RESI Lender Update


We have gradually begun to roll out the pilot phase for securitisation products on account of which you shall notice certain changes in application processes as well as tools and product names. Here's a quick peek into what you can expect.

  • Within Vow Net, the securitisation product range may appear as an available funder in the accreditations section. These products, however, are not yet available for general use.
  • We continue to work closely with a small and select number of branches and brokers to test the product so that is it is robust enough and ready for the general public, branch and broker use.
  • As such, should you see this product, we would request you to not access it unless you have had discussions with Mick Abboud and his team.
  • Rest assured once we have completed the testing phase, comprehensive communications, and a roll-out program will provide you with all necessary information.

Discontinuation of Resi Smart Pro

Following an announcement late last year by Advantedge Financial Services, the Resi Smart Pro will not be available for sale from Monday 16th March 2020. From this date, no new applications will be accepted.

Changes on Vow Net

We will maintain a generic product on Vow Net for the purposes of any post-settlement variations that may be required. Permitted variations include but are not limited to:

  • Increases
  • Consents
  • Product changes - including fixed-rate requests
  • Partial discharges
  • Loan structure and applicant changes
  • Discharges

Customer Service

For existing customers, nothing changes. We will continue to extend our top-class post-settlement services to your clients.

For rate inquiries for existing customers and new accounts created by a further advance, please get in touch with the Resi Service team.

Renew Start - Our Pepper Funded Range

The access to the Renew Restart range will change as deals will directly flow to Pepper. Given are changes you could expect

From 24th February you will access Apply-on-Line via Salestrekker with the Resi Renew/Restart product suite.

New Forms
'Resi Fact Find' will be replaced by 'Customer Requirements & Objectives' form for all applications. The document is included in both Standard and Short Form Applications and is also available as a separate (stand-alone) form.

Resi Product Selector Tool

  • The current Pepper Product Selector (PPS) will be rebranded as Resi Product Selector
  • The Product Selector tool will return a Resi branded Indicative Offer and feature the appropriate Resi home loan solution (including product, rate and fees)
  • A revamped version of the Product Selector will be available to you
  • For now, Product Selector will continue to be available via the Resi Broker Portal and can be accessed through

Resi Resolve Tool

  • We are very excited to confirm that Vow brokers will be provided with access to Resi Resolve (previously Pepper Resolve tool). This access is automatic and will happen with no intervention from your end
  • What is Resi Resolve?
    • Resolve is an industry-leading broker conversion tool designed to provide you with an alternative loan solution for your customers when their needs cannot be met (or easily met) by their first-choice lender.
  • How does Resolve work?
    • When a Resi loan application gets declined, it is automatically processed through Resolve, which will immediately determine eligibility for a Resi loan product. In case a Resi solution is available, a customised indicative offer is shared with you detailing out the potential alternative Resi product, interest rate, fees, and conditions (if any).

New Broker ID
As part of the launch, you will receive NEW logins - a login for Pepper products and a login for RESI products. Click HERE for an example of the RESI dual accreditation message that will be issued.

Contact Details in case of clarifications
For Loan Queries (Loan Structure, Escalations, etc) refer to
For Loan Scenarios refer to
Phone 1800 737 737

Pipeline Management (New Deals) for Brokers
New applications will continue to be processed - no change.
All applications will be viewed by the submitting broker.

Existing Pipeline Applications
Existing applications (including pricing) will continue to be processed - no change.
The applications will be viewed via RESI Mortgage Management.

Looking to Save Time?

With the recent launch of our Easy Lodge Broker Support form, submitting electronic applications has got a lot easier.

This newly created short application form reduces paperwork required and simplifies the process, improving the overall customer experience.

In addition, we are offering priority processing for brokers who submit electronic loan applications and have a valuation completed upfront via our Valuation HUB.

FastTrack Credit Team

Electronic applications are immediately sent to our FastTrack Credit Team and processed for formal approval. This significantly reduces processing time, minimises errors and importantly, bypasses the need for conditional approvals and extended valuation waiting periods.

