The Adviser

Aggregator MoneyQuest Australia has purchased Keylend – a Top 25 Brokerage 2024 with more than 100 brokers – to “further strengthen the group’s position in the broking sector” and assist Keylend brokers with building stronger businesses.
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Money Quest Group acquires brokerage Aggregation and brokerage business Money Quest Group has acquired a large broking business, its sixth acquisition to date.

Non-bank Pepper Money has announced that Andrew Gamble, its head of product for asset finance, has been made the new head of sales for asset finance, effective immediately.

Pepper welcomes new leader for asset finance sales The non-bank has promoted from within to fill the position of head of sales for asset finance.

Donelle Brooks has been announced as the new leader of the Women’s Commercial Finance Forum, replacing founder and CEO Yasmine Shah.

WCFF announces leadership change and new agreement Australia’s largest community for women in commercial finance has flagged major changes.

The majority of borrowers are more likely to remain with their lender if they invest in environmental and social programs, according to the new People & Planet Report 2024

1 in 2 home owners inclined to stay with eco-friendly lenders: Report The majority of borrowers are more likely to remain with their lender if they invest in environmental and social programs, according to new research.

The labour market continues to be tight, keeping the risk of another rate hike high. However, market pundits are conflicted as to what the RBA’s next move will be.

Risk of rate hike high after data points to tight labour market The labour market continues to be tight, keeping the risk of another rate hike high. However, market pundits are conflicted on what the RBA’s next move will be.

The majority of borrowers are more likely to remain with their lender if they invest in environmental and social programs, according to the new People & Planet Report from Agile Market Intelligence Find out more on The Adviser:

301 Moved Permanently

Prime Capital launches Prime Approve for instant online loan approvals

Prime Capital has introduced Prime Approve, a groundbreaking online service providing instant, full loan approvals for busy brokers.

Available for business loans ranging from $250K to $5M, this service is as fast and simple as obtaining an online insurance quote.

Discover how Prime Approve can transform your loan approval process:
https://bit.ly/4clHqLU

Prime Capital launches Prime Approve for instant online loan approvals Prime Capital has just launched Prime Approve, an innovative online service that provides instant, full loan approvals for busy brokers who don’t have time to wait.

***BREAKING NEWS*** Aggregation and brokerage business Money Quest Group has acquired South Australia's largest broking business, Keylend, bringing more than 100 brokers into its midst
Find out more on The Adviser:

301 Moved Permanently

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Check out the new edition of The Adviser for essential insights and strategies to support your clients and grow your business!

Discover how the big four banks are evolving with digital offerings and new tech in our cover story (page 18). Dive into insights on personal loans and debt consolidation, helping brokers support borrowers in managing their finances (pages 24 and 30).

Plus, get key takeaways from our Lead Generation Bootcamp (page 42) and celebrate the winners of the Mortgage Business Awards, supported by Resimac (page 36).

Enjoy the latest edition of The Adviser!
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Analysis of the latest monthly Broker Pulse: Residential Lending survey from Agile Market Intelligence has found that average turnaround times at smaller authorised deposit-taking institutions (ADI) fell from eight days in May 2024 to 5.6 business days in June. Find out more on The Adviser;

Smaller lenders improving broker turnarounds: Broker Pulse The time it takes for smaller banks to reach an initial credit decision on broker loans has continued to improve, according to new figures.

After having hit a record low in September, building commencements are slowly ticking back up again, but brokers are still seeing headwinds for borrowers.

Building commencements rising from the doldrums After having hit a record low in September, building commencements are slowly ticking back up again, but brokers are still seeing headwinds for borrowers.

The People & Planet Report 2024 delves into the evolving role of customer-owned banks in today’s lending market.

Discover how Beyond Bank, P&N Bank and People First Bank, through their community-first approach, are transforming the financial landscape.

