IMBF World Summit - Important message from Peter White AM

IMBF World Summit - Las Vegas USA - Friday 8th Sept 2023, + invitation to attend free to the USA's NAMB's 50th Anniversary Conference Celebration 9th & 10th Sept (Sat & Sun)

Please note the below has been sent out to all FBAA Members, as well as to the members of other associations around the world who are a part of the IMBF of which I am Chair of the Global Board of Governors, plus there will be industry media on the same early next week.

This invitation to attend the World Summit is a first ever gathering from around the globe 100+ brokers and stakeholders from different countries to meet in one place being at Caesars Palace Las Vegas USA for the Inaugural IMBF World Summit (this is where the NAMBs conference is being held and they have gifted us/IIMBF floor space for this).

You are invited if you'd like to come, and so are any of your brokers should they wish to attend as this is not a FBAA (only) event albeit we are a part fo the IMBF, it is the IMBF's event, and its World Summit.

So if you feel inclined please feel free to circulate the below invitation (modifying the salutation if necessary) and at least be aware of what this is about in case you are questioned on it - we already have people signed up and paid to go in less than 7 hours from the release of the below bulletin, and I expect I will fill the Aussie quota for this very quickly (and yes there is always room to expand that). Any queries please reach out to me.

La Trobe Financial: Updated Broker Product Guide

Click here to view updated Broker Product Guide that came into effect 23 June 2023.

If you can please share the attached with your teams,

All lending product Term Sheets can be accessed by clicking on the product heading
on the left hand side of the Broker Product Guide.

Interest rates listed within the new Broker Product Guide are effective immediately and are to apply to all loans yet to be formally approved.

VOW: Do you have assets that you would like write-off this EOFY?

Do you have assets that you would like to write-off this EOFY?

Click here to view our specialists contacts.

Banjo: On the road again with Asset Finance Express

Banjo helped keep this business on track with finance for an engine rebuild. We call it success with Asset Finance Express.

Details:

  • Industry: Road Frieght Transport
  • Loan Amount: $110k
  • Time in Business: 4 years
  • Structure: Company
  • Annual Turnover: $2.9m
  • Total Deal Time: 3 days

A bit of a background:

  • The client is a road freight transport operator, with a successful track record of operating for 4 years with an annual turnover of $2.9M.
  • The business has a fleet of 9 trucks they contract to various companies.
  • After a truck breakdown, the client required an engine rebuild to get the truck moving again.

How did we help this business move forward?

  • Within 4 hours of submission, Banjo was able to review the application.
  • 3 days after the client's application was submitted, a $110k Asset Finance Express loan was approved.
  • The fast turnaround meant the client was able to get their truck back on the road faster.

ANZ: A win-win for you and your clients

Take advantage of this outstanding offer that benefits you and your clients when switching to ANZ.

Under the offer ANZ will:

  • Reduce either in part or in full, the Loan Application Fee for business loans up to $3 million.
  • Cover up to $10,000 of your clients' eligible business loan application costs, including documented expenses such as valuations, switching costs and break fees.
  • All of this plus, where eligible, our full standard commission structure applies for ANZ Business Loans up to $3 million - speak to your banker to find out more.

Your clients can apply for funding for any eligible business purpose including refinance, property acquisition and business expansion.
For new ANZ business lending customers and new applications only. Applications must be fully submitted to ANZ by 31 July 2023.

To find out more about this, or about our low fixed rates for business loans, please contact your Broker Account Manager today.

RESI: What's new with the Resi Essential Options Product?

Resi have already announced some fantastic enhancements to support you in providing suitable Home Loan Solutions for your customers.

All the new product and policy announcements are designed to increase borrowing capacity for your clients.

The following 5 enhancements will be available from the 1st of July 2023:

  • 40-year loan terms - now available on Prime Full Doc and Alt Doc
  • Salaried Self Employed - Enabling self employed clients getting a loan without the need to supply company financials.
  • Common Debt Reducer - allowing us to capture the clients true position and offer improved servicing.
  • Acceptance of Non-Standard Rental Income - we can now look at holiday rental income (eg. Air BNB properties) and boarding income
  • Continuing ATO Debt Payment Arrangements - because we understand every client situation is different.
  • Introduction of OSKO - so clients can redraw and transfer instantly to any participating account.

In addition to the above enhancements, we have also already announced the following:
1. 90% rental income allowance (10% shading)
2. Prime alt doc loan size / lvr matrix changes
3. Living expense requirements streamlined
4. Streamlining our processes to speed up turnaround times including modifications to asic searches, payg verifications and credit history explanations.

Resi is making more changes to assist you and your clients with their lending requirements. Look out for our next announcement on the policy enhancements.

For more details, please click here for a full description of our changes. Alternatively, please contact broker support or your BDM.