Edition 38

From our family to yours

2018 has been a year of many challenges as lenders tightened and changed their credit scenarios, it took longer to lodge applications and we felt a state of uncertainty from the Royal Commission. But throughout it all, you worked harder and continued to do more for your customers. 

As a group we achieved a lot too, Executive Chairman Sam White celebrates 2018 and looks forward to 2019. 

30 Under Thirty ranking announced!

The Adviser has announced its 30 Under Thirty broker ranking, with three Loan Market brokers joining the pack.

The annual ranking names Australia’s top brokers who are under 30 years old, and meet criteria based on the total volume of residential loans written over a given period, the number of mortgages written in the same period, and volume of other loans.

We congratulate our 3 Under Thirty brokers;

#11 Balpreet Bal
#16 Jacob Decru
#20 Tiarne Leayr

It is great to see some standout results come from industry rankings, despite a testing credit environment this year.

Annie Kane, editor of The Adviser, said “this year showed how strong the broking sector is, and how hungry and hard-working young brokers are.”

“The success of a new broker is reliant on hard graft, persistence, ongoing learnings, and the continued support of their family and friends, aggregators, brokerages and industry associations that foster new talent and help new-to-industry players find their feet in a highly competitive profession”, Ms Kane said.

This ranking caps off what has been a stellar year for Loan Market, winning a record number of awards and ranking. We are so #proud of what our network has achieved in 2018, and can’t wait to get even more wins under our belt in 2019.

Ratesetter joins the Loan Market Panel

RateSetter, Australia’s leading peer-to-peer lender, has fast become the lender of choice for brokers for personal and car loans. Their personalised rates and leading platform deliver a simple, fast and great value loan application process for brokers. Whether your clients need funds to consolidate high interest debt, complete some home improvements, purchase a new car or general lifestyle related loans like a holiday, wedding or medical, RateSetter’s low-rate personal loans give you new ways to help your existing clients or attract new ones.

Why diversify with RateSetter?

  1. Flexible loan purposes for asset purchases, home improvements, debt consolidation, holidays, weddings and everything in between!
  2. Easy online application and digital end-to-end process
  3. Competitive interest rates from 7.49% and no early repayment fees or exit fees
  4. Flexible loan terms from 6 months to 5 years, for amounts up to $45,000  

RateSetter is Australia's highest rated personal loan provider with over 97% of reviewers on ProductReview.com.au rating them 4/5 or above

RateSetter Car Loan provides brokers a seamless, fast and simple online application-to-settlement journey with marketing leading fixed interest rates for amounts up to $100,000 and loan terms up to 7 years, making it a highly competitive consumer car finance product available to loan market brokers. RateSetter’s flexible offering can be used both to finance the purchase of a vehicle or to refinance an existing car loan. Other notable features of the product include the availability of same-day settlement/funds transfer and the ability to repay the loan early with no exit or break fees. Physical inspections are not required, even for private sales.

So, when will you be able to access RateSetter’s offering?
A full rollout will take place early 2019, and Ratesetter will be in contact to provide you with your login details and advise of webinar dates.

You are already accredited and set up to access Ratesetter products.

Should you need to access Ratesetter prior you can email brokers@ratesetter.com.au or phone 1300 889 332 (Available Monday – Friday, 9:00am – 5:30pm AESDT)

Get the latest on Loan Market Go, including credit policy changes, new tools and changes to rediATM use.

At Loan Market Go, we’re committed to responsible lending and supporting you to deliver a great customer experience.

Please see below a summary of the latest updates with full details available here

  • Improving turnaround times: Currently a new deal is taking 6 to 7 days to assess. In most instances, supporting docs are being assessed next day in cases when all documents have been provided. The team are working overtime to improve deal turnaround times. By end of Jan, turn around times are forecasted to be back to 48 hours.    
  • Credit policy changes: Effective Monday 10 December 2018, we’re making credit policy changes which will impact the Serviceability Calculator.
  • Geographic Postcode Tool: Effective Monday 10 December 2018, we’re making available a new geographic postcode lookup tool.
  • Changes to rediATM use: On 1 January 2019, our customers will no longer be able to transact fee free.
  • Reminder: Settlement and valuation cut-off dates: To ensure settlements and valuations are completed before the Christmas holidays, please note our servicing cut-off dates.
  • Loan Market Go have extended their $0 annual fee offer until 26 April 2019.

If you have any questions, please get in touch with your Loan Market Go BDM

Bee part of the next national CSM HIVE

Calling all CSMs, before you run out the door for the well-deserved Christmas break, join us for the last Hive of 2018!

When is it? 

Wednesday 19th December, 12:00pm - 12:45pm AEDT

Your host: Rayner McIntyre  

What's in store?

Marketing - how to stay in touch with your clients no matter what stage of their journey

Compliance - What to do when your client is declined 

Quiet zone - What you can do now to make 2019 easier for you

Springboard - competition winner, and some hidden gems

#brokersworkforyou campaign - Sam White is calling on everyone of you to get involved

We will also be tackling the top 3 FAQs of the broker marketing inbox. 

Don't miss the last CSM Hive of 2018! Register Here

Asset Finance Workshop - Register now!

Are you an experienced and specialist writer looking to upskill your knowledge in Asset Finance? Then we have the workshop for you! 

Register now for the Asset Finance workshop on Tuesday 5th of February 2019 located at Loan Market Head Office.

