Finance & Coffee Talk with Dien

Finance Talk with Peter White (FBAA), Julian Wills (F&C Compliance Guy) and Ray Regmi from Ryker CapitalTopics:*Rev NSW Payroll Taxview from the FBAAview a from outside of the LMGview from Ryker for someone setting up a business today*US Tarrif War doing funky things to the Sharemarket and people's SuperWill this affect RBA Rate Movements?Does this mean things like living expenses are going up?What is in someone's Super?Is this an opportunity to talk about SMSF Lending?*If cost of living is going up, will people cut their Insurance?Disclaimers in the videoFor the new brokers out there - do you include a professional relationship in your process?

Your hosts⁠Sadish Visvalingam⁠ and⁠Beth Comino⁠Joining them for this episode isAndrew Tan⁠ from Masters Broker Group in VIC.Andrew has been in the mortgage game for a long time. He has been a Banker, a Broker, Co-Owner of a Sub Aggregator (which he sold), and then about 12 years ago he started Masters Broker Group with Mario Borg. Initially as a broker mentoring business that has since grown out to also be a Sub Aggregator under Connective.This week's wrap will focus on one subject. Making the news this week, David McQueen, CEO of Loan Market spoke to the audience at the LMG top 100 summit that Broker Market Share is expected to hit 80% by the end of the year.Source: https://www.mpamag.com/au/specialty/education/loan-market-boss-warns-on-complacency-as-broker-dominance-nears-80/523572We speak to Andrew and asking him how does a broker make it in an environment that will see the banks clawing back their market share with more determination than ever.We also Segway into his wisdom / experience with new brokers entering the industry, and his tips for those going into their 3rd year as business owners.

So you made it into your 3rd year running your broker business, now what? You are, in theory, exiting the "Survival Mode" and now entering the "Growth Mode" of your business. Do you pivot? Do you get a mentor? Do you bring on more staff? What roles should the new staff members do? Does more staff equate to more revenue / profit? We ask Justin to impart on the experience that he had, the highs and the lows of someone running a business. Whilst Lending 4 U is based in Tasmania, we are sure that the experiences are pretty common for any brokerage.

Your hosts Sadish Visvalingam and Beth Comino are back in the first Friday Wrap for 2025! Joining them this episode is Justin Delanty from Finance 4 U in TAS. Justin also happens to be the State President for the FBAA in TAS. The final half of the podcast is where we ask Justin what advice he would give someone in their 3rd year as a business owner. ------------------------------------------------------------- But first up.. the news. Items in the news this week: 1:Most commonly asked Questions in 2024 - what will make the list in 2025? Source: https://online.fliphtml5.com/wcyhl/tzit/#p=1 ------------------------------------------------------------- 2:KYC - New Year means new referrals. But care needs to be taken incase you lose your accreditation Source: https://www.facebook.com/groups/471487283058255/posts/2824819344391692 ------------------------------------------------------------- 3:Interest Rates - will they or wont they Source: https://www.abc.net.au/.../inflation-q4.../104870480 ------------------------------------------------------------- 4:DONT bag other brokers in Ads / Socials / ANYWHERE! - Dien will find you and remove you from the group. lol Source: https://www.facebook.com/photo/?fbid=10162721052878980&set=gm.2822419381298355&idorvanity=471487283058255

Todays hosts are Sadish Visvalingam and stepping in for Beth CominoBeth Comino is the lovely Chelsea Deacon. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers. In the hotseat this week we have David Browne, Mortgage broker with 16+ years experience in finance. Prior o being a broker, David worked for Westpac for almost 20 years. Manager Legal & Compliance and establishing loan processing centres! David is also Co Founder and Director of Remote Broker Solutions. ------------------------------------------------------------------- News Topics this past week: (1) Fair Work Australia case where a business directly employing someone outside of Australia is still subject to FWA rules and regulations. Source: https://www.fwc.gov.au/.../decisionss.../pdf/2024fwc2669.pdf ------------------------------------------------------------------- (2) AMP announces commission changes last Friday (after the wrap had gone to air. Will others follow? Source:https://www.facebook.com/photo/?fbid=3899141367037120&set=gm.2773700406170253&idorvanity=471487283058255 ------------------------------------------------------------------- (3) VIC State Government implements changes to reduce investment properties? New Victorian Short Stay Tax & Vacant residential land tax. Good or Bad?Source:https://www.sro.vic.gov.au/short-stay-levyhttps://www.sro.vic.gov.au/vacant-residential-land-tax-- ------------------------------------------------------------------- (4) Australian Gov takes steps to ban under 16 from Social media.What does this mean for you? Will F&C need a new home???? Source: https://www.abc.net.au/.../how-the-age-minimum.../104571790

Today's hosts are Sadish Visvalingam, and back from her well deserved holiday, Beth Comino. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers. In the hotseat this week we have Rachael Bland. Currently streaming from the Philippines on a work trip with 2 other broker buddies.Topics this week: (1) Recent discussion based on a FWA case regarding wrongful dismissal brought forward by an offshore worker against an Australian employer being heard at all is unprecedented and presents a potential issue regarding how those employees may be compensated according to Australian Law. Source: https://www.facebook.com/share/p/1EmGMpEw4w/Question: Question for Rachael: Given one of her business is about helping employers directly hire OS workers (rather than through a BPO), has the case been misunderstood? ------------------------------------------------------ (2) Customer verification / KYC Dien had a recent conversation with a broker who placed (and settled) a personal loan with lender (a) and home loan with lender (b). The issue is that supporting docs provided have been found to be fraudulent. The broker is now being audited and may lose his accreditation. Source: https://www.facebook.com/groups/financeandcoffee/?multi_permalinks=2786587634881530¬if_id=1733693811480950¬if_t=feedback_reaction_generic&ref=notif Question: How much supporting docs do you collect? or should you collect? Do you call the employer as well? ------------------------------------------------------ (3) RBA Holds .... again Source: https://www.abc.net.au/.../rba-boss-opens-door.../104710274 Question: Previous indicators are rates wont move till mid to late next year. So why even suggest it may move in Feb? Also do you send content about RBA movements to your clients? Does it work for you?

