Branching Out - Resimac

future proof supercharGe 

why insurance can build 

longer client relationships 

Broker’s Guide 

May 2012 

Branching 

Out 

Growth opportunities have never 

been greater for brokers who are 

ready to break new ground 

how the rush for sMsfs can 

boost your voluMes

SUCCESS THROUGH 

DIVERSIFICATION 

Insurance 

Residential Lending 

Financial Planning 

Ballast 

Accounting 

Commercial Lending 

Superannuation 

Call Ballast today about 

joining the Award Winning Team 

1300 270 942

Improving the 

‘one-stop shop’ 

Diversifying your offering opens the door to 

opportunities not available to brokers who 

restrict themselves to residential loans 

A recent online straw 

poll conducted by The Adviser 

revealed that while 30 per cent 

of brokers cross sell three or 

more products on average, 

23 per cent still avoid cross 

selling altogether. 

A similar survey in August 

2010 found 32 per cent sold 

three or more products while 

20 per cent of brokers did no 

cross selling. 

Is there a reason why 

nearly one in four brokers 

confines themselves to writing 

residential loans? 

Certainly, not wanting to be 

a jack of all trades and a master 

of none is a legitimate concern 

– particularly for brokers new 

to the profession and for some 

small brokerages. 

That said, the benefits of 

breaking into new areas to 

create a more diversified broker 

proposition are undeniable. And 

while there are challenges, being 

forced – or perceived – to be a jack 

of all trades does not have to be 

one of them. 

In this Broker’s Guide, we 

aim to show you not only why 

diversifying your services can 

deliver you tangible business 

benefits but also why it doesn’t 

need to be that complicated. 

For many brokers, offering 

insurance products is standard 

editor’s letter 

practice. But there are other 

ways in which to broaden your 

proposition, including offering 

commercial, specialist/nonconforming 

and SMSF loans 

as well as equipment, debtor 

and short-term financing. We 

cover all of these areas in the 

Broker’s Guide. 

The benefits include repeat 

and referred business – through 

exposure to professionals across 

a number of areas – as well as 

stronger relationships. 

Being able to offer a broader 

suite of services to residential 

mortgage clients can also be 

a powerful differentiator in 

an increasingly competitive 

marketplace and subdued 

property market. 

It’s not just about adding a new 

string to your bow. Diversification 

involves taking smart, strategic 

steps to broaden what you offer 

your clients, thereby sharpening 

your competitive edge and 

boosting your business’ revenue. 

Jessica Darnbrough 

Editor 

branching out / 01

Contents 

02 / branching out 

page 04 / BReakiNg New gRoUNd 

Product diversification can have very significant business benefits for brokers 

page 8 / ReVeNUe pLUS 

brokers that don’t cross sell run the risk of missing out on revenue and 

losing market share 

page 12 / coVeRiNg yoUR cLieNt 

brokers are well placed to offer the product that will safeguard their clients’ future 

page 16 / BRokeR pRofiLe: ausco trading’s ray Ethell 

page18 / gettiNg dowN to BUSiNeSS 

Savvy brokers see the opportunities that await in the commercial property and 

business lending sector 

page 22 / oNe Size Not foR aLL 

brokers are in a prime position to help non-conforming borrowers access capital 

page 26 / SMSfS: SeiziNg a gRowiNg oppoRtUNity 

australia’s fastest growing area of lending represents a major opportunity for brokers 

page 34 / BUiLdiNg a foUNdatioN foR BUSiNeSS 

Leasing and equipment financing can be the door to a client’s other lending needs 

page 39 / pUt it oN the BiLL 

Debtor finance can be invaluable to a business, with brokers cashing in on unpaid bills 

page 43 / QUick caSh, LoNg-teRM gaiNS 

Short-term loan clients can bring new business to brokers who treat them right

Winner of Wholesale Aggregator for 2 years runningand 

we’ve only had our 2nd birthday! 

So much MORE than mortgages... 

Get started today - Join an industry leading aggregator. 

Call us on 1300 656 922 or go to www.vow.com.au. 