"Providing a simple process and fast turnaround times is vital for our customers," said Chris Meaker, La Trobe Financial's Transformation Manager.

We are also giving brokers the opportunity to win a new Series 5 Apple Watch. Every application submitted electronically generates an entry into the draw.

Terms & conditions apply to: click here

Watch this space for the latest developments.

-La Trobe Financial Team

CBA Launches Australian-First Protection for Homeowners

Commonwealth Bank has today launched Home Loan Compassionate Care. The product which the first of a kind for Australians, provides complimentary protection to residents of owner-occupied homes by covering repayments for around 12 months if they, their spouse or dependant pass away or are diagnosed with a terminal illness.

This comes as new research from CBA reveals a third of Australians would only be able to cover their home loan repayments for up to six months if they, their spouse or dependant passed away or were diagnosed with a terminal illness. Worryingly, one in 10 homeowners would only be able to cover mortgage repayments for one month or less based on current income and savings.

Angus Sullivan, Group Executive Retail Banking Services said: "We know that mortgage repayments are the single biggest financial commitment for Australian homeowners, so when the unthinkable happens we'll support our customers by making their home loan repayments for around 12 months at no cost. We're proud that together with AIA we have been able to deliver this Australian-first for new home loan customers and will be making it available to our existing customers at no cost to thank them for their loyalty."
The research also revealed that over half of Australian homeowners have not had a conversation with their spouse or dependant(s) about how they would meet ongoing home loan repayments if they passed away or were diagnosed with a terminal illness. Furthermore, while nearly half of all respondents said they manage the monthly home loan repayments, a third are not fully across the details of their home loan, with women (40 percent) more in the dark than men (29 percent).

"If something were to happen, the last thing you should have to worry about is your home loan. In designing this protection, we've made sure there's no need to sign up or to activate it. We've also consulted with our own employees who have gone through similar, difficult experiences to ensure the end-to-end claims process is as easy and stress-free as possible, and a dedicated team has undergone specialised training to handle these sensitive matters," said Angus Sullivan.
The research also uncovered that nearly half (45 percent) of respondents would need financial assistance to cover mortgage repayments, with that number increasing to 55 percent if homeowners have children under the age of 18 and were highest among those aged under 30 (67 percent).

Of those who said they would need financial assistance, two-fifths said they would look to family or friends when asked where they would turn for support to cover their ongoing mortgage repayments. The research also showed that while women were more likely to turn to their bank to discuss what options are available to them, men tend to rely on insurance or other banks or financiers for assistance.

Home Loan Compassionate Care is available for eligible Owner-Occupied home loan customers aged between 18 and 59 years. For details including how it works, limitations and exclusions visit

Source: Commbank

Top Tips for First Time Investors Buying a Strata Property During 2020

DEPPRO finds that the majority of property investors tend to buy strata properties because they are low maintenance.
The start of 2020 has witnessed a strong interest in strata properties by property investors following an upward pressure on rents that has lifted the rental yields of these higher density homes.

Over 70 per of the tax depreciation reports we at DEPPRO have undertaken throughout Australia during the first two months of 2020 have been for investors buying strata properties.
However, if you are a first-time investor, you should consider the fact that buying a strata property is very different from investing in a stand-alone traditional house. First-time investors should consider the following eight points when buying a strata company.