I recently had the opportunity to sit down with Wendy Brown, Head of Broker Sales at Macquarie Bank, at their new headquarters in Sydney. In this candid conversation, Wendy covers: A Look Back at 2024: Reflecting on the key trends and challenges of the broker industry over the past year. Macquarie's Commitment to Brokers: How Macquarie continues to support brokers and their stance on the importance of the broker industry. The real reason for Macquarie's change-up to credit reports: not all is as it seems! What's Coming in 2025: Exciting investment in digital innovations to make the broker and customer experience even better. Grab a cuppa and listen to the full interview.

Todays hosts are Sadish VisvalingamSadish Visvalingam and stepping in for Beth Comino, is the lovely Chelsea Deacon. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers. In the hotseat this week we have Paul Ballinger, Director at Real Estate Home Loans in Ballarat VIC. Paul has been in the game for 24 years. So it's easy to assume he has seen plenty of things. ------------------------------------------------------ Topics this week: (1) How important is your Brand? Can someone take it? Source: https://www.smh.com.au/.../why-paul-spent-two-years... Question: What should businesses do to protect themselves from others who will try to take their brand? ------------------------------------------------------ (2) Broker Market Share at 74.6% Source: https://www.linkedin.com/.../mortgage-finance.../... Question: Why has it continue to increase given all the head winds? Will we see a drop in 2025? ------------------------------------------------------ (3) CBA introduces 15 year IO loans Source: https://www.brokerdaily.au/.../19741-what-cba-s-interest... Question: Is this a good thing? Will it put more fuel on the price of property? Will other lenders follow?

News and views relating to the F&C Community and the wider broker industry. This week, while Sadish Visvalingam is away, Dien Le stepped in to Co Host with ⁠Beth Comino⁠. Our Guests this week are ⁠Paul Wright⁠ and ⁠Ali Dunphy-Foden⁠. In addition to chatting about the news, The topic for discussion this week was based on an Anon Post asking members "when is it the right time to hire staff?" - in this case, it would be hiring their first employee. In the NEWS: *The FED cuts rates by 0.25 percentage points on Thursday (US time). The Aussie Dollar dropped and of course TRUMP wins the election. So what does that have to do with Australia?

News and views relating to the F&C Community and the wider broker industry. This week, Beth Comino⁠ goes solo on a different style of the usual weekly wrap. In the news this week: it is a new month so rate movement will be a topic of discussion again. Whilst the RBA has yet to make any announcements, lenders have begun to drop their own rates. This week, Macquarie Bank dropped Fixed Rates to 5.39% p.a. for owner occupied P&I 2-year fixed term at ≤70% LVR. We ask our guests what they thought about this and if they think others will follow. In this episode, we are joined by Kerri Buurman from WA and Tracy Trang Le from VIC. Its not often we have an all women panel to discuss things finance and of course being a business owner. Each of these ladies run very successful brokerages. So we asked them advice on what they would give others about: *Being an Owner of a business *Growing a business *If they would do anything differently.

News and views relating to the F&C Community and the wider broker industry. Hosted by Sadish Visvalingam and Beth CominoThis week we have Rob Flynn in WA, Malcolm Withers in NSW on as guests. TOPICS THIS WEEK: (1)LMG Announces Tech Fee Increases Does it seem fair? but lets be realistic, F&C hosts our website on Amazon Web Services and the fees have increased over 23% in last year alone.  Best to contact your LMG BD Team rather than speculate. (2)Cashback Offers are back - for existing clients only Complaints from brokers will grow due to lots of hard work by brokers only to be undone by lenders who should have backed brokers on the first try with repricing.  (3)REA Group buys 19.9% of Athena The giant in terms of online property listings. Already owns 2 aggregators (Smartline and Mortgage Choice). Add to that REA branded brokers. And now they have their own product to distribute. And of course we ask both Rob and Malcolm “what advice he would give to a broker who has just completed their second year in business”

News and views relating to the F&C Community and the wider broker industry. Hosted by Sadish Visvalingam and Beth Comino This week we have Michael Russell (MD MoneyQuest Group) on as guest. TOPICS: (1) Right to disconnect A "right to disconnect" rule has come into effect in Australia, offering relief to people who feel forced to take calls or read messages from employers after they finish their day's work. Discuss: How will this affect a broker's business? Source article: click here (2) NAB Announces new Commission changes Effective from 1st September 2024, NAB has introduced a stepped clawback commission rate for new residential loans, easing the burden on brokers when clients refinance. Discuss: Is this really a win for brokers?  Source article: click here (3) US Fed cut rates by 50bps. Will the RBA follow? A few things to consider.: We also see some lenders with sharp fixed rate drops (e.g Macquarie 5.59% 2 yr Fixed). However - the unemployment rate is still low (their target is 5%. Currently 4.2% in July) and inflation is still too high (currently tracking around 3.8% Year in Year). Discuss: will the RBA follow next month? Australia is the only Western Country not to drop rates. Source article: click here (3) US Fed as moved rates: what does this mean for RBA? And of course we ask Michael “what advice he would give to a broker who has just completed their send year in business”

Todays hosts are Sadish Visvalingam and stepping in for Beth Comino is the lovely Chelsea Deacon. As always we will chat about the happenings in the group and news in the wider industry that may be interesting to brokers. In the hotseat this week we have Blake Buchanan (GM at Specialist Finance Group). We ask Blake what advice he give to someone who has a brokerage that is 2 years old. How will they future proof their business. Topics this past week: (1) The recent e-petition published in the Advisor.https://www.theadviser.com.au/.../46124-broker-lodges... (2) Uber won their case with Rev NSW: How does this outcome affect what is happening in our own industry?:https://www.kwm.com/.../ubers-victory-in-court-puts... (3) Compared to 8 years ago, there number of One Person Brokerages have decreased by 30%. Will this fall further?