Australian Credit License Number 390261 ABN 66 138 789 161

introduction 


Breakin 

new gr 

Story / Jessica Darnbrough

Moving into new areas might 

be a daunting prospect, but 

product diversification can 

have very significant business 

benefits for brokers 

Old-schOOl brOking was about residential 

mortgages – transactional rather than relationshipbased 

– and brokers were less advisers who took 

into account a client’s overarching financial situation 

and more processers of loan applications. 

But things have changed. To be successful in 

an increasingly competitive lending environment, 

brokers generally need to be more to their clients 

than document processors. 

To do that, they will need to look seriously at 

breaking into new areas – diversification – and 

providing products and services that complement 

their residential mortgage expertise. 

According to Vow Financial’s chief executive, 

Tim Brown, diversification is crucial to the success of 

a broker’s business. 

“At Vow, we have always supported 

diversification,” he says. “We believe that in the 

current environment it is more important than ever 

for brokers to diversify. 

“The property market is flat – there’s no denying 

that. So, with less residential mortgage business 

coming through a broker’s door, it is important 

that they look for other business opportunities. By 

g 

ound 

diversifying their core offering, brokers can generate 

more income from each and every client.” 

The global financial crisis and the National 

Consumer Credit Protection Act (NCCP) have 

cemented the value of a diversified broker offering. 

The crisis put borrowers on edge, the majors 

reaped the benefits of being perceived as a safe haven 

and many lenders slashed broker commissions by up 

to 30 per cent. 

Meanwhile, under the terms of the NCCP, 

brokers are now required to get a picture of the 

“consumer’s requirements and objectives and their 

financial situation”. 

While this fact find should guide the broker as 

they review the most suitable financial products, the 

requirement also opens the door to cross selling. 

“Under NCCP, brokers are required to meet with 

their clients and complete a detailed clients’ needs 

analysis, which includes several questions about 

insurance,” Mr Brown says. “Where, as previously, 

brokers felt as though they had to sell insurance to 

their clients, today it is part of their due diligence. 

“NCCP has made diversification a lot easier 

for brokers.” 

Strengthening the propoSition 

Of course, brokers should not stop at insurance, says 

Mr Brown. 

“The client needs analysis opens the door for 

brokers to offer a lot more than insurance and a 

residential mortgage,” he says. 

“In fact, when a client is transacting a mortgage 

it is the perfect opportunity for brokers to look at all 

of their needs around all of their assets. There are 

some obvious areas that brokers can easily diversify 

into, including general insurance, home and contents 

insurance, financial planning and wealth. 

“But when they are looking at all of their assets 

they should also discuss wealth management, selfmanaged 

super funds, equipment and leasing finance 

– even commercial property.” 

“Diversification helps brokers earn more 

money, and from every client – it is an easy win,” 

Mr Brown continues. 

Secondly, brokers who diversify can also expect 

branching out / 05

introduction 

to sell their business for a higher amount when they 

leave the industry. 

“I truly believe brokers who want to run a 

business cannot be ‘mono-line’ service providers,” 

he says. “If you want to sell your business for a higher 

recurring trail when you leave the industry, you must 

have multiple streams of income.” 

Generally speaking, a mono-line business is 

worth anywhere between 1.2 and 1.8 times a broker’s 

recurring trail. 

However, businesses that diversify can earn up to 

3.5 times recurring trail. 

“Those that integrate general insurance, risk 

insurance or property management into their 

business can be assured of earning higher multiples,” 

Mr Brown says. 

Financial planners are also attracted to books 

that earn good revenue from insurance and property 

management. Not only can these clients be cross sold 

to, but they are also likely to need or require the skills 

of a planner. 

“With less residential 

mortgage business coming 

through a broker’s door, it is 

important that they look for 

other business opportunities” 


Finally, diversification helps strengthen a broker’s 

value proposition. 

Having a diversified offering allows a broker 

to more effectively meet the financial needs of 

clients and this in turn is likely to support their 

retention long-term. 

Safeguarding your databaSe 

Client retention is arguably the most important 

reason for diversifying, according to Ballast’s general 

manager, Frank Paratore. 