  • Shared Ownership: Buying a strata-titled property means that the ownership of the common property in a complex is shared and you have to work with other owners to maintain the value of the property, unlike the common suburban home.
  • The Strata Plan. The strata plan will help you to determine what you actually own. It will show you all units, common property, boundaries of the property and also if your unit has been allocated a car bay. The ownership of car bays can be critical in determining the value of the unit.
  • Council of Owners. The Council of Owners can play an important role in helping to increase the value of your unit. The Council of Owners make key decisions regarding the upkeep of the complex and ensure that all buildings and surrounding property are insured and maintained in good condition. A good tip is to obtain minutes from meetings of the Council of Owners for the past year to determine its effectiveness and if they have plans to upgrade the complex. If you purchase an apartment in the complex, you could consider being elected to the Council of Owners.
  • Strata Fees. As an owner of a strata-titled unit, you will have to pay strata fees for the overall maintenance of the complex and to pay for associated costs such as insurances. You should check the cost of these strata fees and if any special levies are planned, e.g., to install a swimming pool for the complex or to upgrade the lifts. Complexes with special facilities such as lifts or swimming pools tend to have higher strata fees.
  • Financial Reserves: You should enquire from the real estate agent selling the property how much money the strata complex has in reserve to pay for the maintenance of the complex and any planned improvements to upgrade it. If the strata complex has large arrears, then this means that they may have insufficient funds to maintain the complex and pay important commitments such as insurance.
  • Age of complex. The older the complex, the more maintenance and updating it may require i.e. new security gates for car parking. If you are buying older strata titled unit, you may need to factor in higher holding costs over the longer term.
  • Renovations: You may consider buying an older unit for the purposes of renovation. However, it is important to remember that you may need the approval of the strata company for externally visible improvements, such as adding a pergola to the balcony. For example, some strata companies have passed resolutions at Annual General Meetings which ban the use of skylights. The resolutions passed at AGMs are binding on all owners.
  • Tax depreciation: The tax depreciation benefits associated with buying a strata property tend to be higher than a traditional stand-alone property. They can amount to up to 60% of the value of the property so it is important to claim all of your tax depreciation benefits when buying this of property class.

Paul Bennion, Managing Director


Business ResiSec Loan 3.99%

I hope you're well and bursting into 2020.

Part of the Banks strategy for 2020 is to provide support for the much-neglected SME sector, and in line with this objective, we are delighted to launch a campaign for our ResiSec product.

As the name suggests this facility is provided for businesses who utilise their residential property as security be it owner-occupied or investment property.

The details of the product are contained on the attached flyer and we've just sent a Bulletin to all of our accredited Brokers to alert them.

Can I request that the attached flyer be placed on your website, platform, library or wherever it can be accessed for your brokers to view.

If you need any further assistance, please get in touch.

I'll be back with more exciting offers as the year progresses.

Best wishes

Steve S

MoneyPlace Joins Vow

We are happy to advise that MoneyPlace has joined our Vow Panel.

MoneyPlace is the unsecured Personal Loan arm of Liberty, who have been in operation for 5 years, assisting clients in getting a better deal from the banks when it comes to consumer lending.

MoneyPlace key niches :

  • MoneyPlace can provide Gap Finance in the Mortgage space - if clients are looking to do a future purchase or refinance we can consolidate debts into one repayment improving cashflow, servicing and improving the credit file for that future mortgage transaction.
  • Their technology allows you to complete a 2-minute rate quote (will not show up on the client's credit file) and then to proceed to a 5-minute application.
  • Rates starting at 7.65% and can consider any purpose as we aren't reliant on the asset.
  • They provide 7-year loan terms with no exit penalties or monthly fees - helping with cash flow and servicing.
  • They can consider Tax Debt and Equipment funding.
  • They can consider clients with a credit score as low as 300, which allows your team to capture a wider market share in the Personal Loan space.
  • They can look at clients that have paid and unpaid defaults as long as listed for 12 months - we buy wider than our competitors when adding the low credit score entry-level.
  • They Lender Assistance Fee (Brokerage) is $975 per deal. A broker can reduce fees where applicable.

As an approved broker under Vow Financial MoneyPlace is happy to offer automatic accreditation.

For any further assistance please don't hesitate to contact:

Mo Farahat - National Broker Support
0428 460 503

Daisy Yu - Business Development Manager VIC
0455 237 238

Alf Vasta - Head of Broker
0428 299 545

- Peter Bryant, NSW State Manager Vow Financial