News and Opinions on the happenings in the F&C Community and the wider industry. Hosted by ⁠Sadish Visvalingam⁠ and ⁠Beth Comino⁠ This week we have two guests Chris Slater from Zettle and Rachael Bland from Get Smart Financial Services. We ask them what they would advise someone who has a Brokerage that is 2 years old in today's market. Todays topics: *Diversification into non consumer lending - W/C, A/F etc etc and brokers need to look into it. Clients are stickier, and the banks know this. Are you on the diversification train yet? *ING to be 6th by end of 2024 - commentary that will be well received. A stark contrast to the majors negativity towards brokers. *Macquarie the BIG 5 -> Boringly consistent - Consistently Good! Macquarie grew its home loan business five times faster than its major bank rivals in July, And they dont compete on price!

News and Opinions on the happenings in the F&C Community and the wider industry. Hosted by Sadish Visvalingam and Beth CominoTopics:1: CBA CEO calling for cap on broker commissions2: Bendigo & Adelaide Bank Announce approvals sub 6 mins3: Bank TD rates are moving down - what does this mean?4: Spring Buying Season - busy period is about to start for brokers Guest: Steve Matsoukas -Founder of Loan GalleryIf you have been in Metricon showroom, there is a good chance you would have seen "Loan Gallery's" Logo in them. We ask Steve what he would tell a broker in their 2 year old business given he has been around since 2002.

This week, the lovely Victoria Coster stands in place of Beth as Co-host with Sadish to chat about the happenings in the F&C Community and some interesting topics in the wider industry that may affect Finance Brokers in Australia. Today's Topics: BoQ to cut jobs; Changes to broker reference checking and Did you know F&C has an awards night? Our Guest this week is: Rhianna Farnan from Derwent Finance. We ask her "What would she do today if she owned a broker business that is 2 years old? Side note: did you know that Rhianna has multiple Tik Tok videos which have smashed the 1.5m mark? So grab a cuppa and have a listen.

Our hosts Beth and Sadish chat about the happenings in the F&C Community and some interesting topics in the wider industry that may affect Finance Brokers in Australia. Today's guest is Joanna James - Chief Development Officer from the Finance Brokers Association of Australia (FBAA). We ask Joanna what she would do if she were to own a Brokerage that is 2 years old today ... given her history in the industry, there are some amazing tips. So grab a cuppa and have a listen.

Each week, we drop a video inside the group where you get to learn something new about a product or service out there that may be of benefit for you or your clients. We make it fun by incorporating these sessions in a monthly quiz where you can win $1000 gift voucher from us? - All you got to do is take part in a monthly Quiz and get the highest score. Which means you can do it as many times as you like. This episode deals with outsourcing your back office. With the high court case in NSW regarding payroll tax in the headlines, it's probably a great idea to check whats out there. New kid on the block - REMOTE BROKER SOLUTIONS - chats with us in this episode. Whilst new, David Browne has been in the industry as a broker for many years. So to say he knows your pain points is not an exaggeration. So grab a cuppa and have a listen

In our conversation with Steve Matsoukas, a Legend in the Finance Industry, we delve into his remarkable journey. After running a successful food business alongside his brother for 16 years, Steve decided that the cold working environment was enough, so he decided to transitioned into the broker industry. His initial foray in 2002 with Aussie as a salaried broker laid the foundation, but it was after venturing out independently post his entrepreneurial success that he truly made his mark. Steve's narrative stands out not just for the strategic processes he implemented to expand his team, leveraging technology significantly, but also for his strategic alliances with major players in the construction industry. Navigating the complexities of construction loans, which inherently pose challenges with extended settlement lead times compared to typical refinances or purchases, Steve's expertise shines. In the current business landscape marked by firms facing adversity, we inquired about Steve's concerns and his outlook on the future. Tune in to discover his insights and perspectives on these pressing matters.

In this podcast, I interview Ronald Pringle and Arun Gupta from Gateway Bank about their Green Pocket and Planet initiative and their commercial lending offering. Gateway Bank was the one of the first to offer a green home loan program in Australia, which rewards customers for investing in environmentally friendly, energy efficient housing. With the cost of utilities across the country jumping by 30% in recent months, a green home loan could save customers a significant amount of money on their running costs. Gateway Bank also offers a green loan program for commercial properties, helping businesses to finance the purchase or renovation of commercial properties with a loan that rewards them for their environmental commitment. If you are new to commercial lending, Ronald Pringle and Gateway Bank can help you through the process. We often think that commercial lending is different in that it is difficult, so why not chat to a bank that will guide you through the process rather than ask you to take a back seat?  

In this episode of the podcast, Peter White from the FBAA discusses the organization's recent milestones, including their 30th anniversary and reaching over 11,000 members. They also discuss the CBA's recent change in clawback policy and whether other lenders will follow suit. Finally, they talk about the FBAA's involvement in International Broker Forum, which will be held in Las Vegas for the first time this year. Lets also not forget their own annual National Conference on the GC at the end of the year! Hope to see you there! Here are some of the key points from the podcast: The FBAA is celebrating its 30th anniversary. The organization has grown significantly in recent years, reaching 11,000 members. The CBA recently changed its clawback policy, which could have implications for brokers. The first International Broker Forum in Las Vegas this year. The FBAA's national conference will be held in November.

In this episode, we sat down with Abraham Mathew from Suncorp Bank to discuss their image turnaround with F&C Members. In the past, Suncorp Bank had a reputation for slow turnaround times. This lead to frustrations and a few memes on here. However, that has changed recently. Thanks to their new Suncorp Bank Sunlight offering, applications are now processed "at lightning speed" - if they fit the mould. Quick turnaround times make brokers look great in the eyes of their clients, and it has also helped Suncorp Bank to attract new business and fans on F&C. In addition to their fast turnaround times, Suncorp Bank has also implemented an Instant Pricing Tool and a new digital verification of identity process called SunVerify. This process ensures that your clients can verify their identity super fast. Key Points: Suncorp Bank has a new Suncorp Bank Sunlight offering that makes applications process much faster. Suncorp Bank has also implemented a new digital identification tool called SunVerify, ensuring a smooth verification process. Suncorp Bank's new Instant Pricing Tool is the fastest way to find the best discretionary price for personal new lending – in matter of seconds. Speak to your Suncorp BDM to make sure its the business they want (Payg and Simple SE) to ensure a timely turnaround time for assessment. Have you jumped on the Suncorp train yet?