“In today’s market, it is more important than 

ever for brokers to protect their database,” he says. 

“Banks are hungry for business. They will have no 

problems offering additional products and services to 

a broker’s client. 

“Broker’s that don’t diversify aren’t creating 

sticky clients.” 

So many brokers still see themselves as being 

“transactionally based” rather than “relationship 

based”, Mr Paratore says. 

“A broker has a relationship with their client, 

and the sooner they understand this, the better they 

will do. If you do the right thing by your client, your 

business will benefit as a direct result.” 

Today’s clients need their brokers to be a one-stop 

shop, he says, but broadening a service offering needs 

to be done carefully and strategically. What can be done 

in-house? What should be outsourced? Will adding this 

or that product stretch resources too thinly? 

Leveraging existing clients and relationships will, 

however, go a long way to establishing a genuinely 

diversified offering.

Supporting SMSF-backed 

property investment 

St George Bank Group’s SMSF product is 

making the SMSF loan process easier both 

for brokers and clients 

The self-managed super 

fund (SMSF) space now 

represents a huge opportunity 

for brokers. We know that the 

volume of SMSFs is growing at 

a significant rate and we also 

believe we have one of the best 

SMSF home loan products in the 

lending marketplace. 

In Australia, real estate 

has been regarded as a solid 

investment for several years now – 

of course, there are always going to 

be fluctuations but, in general, both 

capital growth and investment 

stability have been evident for time. 

No two property investors 

are alike, however, and while 

profile 

some may be first time buyers, 

others may be eyeing purchasing 

by borrowing via their SMSF. This 

is a great opportunity for brokers 

to talk to them about using our 

SMSF home loan to achieve 

their goal. 

Why is our SMSF home 

loan different? 

It’s simple and easy 

to understand 

We have a dedicated SMSF 

home loan team of assessors 

within our broker mortgage 

service team 

Interest offset is available on 

variable rate loans, providing 

the flexibility to accumulate and 

access additional funds while 

helping customers to save 

interest on their loan 

Up to 80 per cent LVR 

We allow clients to refinance 

their current SMSF home loan 

A draft security custodian deed 

acceptable to the Bank is available 

on our partners’ websites 

We also understand there is 

often a substantial investment 

involved in setting up an SMSF 

home loan so to make it easier 

for you, we’ll do an approval in 

principle without a structure 

being formalised. 

This allows the client to gain 

approval before going to the 

expense of setting up the formal 

SMSF structure. 

To find out more, please contact 

one of our BDMs. They are all 

subject matter experts and can 

assist you with any SMSF home 

loan questions you may have. 

Alternatively, please 

call Mortgage Central on 

1300 137 532. 

BranchinG out / 07

feature / cross sell 

Revenue 

plus 

Story / Jessica Darnbrough

okers that don’t cross sell run the risk 

of missing out on revenue and losing 

market share 

AustraliA’s mAjor banks 

have since last year been engaged 

in a bitter price war and are 

hungrier than ever for business, 

going head to head with the 

non‑major and non‑bank lenders 

to secure clients. 

While competition at this 

level is, arguably, good news for 

brokers and their clients, it also 

puts pressure on the third party 

channel to have something – a 

value‑add – that differentiates 

its services from those offered by 

the banks. 

That ‘something’ may well be 

cross selling and brokers who are 

able to do more than just secure 

a residential loan may find they 

also secure a client for life in 

the process. 

According to Ballast’s 

general manager, Frank Paratore, 

Australia’s lenders will stop 

at nothing to generate additional 

business. “Brokers who do 

not cross sell run the risk of 

losing their clients to the banks,” 

he says. 

“While some brokers 

are hesitant to cross sell 

additional products, the 

banks are not. If a bank starts 

cross selling to a broker’s 

client, the broker has less 

chance of retaining that 

client long‑term.” 

A mAjor benefit 

Client retention is one of the 

biggest benefits associated 

with cross selling, according 

to Connective principal 

Mark Haron. 

