Vow Voice 9th December 2019

• How was your induction and mentoring experience with us?
• What does it take to be a great mentor to new Brokers?
• Do you have ideas on how best to mentor new brokers?

We are on a journey to revitalise induction and mentoring for our Broker Network and we want to hear from you! Please take a moment to share your insights, experiences and ideas in this short survey.

As a sign of our appreciation for completing this survey, you will also have the opportunity to WIN a $500 Travel Voucher.

Take Survey Now

All survey responses are confidential and used only for the purposes of understanding the needs and requirements of brokers as we design a new Induction and MWe Wanentoring program for the network.

If you have any questions please do not hesitate to contact LandD@ybr.com.au or LandD@vow.com.au.

We will today be announcing our New Home Cash Bonus offer available from 1 January, 2020.

This offer will be available to any eligible customer who takes out new or incremental lending of $250,000 or more, or refinances an existing home loan to NAB of $250,000 or more, and draws down that NAB home loan between Wednesday 1 January 2020 - Tuesday 30 June 2020 (offer period).

Eligible customers will receive $2,000 with the New Lending Cash Bonus and/or; $4,000 with the Refinance Cash Bonus when they draw down within the offer period.

Eligibility:

To be eligible for the NAB Home Loan Cash Bonus offer:

• between 1 January 2020 and 30 June 2020, customers need to either:
  • drawdown a new NAB home loan by $250,000 or more, or increase the limit of an existing NAB home loan (and draw it down) by $250,000 or more (New Lending Cash Bonus), or
  • refinance an existing home loan to NAB of $250,000 or more (Refinance Cash Bonus), and

• the primary (first named) home loan applicant must hold a NAB personal transaction account at the time the Cash Bonus is to be paid.

The New Lending Cash Bonus and the Refinance Cash Bonus are both limited to one Cash Bonus per customer.

This will add to the already great offers we have today in market including, the recently announced waiver of our $600 application fee for all new Base Variable Rate applications. When you combine this with our Base Variable Rate Special of 3.20% it's a great time to do business with NAB.

Our 2.88% 2 Year Fixed Rate First Home Buyer special remains best in market.

We've also listened to brokers and customers and have removed the $60 Progressive Drawdowns fee on all residential construction loans.

Could I please ask that you support all of this great activity by sharing these great offers in your marketing and communications with your members. And if you could please connect me in with your relative marketing and communication teams for any support they require either before Christmas or the new year that would be great.

All of the detail of our great offers and full terms and conditions will be updated shortly and can be found at https://partner.nabbroker.com.au/offers

Click the below for the latest broker news from Health Professional Bank, Firefighter Mutual Bank, Teachers Mutual Bank & Unibank

Christmas SLA Update

After careful consideration, we have made a decision to cease the distribution of ANZ Personal Loans products through the Broker Channel. A number of factors were considered in the coming to this decision.

There has been no stronger advocate of the broker market over many years and we're working hard to again position ANZ as a broker's first choice where appropriate. We feel this decision will allow our BDM's and our Operations to focus on ensuring we continue to improve our core home loan value proposition to brokers.

ANZ will be ceasing the sale of ANZ Fixed Rate Personal Loans and ANZ Variable Rate Personal Loans ("ANZ Personal Loans products") through the broker channel effective on and from 2 January 2020. Referral forms for ANZ Personal Loans products will not be accepted on and from that date.

Current Personal Loan providers on our panel

• Latitude

• Military Bank

• MoneyPlace- part of Liberty and is doing very well in this space and would be considered a preferred provider

• Platform Group (i.e. WISR/Rate setter)

I have been predicting for the past few months that 2020 will see a major rebound in the Australian property market.

This prediction has been confirmed by the latest research by the highly respected SQM Research that is also forecasting a major recovery in property values.

Overall, their research indicates that national dwelling values could rise between 7 per cent to 11 per cent next year.

The company also predicts that Sydney and Melbourne dwelling prices will drive the nation's housing market bounce back next year.

SQM Research forecast that Sydney property values could rise between 10 to 14 per cent and Melbourne property values by 11 to 15 per cent over 2020.

Significantly, their research also indicates that property markets in other major cities will also see an improvement in property values next year.

For example, they are predicting that dwelling values in both Perth and Brisbane to rise between 3 and 6 per cent during 2020.

This positive outlook for the Australian property market has been further underlined by the new research undertaken by the ANZ and Corelogic.

It shows that housing affordability peaked in June, with forecasts property prices could reach record highs in the first half of 2020 if they continue at current rates.

National dwelling values were 6.5 times higher than gross annual household incomes in June, the lowest level since December 2013, according to ANZ and Corelogic.

There a growing expectation that the RBA will again cut interest rates in response to poor employment figures for October 2019.

Australia's unemployment rate jumped back to 5.3 per cent during October with the number of jobs falling by 19,000 over the month.

Concerns about a weakening job market has seen the RBA cut interest rates three times during 2019 and further interest rate cuts during 2020 will only benefit the property market.

DEPPRO is predicting that further cuts to interest rates in 2020 will encourage more people to enter the property investment market.

In particular, we expect more activity from mature property investors who have seen the returns on their cashing savings diminish due to falling interest rates.

These mature property investors are generally on high incomes and can use generous tax benefits associated with property investment such as depreciation to boost their cash flow so they can purchase investment properties that will help fund their retirement.

By Paul Bennion, Managing Director, DEPPRO