In today's episode, we had the privilege of sitting down with the CEO of the Mortgage & Finance Association of Australia (MFAA), Anja Pannek. With her unique insights, Anja shared her observations on the industry and the association since taking the seat as CEO nine months ago. We began by discussing the transformative power of Anja's role as CEO and the valuable observations she has made within the industry. From emerging trends to shifting dynamics, Anja provided a captivating overview of the ever-evolving landscape that brokers navigate daily. Moving forward, we delved into the key challenges faced by brokers in the current climate and the proactive measures undertaken by the MFAA. Anja shed light on the association's relentless commitment to addressing these challenges head-on, ensuring that brokers are equipped with the necessary tools, resources, and support to thrive in their profession. One notable aspect of the MFAA's work is its active engagement with the government. Anja provided a comprehensive update on the pressing issues the association is tackling in collaboration with policymakers. By fostering strong relationships and advocating for the interests of brokers, the MFAA plays a pivotal role in shaping policies that impact the industry as a whole. To conclude the conversation, Anja shared her insights on the top three priorities brokers should focus on at present. Her expertise and strategic vision highlighted the critical areas where brokers can maximize their effectiveness and capitalize on emerging opportunities, ensuring their continued success in a dynamic and competitive market. Prepare to be inspired and gain a wealth of knowledge as we delve into the fascinating world of mortgage and finance with the remarkable Anja Pannek, CEO of the MFAA. Let's dive into this captivating conversation and uncover the invaluable wisdom she imparts.

In this interview, we catch up with Mandeep Sodhi, CEO of Effi, to learn about their recent developments since our last conversation 12 months ago. During this time, Effi has achieved SOC 2 certification, which means that more aggregators should, in theory, accept them as part of their ecosystem for brokers to utilize. SOC 2 places greater emphasis on how security principles are implemented to address relevant risks, particularly in relation to the services provided to customers. We also delve into the fascinating topic of chat GPT and its potential to assist brokers. Mandeep, however, is quick to raise the issue of caution when interacting with such technology. After all, feeding it data raises concerns about data security. It is crucial to ensure that your data is protected. Amidst these discussions, we explore the functions of Effi and the partners integrated into their ecosystems. These partnerships not only help brokers promote their own brand but also enhance lead conversion through Effi's Lead Management platform and a range of other tools designed to streamline the process.

In this interview, we speak with Anny Le Wilson, the Chief Revenue Officer of Joust, to discuss the topic of digital leads. We begin the conversation by exploring what Joust has brought to the market over the past two years. Unfortunately, their offerings were often misunderstood by the market, with the focus primarily on their cheapest option rather than their superior "exclusive Leads" product which was more expensive. The adage "you get what you paid for" comes to mind here. The cheaper product will be phased out, as they recognised that it not only received unfavorable reviews from brokers but also provided a subpar customer journey for the individuals themselves. This isnt uniquely a Joust thing, many brokers often attempt to purchase or acquire leads at the lowest possible cost, sometimes even resorting to overseas lead generation businesses that lack representatives in Australia. However, they frequently express dissatisfaction when these leads turn out to be unresponsive. Lead generation businesses, in general, tend to have a poor reputation. But is the issue truly with the quality of the leads, or is it simply because brokers are not prepared to make immediate contact with the customers on the other end? By the time brokers eventually reach out to the leads, several hours may have passed, increasing the likelihood of dismissing a potentially valuable lead as insignificant. As they grandfather one product they will be introducing a new one - leads that undergo a "warmed" handover, which, in theory, should significantly enhance the conversion rates compared to conventional methods prevalent in the market. Rather than simply sending an email or a list of leads to the broker, this new approach aims to establish a closer connection with the leads, thereby increasing the likelihood of successful conversions. To find out more, click https://www.joust.com.au/partnership-opportunity.

In our recent podcast episode, we had the pleasure of speaking with Ryan Gair, the CEO of Rate Money, about the market performance in the first half of the year. Despite facing some significant challenges, Rate Money has not only managed to weather the storm but also expand its franchise operations. Which highlights that there are opportunities if you look at it. Not only is the Fixed Rates producing opportunities for brokers in terms of refinancing business, but the changing landscape of how the Australian Taxation Office (ATO) is now stepping up its efforts to pursue tax debt has also opened the doors for more potential business. This development presents a unique opportunity for brokers, as it opens up a different customer potential and market. Ryan encouraged brokers to set themselves apart from the competition, particularly those who primarily focus on residential lending. The discussion sheds light on the dynamic nature of the market and the importance of adaptability. Ryan's insights and challenges to brokers underscored the need for innovation and differentiation in order to thrive in the ever-evolving lending landscape.

In case you didnt know, the 2021 Tokyo Olympics are on. So it is timely we speak to someone who has been there and done that. They train very hard to be at the top of their chosen sport to represent their country at the ultimate sporting event. The level of discipline and determination is quiet frankly out of this world. Do these skills translate well after their days as an Olympian have past? This week we speak to Guy Callaghan about his story. Guy represented New Zealand in the sport of Swimming for many years in the 1990s. He was part of their Olympic team to 1992 team to Barcelona and achieved Gold at the FINA SC World Champs in 1995. Everything was pointing to another place in the next Olympic games when the unthinkable happened, he failed to qualify! This was the beginning of his journey out of the pool (and New Zealand) and into another world that would eventually see him as Head of an exciting new SME Fintech in Australia called Banjo.

