Premium Broker Blog

June 13, 2018

Broker Tools - Refinance Analysis

If you are refinancing a loan you must provide the client with a Refinancing Report.  There are a number of fields that need to be entered correctly. However if you are having trouble please make sure the following fields are entered co...

June 11, 2018

Reverse Mortgage

The ASIC Reverse mortgage calculator must be provided to a client prior to completing a Reverse Mortgage Application. Please copy the calculator and proof of delivery within VowNet.

ASIC Calculator – Reverse Mortgage

June 10, 2018

Top-ups Applications

Some clients may make it clear that they do not want to compare other options because they are happy with their current lender and don’t not want to refinance.  If this occurs, you do not need to provide a 3 lender comparison as long as this request...

June 9, 2018

Broker Tools - Advice Comments

It is the role as a responsible lending broker is understand what your clients wants and needs and then recommend the most suitable choice of products you can.  

When you get audited, the auditor will want to see how your r...

June 9, 2018

Broker Tools - Foreseeable Changes

It is the role as a responsible lending broker to understand the clients current and future cashflow. this means you to discuss with your clients if they expect changes in their current situation.  This can include:

When you...

June 8, 2018

Broker Tools - Verifications

How, Where and When did you interview the client. You need to be able to find out this information quickly and easily.  The Verifications Completed section will help you document all these requirements.  

When you get au...

June 7, 2018

Broker Tools - Conflict of Interest

Credit licensees must ensure their customers are not disadvantaged by any conflicts of interest. The easiest way to avoid this happening is by adopting full disclosure.

Examples of Conflict of Interest

  • being related to the applicant


June 6, 2018

All Compliance Document can be created with VowNet.

1. Go to Create Documents (either in Deal View or Broker Tools View)

2. Select the document

 3. Press Create (if success you we see this message)


If the document is not available then you haven’t filled in...

June 5, 2018

Preliminary Assessment

The Preliminary or Written Assessment must be created within 90 days of the credit being completed. However Premium Broker require this document to be created prior to submitting the loan. If the loan is in VowNet it is as simple as creating the d...

June 4, 2018

Statement of Credit Assistance (SOCA)

The Statement of Credit Assistance has replaced the need for 5 documents

1. Credit Proposal

2. Credit Quote

3. Preliminary Assessment

4. Loan Recommendation (Sales Document)
5. Privacy Disclosure (needs to be signed first if a credit ch...

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