Resi's Reduced Fix and Alt Doc Rates

Resi has reduced its rates on the Flexi Options Fixed and the Agility Alt Doc products

Resi Flexi options fixed 2 & 3 year up to 90% LVR 2.99%%

  • Offset account available on all loans including fixed

Product features:

  • NRAS properties up 80% Refinance
  • Construction up to 95% For O/O
  • Construction of up to 4 units on one title
  • O/O lending starting at 3.29% P & I Variable
  • Bridging Finance Servicing on end debt only
  • No Credit Scoring below 80% LVR
  • Investment lending. Starting at 3.59% P & I variable
  • Investment lending up to 90% I/O
  • Offset account available on all loans including fixed

Resi Agility Alt Doc (Lo Doc) product:

Alt Doc special:

One form of supporting income document required for all Alt Doc Products:

  • Accountants Declaration
  • 6 month BAS
  • 6 Months Business Bank Statements

Rates starting at 4.62% for LVR up to 70% and 4.72% for LVR up to 80%

Product Features:

  • Alt Doc funding
  • Defaults and Non-conforming
  • LVR's up to 90% on Alt Doc
  • Business Lending up to 80% LVR when security is by Residential property
  • Unlimited cash out up to 80% LVR

For all supporting document checklists, service calculators and rate cards please go to:

https://www.vow.com.au/resi-home-loans

Or contact our sales team who will be more than happy to assist with any scenario or question:

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

Option 2 for Credit team or credit@resi.com.au

Matthew Cragg: National Credit Manager

Option 3 for Service team or service@resi.com.au

Celina Tramontini: National Service Manager

Commercial Lending Update

Great News for More Competition in Commercial Lending Markets

New lenders to our Panel over the past 6 months are Pepper Commercial & Private Funder Oak Capital, for details on these funders contact your Vow BDM.

We recently launched our first Private Lender to our Commercial Lending panel being Oak Capital, Managing Director Stephen Mitchell outlined the fund is currently at $150 million with plenty of capital available for short term funding on transactions that fall outside traditional lending channels.

Our brokers have the comfort of knowing this is a company that can deliver upon their loan approvals once in place, his contact details are Ph 0400 080 590 to discuss these loan scenarios.

Our other addition the Commercial Lending panel is Pepper Commercial headed up by Malcolm Withers formerly (St George Commercial), they are very keen for new business up to $5million for property-based securities that fall slightly outside the 4 major banks normal criteria.

Mal can be contacted on Ph 0455 291 958 and is always happy to discuss new deals.

Download the Vow Business Equipment and Asset Finance Booklet here

Risks Associated with Borrowing Private Funds for Your Clients

Over the past two weeks, I have come across 3 different deals from our brokers where they sourced funding for clients. Only for their clients to pay an establishment fee after a letter of offer is issued, to then find out the company cannot fund the deal and retain the paid up "fee".

Unfortunately, most of these groups set up under a name "Capital" with a website that appears legitimate, but at the end of the day have no intention of ever funding these loans just make a quick dollar up front with no regulatory body currently controlling them.

I am aware of two different firms, one in NSW and one in QLD. If you have any doubt contact me on glenn.mitchell@vow.com.au or on 0424377572 first for guidance prior to handing over any fees on your client's behalf.

Caught On Camera - Mortgage Broker

Masterclass Article

SMSF lending Remains Alive at Thinktank

SMSF lending (LRBAs) remain alive and well at Thinktank who offer solutions for both residential and commercial SMSF property loans. Funds are used for property purchases and refinances of LRBA's be it residential, commercial or related party loans if correctly documented.

TT will consider unique purchase arrangements that involve in specie transactions for Business Real Property matters and often see alternate borrowing structures such as Tenants in Common and Unit Trusts.

SMSF lending is still an active market for brokers to consider with Commercial LVRs at 75% and Residential SMSF at 80%.

Thinktank provide secured loans for the purchase of property, refinance and equity release usually supported by a commercial or residential freehold asset. Some specialised assets are also considered as security such as boarding houses with LVRs up to 75%

With loan terms up to 30 years and a full relationship service, Thinktank is there to assist brokers regardless of their commercial lending experience. Products range from Full Doc to Quick doc supported by alternate income verification options.

Extended LVRs are available for certain commercial loans, GST facilities for commercial property loans and SMSFs, and self-certification home loans designed for the SME homebuyer.

To find out more - please contact your local Thinktank Relationship Manager

Kat Gasparovic Relationship Manager QLD

07 3117 3787

E: kgasparovic@thinktank.net.au

Paul Burns- Senior Relationship Manager NSW /ACT

M: 0434 609 241

E: pburns@thinktank.net.au

Joel Harrison- Snr Relationship Manager VIC/ TAS

M: 0410 861 540

E: jharrison@thinktank.net.au

Tony Zaccari- Snr Relationship Manager SA

M: 0403 758 514

E: tzaccari@thinktank.net.au

Adam Hutcheson- State Sales Executive WA

M: 0434 609 239

E: ahutcheson@thinktank.net.au

Thank you,
Glenn Mitchell
Head of Commercial & Equipment Finance

Join FBAA for R U OK? Day

Source: Get Broker Fit

Join us for R U OK? Day as we bring you the first ever free to Industry 'Get Broker FIT' workshop.

Hear from expert performance and wellness speakers from A Higher Branch Success Academy, Beyond Blue and R U OK? as they share their stories.

Not only will you hear from qualified speakers within the Wellness & Wellbeing Industry, but you will also be involved in an educational workshop. Take away a blueprint you can implement to help you design a life, and a business that can lead you to a happier, healthier and even more successful YOU!

8.15 AM - Registration open, networking and welcome morning tea item
9.00 AM - Introduction Peter White
9.10 AM - Ambassadors R U Okay and Beyond Blue - Q&A time
10.00 AM - Vulnerable customers Suncorp
10.10 AM - Outstanding PERFORMANCE from the Inside Out Alessandra Edwards
11.40 AM - Brunch
12.00 PM - Becoming INVINCIBLE in 24 Hours Sam Makhoul
13.30 PM - Meditation Tom Sullivan
13.50 PM - Closing Remarks Peter White

Two Locations:
Melbourne - Wednesday, 11th September 2019
Sydney - Thursday, 12th September 2019

For more information and to register for your relevant location!

Register here

A Must Read for Every SME Business

We are thrilled to share with you Judo Bank's inaugural SMEconomics Report. An important summary that drills into and makes sense of, some of the key economic metrics critical to SMEs (Small and Medium sized Enterprises) and provides some practical insights you can apply to your business.

We hope you enjoy reading it as much as we enjoyed preparing it for you.

Click here to read the Judo Bank SMEconomics Report.