In this Podcast we chat to Victoria Coster (CEO Credit Fix Solutions) about what trends she has seen, given lockdown meant a lot of people have lost their jobs/unable to work. All of this affected their debt repayment obligations and hence their credit reports. However before we get into that, we start the conversation talking as working parents and about the complexities of WFH. Dealing with children, their mental health and of course screen time whilst running a business. The mental toughness to deal with those things in the "covid normal" times that we find ourselves in has pushed some people to the edge. Yet Victoria's business relies on speaking to customers who have life events that push their credit reports into less than ideal areas where lending assessments are concerned. So you would think that the strength to continue to take the next case and listen to sad stories day in and day out can have a drain on you. How does Victoria and her team do it?

The word "innovation" is thrown about in media releases by a multitude of businesses including banks. But just how much innovation have you really seen? Since Gateway Bank was founded in 1955 with just one employee and a briefcase, they've always been pushing themselves to do business in the right way by being innovative. Today, we've got Zeb Drummond and Arun Gupta from Gateway to clue us in on a range of innovations at Gateway and their accelerated commitment to their customer's pockets and the planet. Monthly LMI First up is the monthly Lenders Mortgage Insurance (LMI) launched in collaboration with Genworth that has turned the whole home purchasing experience on its head. Eco visa debit card Traditional debit/credit cards are made from PVC which is petroleum based. Gateway's Visa Eco Debit Card, on the other hand, is made from plants and kind to the planet. Green Home loan Package Gateway also developed two new green home loans with a competitive home loan rate to help you do your bit for the environment. Both loans are Premium package loans with an annual fee, all features of premium products including 100% offset functionality They're currently only available to 80% LVR for owner-occupied purposes and offer a variable interest rate. They do also have the ability to be used for construction purposes, as long as it meets the environmental criteria for each loan. “We want to do well from a planet perspective. The intention and the view here is a home loan rate with a discount to it as an incentive to help people on their way to be more environmentally-friendly and eco-conscious” – said Zeb

It's not often we have someone so senior in a multinational Bank give a candid story about their journey in Finance. In this Podcast, we speak to Glenn Gibson (Acting Head of Retail Bank at ING Australia). We find out how he almost didn't have a career in Banking at all because he wanted to go on a school holiday over the Summer with his parents before he started work when he finished high school. He didnt want to work straight away! Starting out as a Batch Clerk for the NAB and then rising through the ranks quickly (because he "was an ambitious little shit"), it wouldn't surprise many to see why he was so successful. We also chat about his journey into the 3rd Party space and how he came to Head INGs Broker Division. No chat is complete without his thoughts on what he believes ING has done right by brokers where other lenders have failed - Turn around times. It seems so simple yet many lenders don't get it right. It was actually one of the first things he did when he first come there. How does he stay so well connected to brokers? It just so happens that his wife has run a broker franchise for many years. One of his daughters has also started her own brokerage after spending time working in her mum's business. They definitely help him keep his ears to the ground about what the industry is concerned about. Unfortunately his other daughter, who doesn't work in finance, must be bored out of her mind during family get-togethers! A Senior execs who posts on Social Media with a personal touch? you wont find many around. Usually their accounts are run by the Bank marketing department and the posts are very "company line" devoid of any personality. Not so with Glenn. - "Because It's Friday" posts are fantastic on LinkedIn. If you are looking for some really great tips on where to go to eat or drink, definitely follow him and watch out for his post. As he does ALOT of traveling around Australia, Glenn is in a unique position to find some great spots for your next social or business meetup. https://www.linkedin.com/in/glenn-gibson/

Its not often we have come across someone who was a former credit analyst (assessor) who took a leap of faith to the broker side. In this Podcast, we chat with Joel Dieu about what prompted his move from SA to VIC - it was for love. Why he eventually came to realise that his career needed a little reset after working for some of the biggest lenders in Asset Finance. His move to become a Broker. His overwhelming deep aspiration to be more involved with helping customers; the enjoyment of the whole process: the sheer amount of labour it takes to get to finalisation of a loan application. Joel believes there's a happy middle ground where you have the freedom to work in your own time and on your own terms but also try not to get caught up in your own vision and ego. Get your ears around this fascinating podcast episode for some practical wisdom from Joel. Check out his work over here: https://www.dreamcatcherfinance.com/about-us

17 years ago Anita Marshall, started her mortgage broking business as a one woman show in her spare bedroom to try and make a better life for her son as a single mum. She was told by an uncle (who was a broker himself at the time) that she was crazy and not to do it. However she was determined and it turned out to be the best decision she ever made. Starting out in the travel industry and then for a credit union and struggling to make ends meet. The broking industry appealed to her as it was one where she could work around looking after a small child. Being there for school pickups/drop offs and much more was something she would not have been able to do in a 9-5 role. Whilst her business has changed a lot over the years. She now has an office and small team in NSW whilst she lives in QLD. Technology has allowed her to continue without much interruption. She now no longer has to take regular trips from the Gold Coast and back for business! . You can tell from her voice that she still loves the crazy industry - "It's the toughest I've ever known right now to get loans approved with the paperwork red tape nightmare but I'm confident it will get easier again". She worked her ass off to make it happen ( and still does ). But most importantly she finds time to provide advice and guidance to strangers she has not met before.

A little chat with Luke Phan, Bluestone's Head of Product. Here at Finance and Coffee we love chatting to folks about their job and it's not very often that we get to sit down with a Head of Product. It's a pretty cool job title but it's one Luke Phan gets to live out everyday. Luke's interest in finance started at a young age when he was helping his parents to run their family business. He was hooked and became passionate about helping people achieve their financial goals. In this episode, Luke talks us through his path from his first graduate role to working in product management for the last 15 years. These days, Luke spends his time experimenting with product design, doing broad research and looking at alternative solutions to help customers faster than a bank can. Curious about the scope of products they have at Bluestone and future projects? Have a listen to the full story and keep up to date with our future podcasts by subscribing through Spotify or Anchor.