Mr Haron says brokers 

who cross sell two or three 

products will build strong 

client relationships, which 

is critically important to a 

brokers’ success. 

“In today’s market, with the 

property market flat, brokers 

need to ensure the service they 

provide their clients is good 

enough to keep them coming 

back time and time again,” 

he says. “At the end of the day, 

repeat business is a broker’s bread 

and butter.” 

House + Home Loans’ owner 

Rael Bricker agrees, which is why 

all his brokers actively cross sell. 

Mr Bricker says that to 

provide the best financial advice 

and best service, brokers have 

to offer products to complement 

their mortgage products. 

“I believe it is part of our 

responsible lending obligations,” 

he says. “Brokers who do not 

cross sell are not successfully 

fulfilling all of their client’s 

needs. In my experience, I 

have found brokers who do 

not successfully fulfil a client’s 

needs, do not receive any repeat 

business opportunities.” 

In other words, the client 

is likely to find their way back 

to the bank and out of the 

broker’s hands. 

It makes good business sense, 

according to Mr Bricker, for 

brokers to cross sell, whether 

they complete the additional 

services in‑house or outsource 

the work. 

“The more products you 

cross sell to a client, the stickier 

that client will be and the more 

income you can earn,” he says. 

“if a bank starts cross selling to 

a broker’s client, the broker has 

less chance of retaining that client 

long‑term” 

“When we cross sell 

insurance, we can earn up to 

$1,000 from each client. It might 

not sound like a lot, but it all 

adds up.” 

Additional income is another 

benefit closely associated with 

cross selling. The more products 

a broker cross sells, the more 

income streams they add to 

their business. 

branching out / 09

feature / cross sell 


In-house v outsourcIng 

Brokers who can service the needs of 

the client with more touch points – via 

more products – foster not only a strong 

relationship, but a stronger bottom line 

as well. 

Of course, the broker does not 

necessarily have to provide the service 

themself. In fact, many brokers prefer 

to refer the business to other finance 

professionals such as financial planners 

or accountants. 

Jamil Allouche, one of The Adviser’s 

top 25 Elite Business Writers in 2011, 

prefers to refer his clients onto other 

finance professionals rather than 

conduct the business himself. 

“I am a mortgage professional,” 

he says, “not a financial planner and 

not an accountant. It makes sense 

for me to outsource the work to 

other professionals. 

“I want to be a master of one trade, 

not a jack of all. It is for this reason that 

I choose to refer my clients on.” 

Of course, brokers should not 

refer their clients on to just anyone as 

the quality of the referral will reflect 

specifically on them. 

According to Mr Allouche, 

brokers should complete their due 

diligence and send their clients to 

professionals with whom they have an 

established connection – a professional 

they trust. 

Again, quality service will increase 

the chances of the client staying with 

the broker rather than going direct to a 

lender to refinance their loan. 

“I need my professional referrer to 

service my clients to the same standard 

that I would. If they don’t service them 

properly, it reflects poorly on me. I lose 

business – both repeat and referral,” 

he says. 

selectIng a partner 

So, how does a broker go about finding 

the right referral partner? 

Mr Allouche says it is important to 

listen to the feedback of others. 

“Just as clients pick their broker on 

the back of positive word of mouth, I do 

the same with my referral partners. If I 

hear positive feedback about a finance 

professional, I already know that I can 

trust them to a certain extent with my 

clients,” he says. 

“From there, I give them a 

chance and if they don’t deliver, I cut 

them loose. 

“I also think it is important for 

brokers to meet with their potential 

referral partners – make sure they 

appear well, speak well and mean well.” 

Once you have your referral 

partners teed up, Mr Allouche says 

brokers are in the best position to cross 

sell additional products to each and 

every client. 

“With reliable financial referral 

partners in place, brokers can go about 

cross selling to all of their clients 

and meeting all of their financial 

needs. When I started cross selling, 

I immediately saw my business grow 

and I can guarantee the story is the 

same for all brokers that do so.”

Do better with a St.George 

Super Fund Home Loan. 

Talk to your BDM today. 