Download the free report to explore the key findings today: https://bit.ly/4cTuRXV

Beyond Bank People First Bank

***BREAKING NEWS*** ASIC has permanently banned a former Sydney-based mortgage broker following fraud convictions.
Find out more on The Adviser:

Former broker permanently banned following fraud convictions ASIC has permanently banned a former Sydney-based mortgage broker following fraud convictions.

Getting new business through the door is a key part of growing a business. This month, we ask brokers… How do you source new business?
Find out what they said on The Adviser

The Word: How do you source new business? Getting new business through the door is a key part of growing a business. This month, we ask…

Loan activity from small businesses “has gone backwards”, with the number of loan applications falling and approvals plummeting, according to non-bank lender Banjo Loans
Find out why on The Adviser

Banjo reports 86% rise in loan rejections YoY Loan activity from small businesses “has gone backwards”, with the number of loan applications falling and approvals plummeting, according to the lender.

The shareholders of the SME lender Prospa have voted in favour of the proposal to be acquired by a consortium led by the Salter Brothers Tech Fund
Find out more on The Adviser

Prospa shareholders vote in favour of takeover The shareholders of the SME lender have voted in favour of the proposal to be acquired by a consortium led by the Salter Brothers Tech Fund.

: We sit down with Aaron Hockey of Lendi Group to review the evolution of the broker channel and the skills a modern broker needs to succeed. Tune in: https://bit.ly/3y7Ycis

Brokers have predicted that lenders that make a positive environmental, community, and social impact will enjoy more loyalty from borrowers, according to a new report

Client loyalty greater if lenders make positive impact: Brokers Brokers have predicted that lenders that make a positive environmental, community, and social impact will attract and retain more borrowers, according to a new report.

The land registries in Queensland and NSW have committed to continuing the progression of interoperability despite ARNECC pausing the program.

NSW and Qld look to recommence interoperability despite ‘pause’ The land registries in Queensland and NSW have committed to continuing the progression of interoperability despite ARNECC pausing the program.

An updated draft cost recovery implementation statement (CRIS) from ASIC Connecthas been released for FY24, after its minimum levy for credit intermediaries was questioned by a member of industry.

ASIC got broker levy numbers wrong A reduced minimum levy has been confirmed for credit intermediaries after an industry member flagged inconsistencies with the regulator's numbers.

A Broker’s Vessel To Success with Hai Money

Hai Money, a newly launched sub-aggregation group of Finsure, is dedicated to amplifying brokers’ voices and providing top-notch support. We spoke with Bruce Li, Head of Growth and Strategy, about Hai Money's mission to boost broker performance through educational resources, extensive support, and a tight-knit community.

Read the full article to learn more about Hai Money’s offerings and how we can help you thrive.
https://bit.ly/3S8qQH5

ANALYSIS: Is the broking industry missing millions in unpaid commissions?

The complexity and opacity of commission payments are leaving brokers out of pocket, with one broker having found $60,000 worth of unpaid upfronts last year.

Annie Kane takes a look at the issue on The Adviser

Is the broking industry missing millions in unpaid commissions? ANALYSIS The complexity and opacity of commission payments are leaving brokers out of pocket, with one broker having found $60,000 worth of unpaid upfronts last year.

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First home buyers have continued to purchase property with broker support even as they struggle to save for a deposit, Helia has revealed.

3/4 of FHBs saving less than 20% deposit: Helia First home buyers have continued to purchase property with broker support even as they struggle to save for a deposit, the LMI provider has revealed.

Agile Market Intelligence, in partnership with Beyond Bank, P&N Bank, and People First Bank, is pleased to introduce the inaugural People & Planet Report 2024.

This comprehensive study explores the attitudes, perceptions, and priorities of Australian consumers and mortgage brokers on the rising significance of social and environmental factors in residential mortgage lending.

Discover the insights and revelations of the People & Planet Report 2024 by downloading your free copy today!

Download it here: https://bit.ly/4cTuRXV

Beyond Bank Heritage