In this episode, we picked the brains of James Angus, Chief Customer Officer from Bluestone, finding inspiration around the success of this fast-growing lender, just for you. James offers us an inside look at the changes made and the principle in which Bluestone sets their values around to do things that a lender like them has not done before. That brings us to over 30 policy changes in the past year that make the entire community sit up and take notice. They ticked those off and even built a full suite solution for Australia's leading aggregator Connective to give their brokers a competitive advantage. Bluestone doesn't get bogged down when the pandemic comes along – they pulled up their socks and just got on with doing the simple things well to help brokers and their customers. Tune into this episode for the full lowdown.

Growing up on the family farm (in which his brother now runs) to working for the largest bank in the world (at the time), to running his own Mortgage Management Company. This is one human's journey into finance that you definately want to listen to. In this Podcast, Dien speaks to Murray Cowan about the ups and downs of the industry he has been in for over 30 years. Starting a Mortgage Management Business when it was sexy to do so, to surviving the GFC and now Thriving! But, by no means was it an easy gig, and the mentality to sell the services of a mortgage manager to everyday brokers is definitely different from a BDM working in a Bank. How did he do it? What does it that for his sales team to also do? and most importantly, why should a mortgage broker consider using a mortgage manager in the first place?

Venturing out on your own is super-scary for many people, but it's a decision that's paid off for Czech-born back office solution expert Petra Novakova. We're chuffed to have Petra in the hot seat to tell us how she built her kick-ass business Koruna Assist from the ground up. Long story short, Petra came from the Czech Republic and has spent her life living in England, Asia and Australia. Having started off working in offices for several finance institutions, Petra felt something was missing, deep down, she knew she wanted to do more. Petra decided to believe in her own ability and take a leap of faith. She now spends her days looking after her team of offshore virtual assistants and helping business owners outsource and free up 20-30 hours a week. So if you're ready to down some inspiration in one gulp, tune in to find out more about Petra Novakava and her amazing life story.

How often does someone on the Credit/Risk side make the move to Sales? The mentality is totally different. Whilst one waits to have a file passed to them to check if all things meet the requirements so as not to "harm" the lender they work for, the other is constantly out there hunting for new business, facing not only rejection but the pressure of sales targets. Dealing with credit and customers at the same time. In this Podcast, Dien speaks to Marco Symons about his accidental journey into finance. First as a credit analyst, then his move into sales. How his Father played an influential part in his mental toughness and business savvy. We chat about his journey from Employed to Self Employed. Often times Finance Brokers entering industry start out in residential lending before they dabble in the commercial space, not so for Marco Symons who has taken the leap by doing the opposite. Have a listen to the podcast and find out why this was the case.

Where did bankers used to do their own banking? why it was with Gateway Bank! In this Podcast, Dien speaks to Arun Gupter (Manager Third Party Sales) and Zeb Drummond (Head of Customer Operations) about the Bank that has a Big Heart! Founded in 1955, Gateway Bank is now one of Australia's leading customer-owned banks. As a mutual bank they put their members/customers first. Profits are reinvested to benefit their members rather than shareholder return. Gateway Bank have a long track record in the broker channel, entering in 2009 and are grateful for the support they have received from brokers over the past 12 years. Gateway Bank have built a broad and loyal broker following, thanks to their competitive rates and of course their people – who provide their broker network with a reliable, proactive, and bespoke one-on-one service. Given SLAs (Lender turnaround times) are a hot topic right now, we discuss what brokers should expect when they deal with Gateway Bank. In addition, we discuss how their team members assess applications on an individual basis, carefully considering each one, rather than relying on credit scores, to ensure they reach a mutually beneficial outcome for everyone. There is no such thing as an "auto decline" which can leave a broker frustrated in some circumstances. Another topic which is pretty hot at the moment is the Government's First Home Loan Deposit Scheme. Gateway Bank has allocations and have had great success in helping brokers and their first home buying clients access the Scheme and buy their first home. Family Guarantees can also be used for investment purchases as Gateway Bank understands that First Home Buyers may use this method as a stepping stone to get into the property market. Gateway Bank understand and respect the sanctity of the relationship between brokers and their clients and are always mindful of this when designing their market-leading, competitive products, or interacting with broker-introduced members. Brokers will never find themselves losing out on a better rate, because they always offer the same deals to their direct customers as they do for their broker channel. Of course, they'll always refer broker clients back to brokers for top-ups and other enquiries so that a Broker can maintain the integrity of their relationships.

In this episode, Dien chats with Aaron Milburn - General Manager Mortgages and Commercial Lending for Pepper Money. He is a massive fan of the broking industry and genuinely believes brokers are the people who can get their customers in the best possible place financially in life. Throughout his 18 years in finance services, Aaron has always been seeking every opportunity to learn and combine his passion for helping others with his professional career. His journey into finance begins with one suitcase as he sets off for his Overseas Experience (OE), uprooting his entire life moving from New Zealand to a small country town of Leicestershire in the UK. Aaron laid out with us his entire career, how he has worked his way up in the finance industry and how he later stepped into the broker side. His work connects him to a community of people who rise to their challenge. It allows him to ultimately help solve their problem and give them a second chance in life. Tune in for his wonderful learning journey!

In this podcast episode, Dien had a fun chat with Ryan Gair, the brilliant mind behind Rate Money – Australia's leading financial service provider for the self-employed. Ryan has been in the finance industry for 18 years. On day one, he got out there cold-calling and door-knocking to drive the business. His resilience and willingness to learn led him to where he is today with the success of Rate Money. In this uncertain climate, many of us realised that the reality we have invested so heavily in can be changed at any time. Especially, the self-employed might find themselves in quite a pickle with unmet plans and aspirations. Not one to roll over and accept the situation, Ryan saw this as a great opportunity to provide new products with greater policy and flexible service to help his self-employed clients go that extra mile. For more on this episode and to join our largest community of brokers online head to https://www.facebook.com/groups/financeandcoffee The email address for any enquiries is enquiries@ratemoney.com.au.

