Brighten Lender Update

At Brighten, they are always looking for ways to improve the customer's experience. Today, they are delighted to introduce their unique refinance policy, Easy Refinance - a streamlined refinance process for non-resident borrowers.

Documents Required

  • The most recent 12 months mortgage refinance statements show clear conduct;
  • 3 months existing loan / Credit Card statements if repayment history is not shown on Australian Comprehensive Credit Report;
  • Clear offshore credit report which is free of any arrears or late payments; and

Eligibility

  • Dollar to dollar refinance only (may include a small increase of up to $10,000 to cover costs);
  • The new rate and monthly repayment must be lower than the existing rate and repayment;
  • Loan term to be equal or less than the remaining facility term of loan being refinanced; and
  • Clean credit history in both Australia and offshore.

Income and expense verification documents are not required under the Easy Refinance process, however, a Secondary Serviceability Assessment based on the information contained in the fully completed application form is to be completed. Should this secondary serviceability test fail a full assessment is required.

Please note, LVR/loan amount limits for QLD, ACT, SA, WA, NT and TAS have been increased. Please refer to the Non-Resident LVR/Loan Amount matrix in the updated Brighten Product Guide.

For any questions please reach out to your BDM.

Resi Essentials Promotions & Low Alt Doc Rates

Resi is pleased to announce the extension of the Essentials Near Prime and Essentials Prime Alt Doc Promotions for another month.

Applications can now be received up until the end of February and loans must settle on or before 30 April 2022.

ESSENTIALS NEAR PRIME

  • We are waiving the Risk Fee Up to a maximum LVR of 70%.
  • Rates commencing at 3.25% P&I Variable.
  • A minimum loan size of $250,000 is required.

ESSENTIALS ALT DOC PRIME

  • We are waiving the Risk Fee on the Essential Options Prime Alt Doc home loan, up to a maximum LVR of 60%.
  • The risk fee for LVR's over 60% have been slashed to 0.25%. A saving of 0.25%
  • Rates commencing at 2.99% P&I Variable.

Under Resi Essentials Prime Alt Doc we have reduced our rates to the following:

Essentials Prime Alt Doc OO P&I

  • 60.01% - 80% - reduced to 2.99% (from 3.60%). Comparison Rate of 3.05%

Essentials Prime Alt Doc INV P&I

  • 60.01% - 80% - reduced to 3.25% (from 3.75%). Comparison Rate of 3.31%

Essentials Prime Alt Doc INV IO

  • 0% - 60% - reduced to 3.25% (from 3.50%). Comparison Rate of 3.31%
  • 60.01% - 80% - reduced to 3.35% (from 3.95%). Comparison Rate of 3.41%

For more information, please contact your BDM or Broker Support.

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

The Future of Mortgage Broking

Mark Bouris was recently joined on the Broker Room Podcast by the Managing Director of the Finance Brokers Association of Australia (FBAA), Peter White, to discuss what the future looks like for mortgage brokers.

They discussed how the mortgage broking industry is expected to grow significantly over the next few years thus making brokers very important to Australians and the economy. There is great optimism that brokers will be be settling about 70% of home loans in Australia in the near future.

Also mentioned is the importance of a strong support network to have a successful career in the mortgage broking sector.

To read more about their conversation, click here.

Let's Kick Start 2022 | Something for YOU! - FINSTRO

FINSTRO are starting 2022 with a bang by kick-starting your revenue and providing an increase on your commissions for EVERY new Finstro client. Bonus commissions available across:

FINSTRO LOC Facility(Supplier Payments, Receivables & Cash-Out)

  • 4.40%GST Inc (For every & each new settlement/origination)
  • Plus, Trail
  • Are your customers back trading? Facing supply issues?
  • Are stock levels adequate or appropriately stocked? Perhaps need to increase stock levels higher than normal to cover supply chain shortages
  • Are recurring expenses covered for peace of mind?
  • Perhaps they need additional 'cash' for staff

FINSTRO CARD

  • 5.50%GST inc (On each new customer approved limit)
  • Up to 44 days interest-free
  • Tap n Go functionality
  • Use for small expenses, like fuel etc
  • Pay supplier invoices by taking a photo
  • Roll any transaction or purchase into 3- or 6-months instalments
  • Switch or extend repayment plans
  • Increase asset borrowing capacities
  • Use wherever Mastercard is accepted

Just let Finstro know their name and contact number, and they will do the rest. It's as easy as that!

For any questions please reach out to your BDM.

Conditions and normal criteria apply. Campaign for a short period only, so get in quick!

Brighten Boss Prime

Brighten Boss Prime Promotion Extended

Due to popular demand, Brighten is pleased to announce the extension of the Brighten Boss Prime promotion. The following promotional interest rates are available for new Brighten Boss Prime home loan applications submitted on or before 17 February 2022, approved and settled by 31 May 2022.

Brighten Boss Prime (Alt Doc)

  • Variable rate from 2.89%p.a.1(comparison rate 2.96%p.a.#) up to 60%LVR
  • Variable rate from 2.99%p.a.2(comparison rate 3.06%p.a.#) up to 75%LVR
  • Variable rate from 3.09%p.a.3(comparison rate 3.16%p.a.#) up to 80%LVR

Effective 18 December 2021, the following new interest rates apply to


Brighten Essentials (Full Doc)

  • Variable rate from 2.39%p.a.4(comparison rate 2.42%p.a.#) for loans at 70% - 80%LVR

Brighten Empower Prime (Full Doc with offset)

  • Variable rate from 2.49%p.a.5(comparison rate 2.72%p.a.#) for loans at 70% - 80%LVR

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

For any questions please reach out to your BDM.