Help your customers accelerate their wealth 

accumulation and diversify their investments 

with a St.George Super Fund Home Loan. 

1300 137 532 partners.stgeorge.com.au 

Subject to our credit criteria. Terms and conditions are available on application. St.George Bank – A Division of Westpac Banking Corporation ABN 33 007 457 141 

AFSL 233714 and Australian credit licence 233714. STGW1486 04/12

feature / insurAnce 

Covering 

your clients 

12 / brAnching out 

Story / Vivienne Kelly 

As clients take on 

new responsibilities, 

brokers are well 

placed to offer the 

product that will 

safeguard their future

Insurance Is one of the 

most frequently offered cross 

sell products and one of the 

most established with mortgage 

brokers who have chosen to 

diversify their offering. 

With responsible lending 

regulations now in place, an 

insurance package will support 

the duty of care that brokers need 

to extend to their clients, some 

of whom would need insurance 

more than others. 

However, cross selling 

insurance is also an important 

and relatively easy way to 

generate additional revenue and 

build deeper client relationships. 

Australia is one of the 

most under-insured countries 

in the developed world, with 

many people either unable to 

or uninterested in protecting 

themselves against loss of 

income, accident, illness or death. 

Given the consequences of 

being unable to meet mortgage 

repayments, brokers are well 

positioned to discuss and offer 

insurance to clients. 

PROTECTION FOR CLIENTS 

For financially vulnerable clients, 

discussing insurance is a key 

element of a broker’s duty of care. 

“First and foremost, you 

now under NCCP have a 

requirement to understand 

your clients’ needs,” says Tim 

Brown, chief executive officer of 

Vow Financial. “Part of that, at 

different times, will [involve] the 

need to protect them and their 

assets. So insurance is an obvious 

step for brokers.” 

Ray Hair, chief executive 

officer of ALI Group, agrees. 

“I think the 

primary reason 

that brokers should 

provide insurance 

is that duty of care 

with responsible 

lending” 

“I think the primary reason that 

brokers should provide insurance 

is that duty of care with responsible 

lending,” Mr Hair says. 

“You’ve got that requirement 

now to assess the borrower’s 

ability to service the loan without 

undue hardship, and it’s at that 

point that you can actually have 

the conversation with them about 

taking on the additional debt and 

‘what would happen if...?’” 

Timing is therefore the 

key to breaking into the 

insurance market. 

“When someone’s transacting 

a loan, there’s no better time 

to review a client’s insurance 

products,” Mr Brown says. “You’re 

adding a fairly large asset and 

they’re improving the value of 

their assets, so they need to review 

their insurance. 

“A good broker would offer 

those coverages or at least tell a 

borrower they should be reviewed.” 

Mr Hair adds that even 

though a crisis may not be front 

of mind when a borrower takes 

on a new mortgage, it’s important 

that they – and their home – have 

branching out / 13

FEATURE / insurance 

adequate protection against 

unforeseen circumstances. 

BUSINESS BENEFITS 

Cross selling insurance not 

only helps protect the client, 

it can also benefit a broker’s 

business significantly. 

ALI Group offers a range of 

different commission structures, 

but the group’s standard package is 

a 30 per cent upfront commission 

with 10 per cent trail based on the 

annualised premium. 

Mr Hair estimates revenue 

earned from offering insurance 

through ALI Group can boost what 

a broker would earn on a $300,000 

mortgage by around 10 per cent. 

“We also have a rewards 

program which is the equivalent 


of your business will increase 

because you’re not relying on one 

stream of income; and your fixed 

costs remain much the same – by 

offering other products you offset a 

lot of that fixed cost and make your 

business more profitable.” 

WHAT’S ON OFFER 

There are two ways in which brokers 

can diversify into insurance: by 

establishing a referral partnership 

and referring insurance business to 

a specialist, or by getting qualified. 

Mr Brown believes both are 

valid and potentially profitable 

options but cautions against biting 

off more than you can chew by 

choosing the second option. 

“I always recommend referring 

clients to a specialist if brokers 

“Cross selling insurance is an important 

and relatively easy way to generate 

additional revenue and build deeper 

client relationships” 

of another 10 per cent upfront 

commission,” says Mr Hair. 