Salestrekker is the name of a CRM platform that all smaller aggregators who don't have their own proprietary software use. A few brokers and large brokerages who are with larger aggregators also use Salestrekker in addition to their aggregator software.  Why is this the case? Ease of use and intuitive UX could be key. But who is behind Salestrekker? and what is the story behind why it came to exist?  In this episode, Dien talks to Dalibor Ivkovic about his journey from refugee to a Powerhouse in the 3rd Party Broker space in Australia. Dalibor Ivkovic came to Australia as a refugee during the 1990s as a result of the unrest due to the War in the former Yugoslavia.  He, his mother and sister settling in Tasmania because he had an Uncle who lived there.  Having to overcome his struggle with a new language, he graduated university as an engineer and ended up in the Brewing Industry for 12 years! His career with Carlton Breweries (in VIC) lead him to Brisbane. And it is here that he started an unsuccessful Web Development Business which luckily lead to him accidently falling into the finance broker industry.  By pure chance, a mortgage broker friend, John Paynter needed a new website built. This lead to John (and his assistant) receiving more leads than they were able handle.  So Dalibor looked at the mortgage broker process to see how he could save time for John (and other brokers) by looking at where the inefficiencies were.  Not long after that Xsource (a Processing Business for Brokers) was born. Being the Engineer that he was, Dalibor developed systems and processes before he started to build a customer base.  All business was via word of mouth and today Xsource employs 80 staff to assist brokers from all over Australia. A hurdle he found early on was to track a status of a deal in-flight, both for the processor and the broker. There was nothing on the market at the time - they went through a few off the shelf platforms before building their own Platform - Salestrekker.  Initially Dalibor was going to leave it to  his mom to run whilst he concentrated on the main business - loan processing. Then one day, whilst attending a Connective PD Day, a speaker on the topic of Future of open banking sparked the idea that Salestrekker had the ability (and now the opportunity) to become something big.  Luck was again on his side because a commonly used CRM at the time, Symmetry, as sold and then on-sold to larger businesses that didnt take an interest in the small sample size  of mortgage brokers in Australia. As a result not much effort as put in place to keep it relevant to the Aggregators who used it as their CRM. Enter Salestrekker and the rest is history. One of the things that made Salestrekker so successful was because Dalibor was always looking for what that next bottleneck for a brokers will be in the future. Programmes that saw early adoption and integration by Salestrekker were things that would massively cut down on time on a file.  Applications such as  " e-sig, video conferencing and recording, bankstatements.com.au etc integrated for brokers to use. The Pandemic brought most of this applications to the forefront, especially video conferencing. Another matter in 2021 that will be critical will be Best Interest Duty (BID). As of 1 January 2021, BID is in play where Broker are to Act in the best interest of their client. Otherwise they would find themselves on the wrong end of the court system. Dalibor strongly believes that Tech will play an important role in helping brokers be able to successfully navigate BID. Those who dont pick it (tech) up will struggle to operate without their CRM or other tech solutions to prove their conversations with their clients. Are your processes and systems ready? Is there more education that is needed?  Are you BID Ready?

In this podcast, Dien Le and James Angus (Bluestone's Chief Customer Officer) have a candid chat about what the non-bank lender is doing to win broker trust by treating them with respect and installing the belief that when they put business via Bluestone, they are given the respect that they deserve by having quick service with great BDM support. Building on that winning formula is also a game plan to take Bluestone to another level in 2021 by implementing new platforms that will allow new product offerings as well as technology capabilities to grow market share. In the last few weeks, Finance and Coffee conducted a series of surveys inside the group. We asked questions around what brokers would like to see from non-bank lenders in order to use them more. The questions were things such as "what was valued more" from lenders such as SLAs, Rates / Cashback offerings, and BDM responsiveness. We also asked the same question about what they valued from the major banks. The results were surprising and we discussed them in this podcast. As this podcast goes to air, broker market share has also officially hit more than 60%. This is despite 2020 being one of the toughest lending landscapes since the GFC. With the onset of COVID-19, we saw SLAs blow outs with some lenders to over 30 days, on top of record low interest rates and cashback offers across the board causing much mental stress on most brokers. This segways into an interesting conversation about broker segmentation. Why lenders do it and James' experience in implementing it and why it does not work. Especially for non-bank lenders where the philosophy is to "earn the right to do business" with brokers by building better relationships and training.

In this Podcast, Dien Le and James Angus (Bluestone Mortgages Chief Customer Officer) have a candid chat about the anniversary of Bluestone's launch of their Prime Product. More often than not, Brokers do not associate Prime Lending with Bluestone. Topics discussed are: How has it been received, what challenges have they had and most importantly, what it means to have Prime offering and the Pillars Bluestone have in place to support it. Not just a rate, but an experience - People First Culture Commitment to turnaround time of less than 2 days Hold / Wait times on the phone is no where near what can be deemed unprofessional Internal staff levels to meet expectations of a broker. Working with credit underwriters that will talk to you. Also discussed are who will win the Melbourne Cup, what the RBA may do with rates and how the economy is going. Are the media focusing on the wrong stats?

-News for the week that was in Finance- Covid News -Great news for VIC -NSW not so much -Covid Supplement to extend well into 2021? ATO $120m clawed back Jobkeeper Payments from ineligible clients ABS data on consumer prices Inflation has increased 1.6% Carbon Neutral Targets Coal and natural gas purchases in Australia in danger as overseas governments adopt this stance. ANZ has also announced a carbon neutral plan No assistance to finance coal and thermal plants No longer providing services to businesses whose rev (10%) is made up of coal / thermal. ANZ policy also applies to the construction of large scale office buildings - where loans will only be provided if they had a 5 star energy rating. Wine exports has increased by 4% - despite all the rumours Banking news ANZ - $500m cash profit hit NAB - Staff underpaid hits profits ABL - Board of ABL takes a paycut And more!

