Edition #22

Work with Home Now

Take care of your clients during their moving experience. Offer to help them make savings - and have a smoother move - by introducing Loan Market Home Now.

What does Loan Market Home Now do?

Loan Market Home Now is a comparison tool and connection service for your clients, to make their moving experience easier. You can provide your clients with this invaluable service to ensure their running costs are as efficient as possible.

The utility services panel is made up of 36 electricity, gas, broadband, home entertainment and water providers. The website makes it easy to compare between companies and products. Check out homenow.loanmarket.com.au

How do I send referrals to Loan Market Home Now?

Clients with specific move-in dates can be referred manually using our referral page here https://homenow.loanmarket.com... or contact our relationship manager Sarah Chapman to register. It takes 2 minutes.

Special pricing and a new home for Loan Market Go

Earlier this month we launched a special rate of 3.99% p.a. on new residential investor principal and interest variable rate lending.

In addition to this we are also offering pricing concessions on some investor interest only loans - both variable and fixed. For pricing on all scenarios, speak to your Loan Market Go BDM.

These updates, including the current rate card and more, are now available in Springboard. Or use the links below to take you directly to key Loan Market Go information.

Top 5 reasons to partner with wealth market

 There are many reasons to partner with a Wealth Market Financial Adviser. Here, we outline the top 5.

  1. We can help grow your income by diversifying your revenue streams - earn additional revenue with 15% referral fees, for clients who proceed with receiving financial advice services.
  2. We can help you deliver something different to other brokers in the market - giving you and your business a competitive advantage.
  3. We can help add value to your service offering by working closely together as a member of your team to deliver broader and market leading financial services to clients.
  4. We can help build ongoing relationships with your clients (loan duration with good financial planning extends from an average of 5 to 9 years), which helps to maximise your trail and loan book value.
  5. We’ll help to identify new opportunities and leads to pass back to you for finance, refinance and asset finance.

Thank you to all the brokers who are working with Wealth Market. It’s great to be working together.

If you are not working with a Wealth Market adviser and would like to get started, it’s easy! Simply email Andrew Ash to get your referral agreement in place.

Customer communication: the compliance perspective

From a compliance perspective, when we talk about communicating with our customers, what we mean is taking all reasonable steps to ensure your customer is on the same page as you, in terms of understanding.

It is sometimes easy to forget that not everybody has the same requisite knowledge that the individuals within our industry have- this is where misunderstanding can happen.

When communicating with your customer, it is essential that you seek confirmation that they understand all elements of the finance they are applying for.

One issue that has featured in more than one recent dispute being handled by Loan Market is Rate Locks. The terms and conditions associated with Rate Locks should be discussed with customers, and a record of this discussion should be uploaded to form part of the loan application’s supporting documentation. These can be captured in a broker’s notes, on the CPA itself, or via uploaded email correspondence. It is imperative that the broker does not rely on the lender’s documentation to flesh out how these features work.

Recent broker investigations have gleaned the following salient points:

  • Don't change anything on a document without having the client initial the changes. This includes dates.
  • If you become aware that information provided to the Lender is incorrect or misleading, notify the Lender immediately and provide the correct information.
  • Be careful about withdrawing applications from lenders. If you do it too often it will come to their attention. If you are requested by a lender to provide more information and the customer is not willing to provide it, notify the bank and then withdraw if need be.
  • If a Lender BDE gives you advice get it in writing or send an email confirming the discussion.
  • Load your documents into the system.

Should you require any further information, please do not hesitate to contact Compliance at compliance@loanmarket.com.au.

Get your Lender Weather Update on Springboard

Want to know the latest from our lender panel? Stay up to date with our weekly lender weather update video, available on the dedicated channel on Springboard.

This week's update includes:

  • CBA
  • Pepper Money
  • La Trobe
  • Beyond Bank
  • Loan Market Go

Drive raises $150,000 for MND

Community spirit was in overdrive when Loan Market State Director for WA, Ken MacLennnan and a team of 12 Loan Market people, took part in the Drive for MND to raise funds, and awareness, for people living with Motor Neurone Disease.

In total, 80 people travelled in 20 cars from 10-12 November 2017, raising close to $150,000 for the cause.

This was Ken’s fifth Drive for MND and he is also the Drive Director (meaning he plans the drive). The catch for the drivers this year was that the route and journey details were kept a secret for participants - it was a true mystery tour.

Congratulations to all involved on this amazing effort to raise funds for this worthy cause.

Connect 2018

Get in quick to save $130 on tickets to our key conference - Connect 2018. Tickets at the discounted rate of $645 per person are available for a limited time only. The ticket price will revert to $775 per person once the earlybird allocation is exhausted.

Connect 2018 brings together Loan Market Group and Ray White Group and will feature:

  • The chance to leverage networking opportunities with our partners at Ray White Group
  • Loan Market awards event
  • Dedicated Loan Market day
  • Awesome party

Book here.