“It’s a non-cash reward, such as 

travel vouchers. We find that’s 

quite appealing to brokers and 

their staff.” 

According to Mr Brown, 

meanwhile, offering insurance is 

beneficial for three reasons from a 

business perspective 

“There are three things a 

broker needs to consider,” he 

says. “[Offering insurance] helps 

retain your client; the value 

aren’t comfortable taking it on 

themselves,” he says. 

“It depends what you want to 

do in terms of insurance,” Mr Hair 

says. “The range is quite broad, and 

from a broker’s point of view it’s a 

trade off between risk and reward.” 

By referring the business 

to someone else, you are losing 

control of the client to a certain 

extent, according to Mr Hair, 

but it can still work quite well – 

particularly because you aren’t 

taking on any of the risk yourself. 

The other option is to get 

qualified by completing a financial 

planning diploma. 

“If you want to do the work, and 

you want to take on the additional 

risks and responsibilities, you can 

become fully qualified, but that 

comes with increased obligations,” 

says Mr Hair. 

“You do end up with a higher 

earning potential though.” 

ALI Group occupies the middle 

ground, he adds. “Our products 

are simple and easy to understand. 

It’s affordable, it’s convenient and 

brokers don’t need to become an 

insurance expert.” 

ALI Group runs three-hour 

training sessions for brokers to 

make them aware of the elements 

of the different products as well as 

the group’s specific requirements. 

WHEN TO START 

As borrowers increase their 

portfolio of assets and therefore 

their liabilities, the financial 

damage they are likely to sustain 

if things go pear-shaped due 

to unforeseen circumstances 

also increases. 

Brokers, provided they are 

willing to initiate what can be a hard 

conversation, are therefore well 

positioned to cross sell the insurance 

that will safeguard their future. 

According to Mr Brown, 

there’s no better time to start than 

right now. 

“When a client comes to 

you, it’s more than likely they’re 

taking on larger repayments 

than they’re used to, so they 

need to look at the risks,” he says. 

“Brokers can help them through 

this, so they should start the 

conversation immediately.”

Protection and peace of mind 

Integrating ALI Group’s loan protection products in their offering 

can strengthen a broker’s client relationships 

ray hair 

ALI Group was established in 

2003 as a specialist risk insurance 

business committed to ensuring 

mortgage brokers are able 

to provide their clients with 

convenient and timely access to 

affordable loan protection. 

We deliver quality products 

that are easy to understand, 

obtain and claim upon by way of 

a simple offer process, allowing 

clients to make an informed 

decision on their need for 

protection, says CEO Ray Hair. 

ali’s products 

Authorised Representatives of 

ALI Group can offer two loan 

protection products: 

Loan Protection Plan – designed 

to pay off the loan principal. 

This provides cover for Death 

& Terminal Illness and 11 serious 

medical conditions. 

Loan Repayment Protection 

– designed to assist with 

loan repayments. 

This provides financial 

assistance when you suffer a 

serious illness or injury that is 

likely to prevent you from making 

your loan repayments for a period 

of time. Also includes cover for 52 

‘Crisis Events’. 

Both products provide cover 

for involuntary unemployment 

occurring during the first 12 

months of the policy. This 

unemployment benefit covers 

self-employed workers and 

people on fixed-term contracts. 

Our products are backed 

by two of the country’s leading 

insurance providers, MetLife 

Insurance Limited and ACE 

Insurance Limited. 

What are the benefits? 