News for the week that was in Finance. Topics: ABS release of data on how the market is performing: Retail Trading - Slipped Backwards 1.5% *However, figures are better than Sept 2019 ->Online Spending? AustPost: expect $4 billion to be spent from now till Xmas - 25% increase in Online Shopping WISR Result for first QTR of 2021 - Record 47% spike in lending Is this a sign of debt consolidation or spending? Payroll figures for people employed under 20 years of age has risen 6.1% since mid march *This was before the Fed Budget JobMaker scheme was announced. *Unfortunately, every other age bracket was in decline *Younger Staff = Cheaper wages? Fed Budget tax cuts have passed Parliament. CBA: Cut 5 bps off savings account What will the pensioners do whom rely on interest earnt on savings accounts as a means of income? CBA also beefing up the Business Banking team *1 day approval *Biz Express (loans approved inside 12 minutes) will be the new platform that they will use. Afterpay teaming up Westpac - Providing savings account *Westpac then sold 10% stake in ZipCo (direct competitor to Afterpay) the next day. Listen to this and more!

News for the week that was in Finance. Topics: *NZ Election and the Trans-Tasman Travel bubble. *RBA - and the likelihood of a rate cut before Christmas *Bluestone's move to go to 90% lend in Metro Melbourne and Sydney with No LMI / Risk Fee and a fantastic rate. *Property prices and Auction Clearance rates. and more!

Imagine going to another country where you don't have any safety net - no parents - so social security.....and after starting a role for just 2 weeks, being ballsy enough to say to the boss you can do the sales role on commission only income... because you can do it better than the sales guys... and smashing it! The Level of self belief and determination would be hard to comprehend. Ephram did just that when he started out in a small recruitment business all those years ago. Later settling up his own one in Sydney. The little firm that specialised in the recruitment in the construction sector eventually had offices in Brisbane, Melbourne, Perth and London. The next chapter sees him restart another Agency... this time in Finance and collaboration with the Dien and the team behind Finance & Coffee.

In this Podcast, Dien Le and James Angus (Bluestone Mortgages Chief Customer Officer) had a candid chat about the Federal Budget, the easing of Responsible Lending and how that may have an impact on broker business. Also discussed was an insightful look into the operations of how Bluestone worked with brokers in the current market, FY20 results, the impact of COVID-19, and Bluestone's roadmap for the next 12 months and beyond. Some exciting products in development and one coming to the market next week like a 90% LVR with NIL RISK /LMI at 3.59% (3.60% comparison rate) being one of them. Full doc, owner occupied purpose only. Metro Melbourne and Sydney postcodes, Brisbane Metro to come at a later date. So listen in and then get in touch with your Bluestone BDM today! **Interest Rates are correct as at 15/10/20 and subject to change at any time. The comparison rate is based on a loan amount of $150,000, over a 25 year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Terms, conditions, fees and charges apply and your full financial situation would need to be reviewed prior to acceptance of any offer or product.

SMEs are the engine room of Australia, we hear this time and time again. SMEs employ around 4.8 million Australians (44 per cent) and are a major GDP contributor (57 percent). Employment growth in small businesses accounted for approximately 60 per cent of total employment growth in the private sector between 2013-2018. The pandemic has had devastating impact on small businesses in Australia, especially in the State of Victoria. However, if and when we are looking at reopening the economy, Australia's “economic engine room” will be a major contributor to bringing Australia out of economic recession. One of the biggest struggles for any SME will be getting the right funding to keep their businesses running and expanding once the economy opens up as well as the Myriad of Government Grants that may be available to them that they may not be aware of. Whilst the new Budget reflects the need for SMEs to get firing again, owners of SMEs often do not know the "what" and the "how" to get about it outside of the traditional BIG4 Lenders. With an explosion of SME FInTech Lenders in the last 4 years, the options are mind blowing, but the question is... where to start? Would it surprise you that the same problem will be faced by other countries as well? In this Podcast, Dien Le speaks to Ciaran Burke - Co Founder and COO of Swoop Funding. The Tech Start-Up based in the UK has found swift and massive success by connecting SMEs to suitable and viable Lending options in addition to any eligible Government Grants that may be available to a specific business. Customers have their own financial dashboard to keep up to date on their financial and liquidity metrics and Swoop then alerts them when they become eligible for new funds. This episode dives into the "how" and the "why" the platform came about. Including the amazing journey that Ciaran and his team took to get it to where it is today. A short stint in Australia earlier in his working life sparked an idea to bring Swoop to Australia as well. Have a listen... and definitely watch this space.

This week's episode is dedicated to the Federal Budget that was delivered earlier this week. Topics of discussion by Dien Le and Michael Tran are: Personal income tax Immediate personal tax relief for individuals Exempting granny flat arrangements from capital gains tax Business owners Extension of the provision allowing small business to instantly write-off asset purchases Temporary loss carry-back to support cash flow Covid-19 response package JobMaker hiring credit Superannuation Superannuation reform

Many in the Third Party Finance Broker space have heard of HashChing, but not many would know about it's visionary Founder - Mandeep Sodhi. Even Less would know about the cheeky story of how he went behind his parents back to prepare for his journey to Australia. Having now exited HashChing and starting a new business called Effi (or short for Efficiency) Technologies, Dien Le interviews Mandeep about his journey from his cheeky start in getting to Australia, to making a seismic impact in the FinTech Space. The chat also focuses on the mindset and determination one needs to successfully raise Capital to get a product from inception to MPV stage, to a powerhouse in the industry. Mandeep's achievements are impressive: selected as one of the top 100 coolest people in Australian tech by Business Insider in October 2016, awarded Young Business Leader by IABCA in 2017, and nominated as Finalist for 2017 Young Business Leader of the Year award by Optus. For his contribution to Australia as a successful migrant, his name was even added to the 79th Bronze Panel of the Welcome Wall in 2018. With those credentials, we are sure Mandeep will make an even greater impact in the way Brokers do business in Australia with Effi.