Since the launch of our Scenario Hotline a month ago, we’ve already helped dozens of Connective brokers with tricky loan scenarios, and have been able to give deal certainty on a phone call.
When you call 13 25 83, you’ll speak directly with an experienced Underwriter to workshop loan scenarios, answer your policy questions, and help you prepare applications for submission - they could even assess your deal!
Here’s how we recently helped a broker:
A call came into the Scenario Hotline from a broker who wasn’t sure if their client had the funds to complete, as the majority came from a gift. They also had a commercial default that was paid over 2 years ago. We were able to support this on Prime and confirm there would be no applicable risk fees, which the broker was surprised with, and the result was an application submitted within 1 week of the call. The same Senior Underwriter that originally took the call also assessed the loan, and it was conditionally approved within 1 business day of submission.
Watch our launch webinar to learn more about the Scenario Hotline.
Off the back of the recent RBA cash rate announcement last week, Dr Wilson took us through the latest home loan data and his thoughts on 2023. Watch the recording of the webinar here.
Also, take a look at his latest affordability update, including the impact of rising interest rates and inflation and the factors impacting borrower performance.
How we helped Emraude’s client meet a short settlement deadline, and gave them a product upgrade when they cleared their account defaults.
Short settlement deadlines can be difficult to meet at the best of times, but when the application has added complexities, finding a lender with fast turnaround times is crucial.
For Emeraude and her clients, we not only offered a fast solution which saw the customer make settlement, but also offered a product upgrade when a previous account default was cleared.
What was the customer’s situation and how did Connective Elevate help?How we helped Emraude’s client meet a short settlement deadline, and gave them a product upgrade when they cleared their account defaults.
The customers were looking to purchase an investment property with a short settlement turnaround time, needing equity released for the deposit, as well as a new loan to complete the purchase. To complicate the deal, one of the applicants had previous defaults. Connective Elevate provided the customers with the lending required to purchase their home under ‘Near Prime’, which was then upgraded to a ‘Prime’ product once the defaults had cleared. They were able to make the settlement deadlines, meaning very happy customers.
What made this deal unique or challenging?
The defaults in the customers credit report, together with the tight turnaround times made this situation challenging.
Tell us about your experience working with Connective Elevate
My BDM has been fantastic. The whole team has always been reliable and sorted out any matter promptly ensuring a great experience for myself and my customers.
In order to ensure the correct income is used for servicing, clarify any deductions on the payslips with the customer. For self-employed customers, losses and government assistance payments should also be removed from income for servicing.
This publication is intended for Connective and Bluestone accredited introducers and referrers only and is not to be distributed to anyone else, including consumers, under any circumstance. The information provided is general in nature and does not take into account your individual personal needs, requirements and circumstances. It is not a recommendation about any financial product(s) and does not constitute financial or tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. The information in this email is given in good faith, believed to be accurate at the time of posting and is subject to change at any time. Information accurate as of 10 February 2023.
Your Connective Elevate Home Loan is administered by Bluestone Servicing Pty Ltd (Bluestone) ACN 122 698 328 (Australian Credit Licence No. 390183) on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Distributed by Connective Credit Services Pty Ltd ACN 143 651 496 (Australian Credit Licence No. 389328) trading as Connective Home Loans. T&Cs apply. *Where Underwriter resources allow.