Broker-controlled process – you 

get to maintain and strengthen 

your client relationship 

aLI group / profile 

ray hair 

chief executive officer 

You can provide protection for 

your clients in a timely fashion, 

with guaranteed acceptance 

rather than a referral which can 

be a lengthy process often 

resulting in a client being 

left underinsured 

In the context of responsible 

lending, brokers have a duty to 

ensure their clients have the 

capacity to service their loan 

without undue hardship. Offering 

protection satisfies this need 

Peace of mind – both for you 

and your clients 

Attractive remuneration, 

diversifying and growing 

your income 

For more information, contact one 

of our Regional Sales Managers: 

Debbie Ryan 

Regional Sales Manager, 

NSW/ACT & QLD - 

0427 110 800 or 

debbieryan@aligroup.com.au 

Gabrielle Moscati 

Regional Sales Manager, 

VIC/TAS, SA/NT & WA - 

0417 409 601 or 

gabriellemoscati@aligroup.com.au 

branchIng out / 15

oker profile 

Supporting 

the non-conformers 

When it comes to collecting information from his non-conforming 

loan clients, ausco trading’s ray ethell isn’t afraid to dig deep 

What kind of loans do 

you Write? 

My focus is on low doc and creditimpaired 

lending for residential 

and commercial properties. 

Why did you decide to 

Write these loans? 

As one of the first brokerages with 

an internet presence, we found the 

majority of the leads we received 

were in the non-conforming area. 

Instead of ignoring this we saw it 

as an opportunity to specialise in 

the area, so we set up a dedicated 

website, researched specialised 

funders and have developed our 

expertise over the last 12 years. 

What are the benefits? 

Being in the non-conforming 

area means extra income and 

the opportunity to refinance the 

client into a prime loan after credit 

issues are cleared up. Furthermore, 

pre-GFC, a client would have been 

snapped up by both banks and 

mortgage insurers but now they’re 

candidates for non-conforming 

which means we’re writing far 

more loans. 


What advice Would you 

pass on to brokers? 

When it comes to the creditimpaired, 

make sure you get the 

full story from the borrower – what 

happened in their life to create 

their credit problems and have 

they resolved these issues now? 

Obtain a credit report for the client 

– don’t just rely on the borrower’s 

version of events so you can make 

an accurate assessment of their 

position – and for low doc loans, 

talk to their accountant to verify 

their income status. Be prepared 

to say no if you have any doubts. 

What factors determine 

success in this area? 

Foremost, brokers need to access 

a non-bank lender that offers 

several specialist funding lines. 

It’s crucial that brokers are able 

to source borrower leads, too by 

establishing referral arrangements 

or by searching their current 

database. Obviously, once the 

broker has met with the client, 

they need to be in a position to 

provide the lender with as much 

information about the potential 

borrower as possible to maximise 

the chances of loan settlement. 

What does the 

future hold? 

As credit tightens, prime 

lenders will predominately be 

chasing the prime area of the 

market, which will squeeze 

many more borrowers into the 

non-conforming sector. This will 

certainly open up opportunities 

for brokers. 

“When it comes to the 

credit-impaired, make sure 

you get the full story from 

the borrower”

Borrower set rate for 12 months. Interest rate reverts to Standard Full Doc Variable Rate at the time of the 

expiry date, current details as reflected in Sintex Product Guide. For full terms and conditions contact Sintex. 

An experienced partner 

Customer focused solutions 

Sintex is a commercial funder with market leading products backed by exceptional service. 

Call today to discuss your next application. 

(02) 9278 9700 

www.sintex.com.au info@sintex.com.au 

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feature / CommerCial finanCe 

Getting down 

to business 


Commercial property and business loans 

often end up in the ‘too hard’ basket, but 

a savvy broker will see the opportunities 

that await within the sector 

At some stage during the life 

of their loan, many residential 

borrowers will also want 

commercial property or business 

finance. Letting your residential 

clients know their options early 


on can therefore help you secure 

their business. 

Adding this new revenue 

stream to your own business can 

begin with simply asking more 

questions during the fact find stage 

of a residential loan application. 

If a new or existing client has a 

business, you should take note. 

Australia now has 2.7 million 

small businesses, according to the 

federal government. This is good 

news for brokers, says Suresh Pillai, 

general manager for commercial 

finance at Liberty Financial, since 

there’s a good chance that an 

existing residential client will need 

further help. 

“There’s real scope for the 

broker to actually expand their

services and start saying, ‘Well, 

let me help your business out 

too’,” Mr Pillai says. 

