Premium Broker Blog
 

June 26, 2018

Fact Find - Client Need's Analysis

For the purposes of our Premium Broker's compliance, the VowNet CRM is considered an acceptable and preferred verification that a Fact Find has been completed. It does not need to be signed by the client.

The paper version of the Premiu...

June 25, 2018

Fact Find - Assets

Asset needs to be entered correctly and can be added by clicking on the ADD ASSET Button on the top right hand corner.

 As a general rule every client will have as a minimum:

  • Bank Account

  • Home Contents

  • Super

HINT - Assets should be compl...

June 24, 2018

Fact Find - Liabilities

Liabilities needs to be entered correctly and can be added by clicking on the ADD LIABILITY Button on the top right hand corner.

HINT - Make sure the LINKED ASSET is correctly selected.

If this liability is being REFINANCED, tick the refiance chec...

June 23, 2018

Fact Find - Living Expenses

Premium Brokers need to be very vigilant with regards to LIVING EXPENSES. As a licensee, Premium Broker has some specific policies and tools to assist in assessing client's Living Expenses.

Post Settlement
It is a Premium Broker poli...

June 23, 2018

Using Dropbox

VowNet allows you to automatically download all documents into your Dropbox account. This can be extremely helpful for having a backup and proof of documents you have created.  If you are using BankStatements.com.au it can be an much easier way of download...

June 22, 2018

Using BankStatements.com.au

Premium Broker has subscribed to illion Software's www.BankStatements.com.au.  The software provides a number of benefits to assist:

  • Collection of Bank Statements

  • Both Actual and Transaction Statements

  • Automatic Living Expenses C...

June 22, 2018

Fact Find - Objectives

Premium Brokers compliance requires Brokers to make reasonable enquiries into a clients wants and needs from a loan.  These objectives need to be declared and noted within VowNet on the Objectives. Categories to be noted include

  • Objectives

    ...

June 21, 2018

Fact Find - Exit Plan

Most Lenders required a clear exit plan especially for applicants over 50 years old. As a responsible lenders Premium Brokers must discuss an exit plan with their clients and make notes

HINT - After discussing the exit plan with a client note the pr...

June 20, 2018

Broker Tools - Borrowing Capacity

As a holder of an ACL licence, Premium Broker has to maintain its own capacity to service calculator.

Premium Broker Calculator
Premium Broker has therefore adopted the Servicing Capacity included within VowNet and specifically the Mont...

June 19, 2018

Broker Tools - Funding Worksheet

It is recommended that you fill out VowNet from start to end. If you do the Funding Worksheet should work correctly. However if your are having some problems make sure:

1. Asset/security needs are entered correctly

2. Liability needs to be...

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