Redzed Joins the Lending Panel

Vow Financial P/L is pleased to advise the formal approval of "Redzed" to our Commercial & Residential Lending panel as from 1st November 2020. By way of introduction, this group have operated in the financial markets since 2006 and have originated $3.9 billion in Commercial & Residential markets.

They have entered the aggregator broker channel over the past 12 months with selected groups aggregators, offering specialised loan products to self-employed borrowers. We consider this void in the market will be critical post CV19 and Redzed will play a critical role for brokers operating in these markets.

They have a National Sales team ready to support our broker network over the next 12 months, please contact your BDM or Glenn Mitchell directly for further details.

Pepper Commercial Update

Effective 1st October Pepper Money has reduced the interest rates across their Prime Alt Doc, Near Prime Full Doc and Near Prime Alt Doc products as well as lowering the Establishment Fees on their Near Prime Full Doc and Alt Doc products.

Rate and fee reductions are effective from 1st October and valid for all loans lodged on or before the 27th November 2020.

  • Full Doc Rates from 4.50%
  • ALT Doc Rates from 5.00%
  • LVR's up to 75%
  • Loan Terms up to 25 Years

Example of a Customer solution:

Pepper also recently helped a customer reduce their repayments by over $17,800 per year. The 25-year loan term with 100% offset sub-account was ideal for this customer.

Click here for:

Full Interest Rates

Pepper Commercial Quick Reference Guide

*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.

Resi Essentials Update

We are thrilled to announce the launch of a special offer for our Essentials Alt Doc & Near Prime offering wherein we shall be charging zero risk fee from Nov 1, 2020.

Here are the conditions of the offer

  • Applicable to loans received for November and fully submitted by 30th Nov 2020
  • Minimum Loan amount of $250,000
  • Max LVR - 70%
  • Loans must settle before 29th Jan 2021

Resi Essentials

In addition to some fantastic rates, excellent in-house service and product features, this waiver will result in a substantial saving. On an average loan size of $500,000, an applicant would save a whopping $3750! This is, therefore, not to be missed opportunity for your clients.

*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.

Teachers Mutual Bank Update

Effective 27 October 2020, Teachers Mutual Bank Limited's NextGen ApplyOnline submission platform will be enhanced to include Lender Shared Loan Documents.

This means that the Bank will no longer email Conditional Approval, Unconditional Approval, and Decline Letters to brokers.

How do Lender Shared Loan Documents work?

  • Once an application progresses to Conditional Approval, Unconditional Approval or a Declined status, you will receive a notification that a new loan document is available.
  • The notification will include a link which will direct you to ApplyOnline's Status Tracking tab, which is where you can find your client's Conditional Approval letter, Unconditional Approval letter, or Decline Letter.

ApplyOnline Shared Loan Documents

For further assistance regarding the above, please reach out to your BDM.