You will learn:

  • Introducing Asset Finance software solution
  • How to get more business
  • What other products and opportunities exist in the Asset Finance and SME space
  • Understanding industry trends
  • Interactive marketing session demonstrating tools available and work-shopping your future requirements

Who should come?

  • Asset Finance Specialists
  • Brokers already writing Asset Finance and committed to doing more
  • Brokers looking to appoint an Asset Finance specialist in their business

This event is sure to sell out - make sure you register now to secure your spot!

The time is now to reprice with your clients!

Providing the best customer service for your clients is at the core of everything you do as a broker.

Make sure you set some time aside each month to look at your existing clients and see if you can get them a more competitive rate with their existing lending.

Why reprice?
With the lending environment changing almost daily and everything going on with the Royal Commission, we need to deliver as many WOW moments to our customers as possible.

Now is the time to build repricing into your process and give someone an early Christmas present!

Check out our canned response you can use to celebrate with your clients.

Franchise Cyber Security Checklist

One of the main challenges we face is the lack of visibility into the cyber security posture of our franchise network. Speaking to the network we sometimes find that even foundational security strategies are not being followed. 

In response to this we developed a Franchise Security Checklist. This is a document outlining foundational cyber security strategies aimed at assisting our network improve their cyber resilience. These printed brochures were available at Connect and we are now pleased to announce that there is a PDF version that you can download yourself.

We encourage you to go through the checklist and see how your environment compares. Your IT provider should be able to guide you through the list. If you need assistance or don't have a trusted IT provider please let us know. We can assist you with this process and recommend an approved IT provider to help keep your business secure moving forward.

The PDF version of the Franchise Security Checklist can be found here.

If you have any concerns on the cyber security of your office or general questions around cyber security please feel free to reach out at cybersecurity@loanmarket.com.au

Cancel your G Suite subscription - storage is now free!

Our recent upgrade to Google Suite Business means you no longer have to pay for additional storage and can cancel your subscription. Your data is now within our G Suite for Business environment and is protected, secure and accessible.

Be sure to cancel now so you don't get charged when the next payment rolls around.
To cancel your payments follow these steps:

  1. Click here
  2. Click on the ‘Manage’ tab

  3. Click 'Cancel subscription'

  4. Approve the cancellation of the subscription and enjoy unlimited data storage!

Should you have any issues or questions, please contact IT at heath.honnery@loanmarket.com.au

Christmas closure dates

The Loan Market corporate office will be closed over the Christmas period for the following dates.

Loan Market Corporate closed from Monday 24th December - Tuesday 1st January (back in office Wednesday 2nd January)

Broker Support Office closed from Monday 24th of December - Tuesday 1st January 2019 - ensure you get your data entry requests in before the 21st of December.

IT Support - will be closed 24th December - 1st January 2019. For any urgent IT support contact 02 9249 3772 or 07 3231 2181

MyCRM - will be closed 24th December - 1st January 2019. For any urgent MyCRM support contact 07 3231 2283

Have a safe and happy holiday break. See you in 2019! 

Make sure your clients are covered in this wild weather!

How much do you know about Loan Market Insurance complimentary cover? It can be confusing so we want to give you a run down, it’s especially important with all the crazy weather events lately like the fires in North Queensland and the November storm in Sydney.

Loan Market Insurance offer a 30 day complimentary interim insurance to your clients arranging finance through Loan Market. This interim cover is for building insurance up to $750,000 (when there is no body corporate involved) and fixed contents (such as carpets, blinds and curtains) up to $10,000. To activate the cover your client must speak to an Insurance Specialist so we can ensure the cover is right for them (they might need more or something different), the best way is to call 1800 14 20 20 or email concierge@loanmarket.com.au.

The best way for you as a broker is to warmly refer your clients when the loan has gone unconditional - whether you call, email or use our warm referral form, the insurance will be processed straight away by our Account Managers. If your client chooses to purchase an insurance policy with a free period up until settlement, you will also receive commission on these policies - double win!

Mentor Accreditation Program

The Loan Market mentor accreditation program is a step-by-step guide to mentoring your loan writers with everything you need to know, including (but certainly not limited to):

  • Compliance requirements
  • Monthly agendas
  • Marketing checklists
  • How to induct new staff
  • What to do after induction
  • How to keep them accountable

Being a mentor brings many benefits to you and your business, including:

  • Full support for you and your mentee through Springboard courses
  • Opportunity to diversify your business by giving your mentee the know-how to incorporate other services offered by Loan Market
  • Increase your industry profile and become and esteemed professional

Find the launch and the full program here.

Download the assets here

Or contact learning@loanmarket.com.au

Loan Market Media Policy

Now more than ever mortgage broking, consumer lending and the financial services industries are under the spotlight. With that comes opportunities and risks.

The Loan Market Public Relations team is here to guide our brand through this, ensuring that our reputation, and yours, is reflective of our family (not bank) values.

As such, it is important to reinforce Loan Market’s media policy.

If you are approached by the media do not agree to an interview, rather politely tell the journalist that all media enquiries must go through Loan Market Group media team.  

Ask for their;

  • Full name
  • What publication they are writing for
  • A summary of the story they are writing and the types of questions they will be asking
  • And, their best contact number

Then promptly call or email Loan Market Head of PR and Communications Stacey Moseley on 0428 000 561 or stacey.moseley@loanmarket.com.au

Read the Loan Market Media Policy HERE