cut: 25 basis points
  • Applies to: All variable home loans
  • Announcement date: 3 July 2019
  • Effective date: "From next week"

RAMS interest rate cut

  • Rate cut: 20-30 basis points
  • Applies to: New and existing home loan customers:
    • Variable OO P&I home loans (20 points)
    • Variable residential investment property loan P&I (20 points)
    • Variable OO IO home loans (20 points)
    • Variable residential investment property loan IO (30 points)
  • Effective date: 16 July 2019 (14 days after RBA decision)

Reduce Home Loans interest rate cut

  • Rate cut: Up to 22 basis points
  • Applies to: Some loans for new customers
  • Effective date: 02 July 2019 (new customers)

Resimac interest rate cut

  • Rate cut: 25 basis points
  • Applies to: Prime and specialist mortgages
  • Effective date: 24 July 2019 (22 days after RBA decision)

State Custodians interest rate cut

  • Rate cut: 25 basis points
  • Applies to: Most home loan products for new and existing customers:
    • Low Rate Home Loan
    • Breathe Easy
    • Peak Performance
    • Standard Variable
    • Specialist Loans
  • Effective date: 24 July 2019 (22 days after RBA's decision)

Suncorp Bank interest rate cut

  • Rate cut: 19 basis points
  • Applies to: Variable rates for owner-occupiers and investors
  • Effective date: 19 July 2019 (17 days after RBA decision)

St. George interest rate cut

  • Rate cut: 20-30 basis points
  • Applies to: New and existing home loan customers:
    • Variable OO P&I home loans (20 points)
    • Variable residential investment property loan P&I (20 points),
    • Variable OO IO home loans (20 points)
    • Variable residential investment property loan IO (30 points)
  • Effective date: 16 July 2019 (14 days after RBA decision)

Westpac interest rate cut

  • Rate cut: 20-30 basis points
  • Applies to: New and existing home loan customers:
    • Variable OO P&I home loans (20 points)
    • Variable residential investment property loan P&I (20 points),
    • Variable OO IO home loans (20 points)
    • Variable residential investment property loan IO (30 points)
  • Effective date: 16 July 2019 (14 days after RBA decision)

Information contained on this webpage is for internal use only and not intended for consumer distribution.

Vownet New Features Coming Soon!

At Vownet we have been rather busy the past few months/years. In June, we have managed to double our development staffing, so we are about to get even more productive.

Here is a list of some of the key projects we are working on at the moment, all planned for a release by September '19:

  • Google contacts & tasks, Outlook mail, contacts & tasks integrations will be live this week.
  • Consumer and commercial Asset Finance Tools with direct to lender lodgement functionality (Australia only). We already know that this will be by far the most advanced asset finance platform present in Australia.
  • New, improved client portal, making it easier for clients to add their data, documents and to track their deal progress.
  • New diversified tools and integrations that make it even easier to discuss/market other services with the client and refer to your referral partners straight from the deal.
  • Switch/refix process that keeps the right product in the deal even when the product is varied after settlement and posts new loan details to commission platform where available.
  • Updated tasks with task threads, events/meetings, critical tasks and automated task setting for fixed rate, interest only, intro rate and finance term expiry.
  • New advanced marketing functionality with advanced template and list builder, improved automation and campaign marketing and extensive reporting.
  • In addition to BankStatements integration, we are adding MogoPlus, CashDeck and Relie integrations for client expense and income verification.
  • We are adding Android app to already used iOS phone application.
  • Extensive event logging on deal, organisation and enterprise levels.

These are only some of the headline items, with many other improvements trickling weekly. Let me know if you wish to hear more or see a tour of these features as they are being built.

We will keep you posted when a new major feature is being ready to deploy.

AFCA Membership Renewal

The Australian Financial Complaints Authority (AFCA) have amended their membership renewal process which makes it easier to renew. This applies to those Broker's covered by Vow's Australian Credit Licence (ACL) and AFCA membership.

1. Brokers covered by Vow's AFCA Membership

What does this mean for you?

Being part of YBR's AFCA membership, we can now renew the membership on your behalf.

Aside from reducing your administration, there is also a slight discount to the cost of renewal ($55 excl GST) compared to renewing yourself.

What is the process?

We are working with AFCA to renew your membership ahead of the 31 July expiry.

The cost of the membership ($55) will be deducted from your commissions paid in August.

When we receive confirmation of renewal from AFCA we will provide further notification of this and a link to download the membership certificates.

Please note - unlike previous years, you are not required to send your membership certificate to the Onboarding Team.

2. Brokers not covered by the Vow AFCA Membership (either under own ACL or have not nominate Vow as licencee with AFCA)

Unfortunately, Vow is unable to administer on your behalf and you will need to renew your own membership ahead of the 31 July expiry.

As has been the case in previous years, it would be appreciated if you could forward the renewed membership certificate to onboarding@vow.com.au.

Further details?

Please reach out to onboarding@vow.com.au have any queries.