Empower Update

Recently we alerted you to some recent changes in credit policy for the Empower Range of loans, if you missed it, the link can be found here.

Today we thought we would highlight the service levels for our Vow branded range and provide you with some tips and hints on how to have your deals processed in the shortest possible time.

While the current service levels are published regularly and are displayed below, to provide you with the confidence to follow the recommended process, we have provided a table below which details the service levels that have been delivered over the past 12 months. Noting that service levels have improved over that time, you can see that the processing arm of Macquarie provides us with some of the best turnaround times in the industry.


25th percentile

50th percentile (median)

Time to indicative

1 day

2 days

Time to formal

2 days

5 days

As you can see from the table above as well as the published results below, turnaround times are fastest when all supporting documentation is provided upfront.

Here are some tips to help your deal speed through the system:

  • Submit a completed valuation report with your loan application
  • When providing bank statements to support the application, check that your clients' monthly expenditure is in line with their declared living expenses, if not, please provide some commentary as to why.
  • Also ensure expenses are appropriately allocated into the categories in ApplyOnline and they are consistent with those used in the servicing calculator.
  • Enter your client's name and DOB exactly as they appear on their ID.
  • Ensure payslips are consecutive and no more than 60 days old.
  • Include the application reference number in the subject of your supporting documents email.
  • Send your supporting documents to docs@loans.macquarie.com
  • If you haven't already done so, activate back-channel messages in ApplyOnline to get application status updates.

With some lenders, gaining the queue is necessary, that being getting the deal in before all information is to hand. Given Macquarie's processing times, this is not necessary and actually counter-productive and slows your application down, get all the information together, submit with care and the results will flow.

Current Processing times (effective 27 August)

BOQ Mortgage Offset Account Fee Changes

From 1 September 2018 BOQ has made changes to their Mortgage Offset Account by removing fees to make it better suited for your customer's transactional banking needs.
These changes mean customers can use their Mortgage Offset Account for everyday transactions and still save interest against their home loans.

Click Here to see how your customers can take advantage of these benefits!

Learning and Development Update

L&D Update

The following articles have been added to VOW Chat:

  • What the average Australian spends in a month
  • Redraw Benefit - Can a lender take it if they choose to?
  • Why accountants' clients are being refused credit
  • Royal Commission Updates

New CPD Content:

  • Affordable housing policy and how migration affects housing Article (1 CPD Point)
  • Tighter time in property & easing Australia's housing pain Article (1 CPD Point)

New Webinar Content:

  • Suncorp Commercial Masterclass Webinar (1 CPD Point)

Latest broker news from teachers mutual bank, unibank & firefighters mutual bank

Change in Assessment Rate

The Bank continually reviews its Risk profile, and to ensure the Bank continues to meet its regulatory obligations, effective Tuesday 4 September 2018 the Bank's home loan assessment rate will be changing from 7.30%p.a to 7.41%p.a. applicable across all brands of the bank.
Click here to view the full announcement.

Equipment & Finance Referral Options

We remind our broker network of the full access you have to our loan specialists nationally, they can provide the best possible outcomes for your clients in both products and pricing for these type of deals.

For further details click here

Resi Special offers - iPad giveaway and more...

We are very pleased to be able to inform you of a new special offer for our Resi Renew/Restart range as well as a giveaway for supporting your in-house mortgage manager.

First of all, a 30 second snippet on the Resi Renew-Restart Product range:

  • Funded and assessed by Pepper White Label. Special pricing minimises overall costs for your client, so that either the interest rate is lower than Pepper retail (where a risk fee is payable) or your client can avoid a risk fee and save thousands on the initial set up of the loan.
  • Loans submitted through the Resi portal on Apply on-line, but are passed on and processed directly by the Pepper White Label team, no double handling and fast approvals.
  • Full range of product options available, Prime, Near Prime and Specialist. Full Doc and Alt Doc as well as construction options.

Now there are even more reasons to utilise the Resi Renew - Restart range:

  • Upfront Fee Waiver on our Near Prime Range*.
    • $0 Establishment Fee (including standard valuation)
    • $0 Title Protection Fee
    • $0 Standard Lender legal Fees

This offer excludes construction loans, but can be used to compliment the nil risk fee offer on the majority of our price points!

* Promotion available for applications received from 3 September - 2 November 2018 inclusive.

  • Win an Apple iPad with Resi

  • Submit any application to Resi for our Renew / restart product range (funded by Pepper white label) during the months of September / October 2018 and go into the draw to win an Apple iPad 32GB Wi-Fi (Space Grey) (6th Gen)
  • One entry into the draw per loan application, the more applications, the more entries into the draw.
  • Winners will be notified via e-mail and in Vow Voice

Any questions, don't hesitate to get in touch with the team.




Jason Hulbert

0468 755 419


Craig Herden

0478 537 841


Tony Wakim

0416 409 100


Rimi Begum

1800 737 448