COMMERCIAL APPEAL 

“Commercial finance in today’s 

market is a lot more profitable 

than traditional residential 

lending,” says Dominic 

Lambrinos, managing director 

of EasyBiz Finance. 

According to Mr Lambrinos, 

commercial finance can 

greatly increase a brokerage’s 

profitability because the loans 

are larger, and the upfronts and 

trails are higher than in other 

market segments. The other key 

benefit is a much greater chance 

of client retention. 

The commission and 

remuneration structure 

obviously varies between the 

various lending institutions, but 

Liberty’s Suresh Pillai believes 

commercial is more generous 

than other areas. 

“Within the commercial 

property space, our 

remuneration is a one per cent 

upfront fee and a 0.25 per cent 

trail,” he says. 

“Compared to the 

remuneration on most of 

your standard home loans, 

it’s quite lucrative. You’re also 

usually talking about larger 

loan sizes in the commercial 

property space.” 

Sintex also offers a generous 

package to brokers who write 

commercial loans, according to 

branching out / 19

feature / commercial finance 

the company’s general manager, 

Cathy Dimarchos. 

“Within Sintex, the fee 

structure is transparent and 

simple,” Ms Dimarchos says. 

“The broker earns 0.5 per cent 

plus GST from the Customer 

Application Fee and a trail of 

0.25 per cent.” 

Mr Pillai sees the financial 

benefits of commercial lending 

regularly himself. “We have found 

that brokers who branch out and 

diversify can actually increase 

their top line by 20 per cent,” he 

says. “It’s quite significant.” 

Commercial borrowers are 

also likely to be repeat clients. 

“Our statistics have proven 

that with each commercial loan 

written there is a home loan 


curve,” he says, explaining 

that Liberty offers commercial 

property finance, debtor finance 

and commercial asset finance. 

Sintex too has a range of 

options. “We will consider 

all non-specialised security 

properties, including retail, office, 

warehouses, commercial and 

residential,” says Ms Dimarchos. 

Mr Lambrinos, however, 

believes that despite the range of 

products available, brokers often 

limit themselves by specialising in 

only one or two. 

“People haven’t done 

commercial finance properly in 

Australia,” he says, “yet now, there 

are 14 or 15 different products out 

there for business finance – and 

the majority are stand-alone, so 

“Our statistics have proven that with each 

commercial loan written there is a home 

loan written at least 48 per cent of the 

time as well” 

written at least 48 per cent of the 

time as well,” says Ms Dimarchos. 

“This not only increases the 

broker’s bottom line but also 

increases the longevity of their 

client staying with them.” 

PrODuCt raNGe 

Writing a commercial loan 

doesn’t have to be daunting, and 

according to Mr Pillai, brokers 

have many options. 

“Brokers can essentially pick 

the gradient of their learning 

you don’t need to offer your house 

or any property security.” 

MOre WOrK INVOLVeD? 

Mr Lambrinos concedes that 

commercial lending can involve 

more work than its residential 

counterpart. However, he also 

believes many of the banks are 

failing to cater properly for 

Australia’s businesses. 

“The banks have shrunk their 

sphere and all the smaller guys are 

falling off the planet, so no one’s 

servicing them,” he says. The 

advantage for the broker willing 

to consider this area is that it’s 

much easier to get out there and 

find the work. 

“The other advantage is that 

not every broker is going to 

have all the skill sets required to 

deal with commercial lending,” 

he adds. 

Despite the extra work 

needed to close a commercial 

loan, finding commercial 

clients doesn’t need to be 

incredibly difficult. 

Brokers should start by 

asking their existing residential 

customers about their 

businesses. “I think it is relatively 

straightforward,” says Mr Pillai. 

“It’s just asking a few more 

questions of the people who are 

already walking through your 

doors every day.” 

EasyBiz Finance, which 

specialises in business finance, 

also uses social media to 

penetrate the market. “We have 

a very, very strong social media 

presence,” says Mr Lambrinos. 

“We also do a lot of internet 

marketing where we follow 

people’s profiles on Facebook. 

“If someone starts 

complaining that they can’t 

get business finance, we’re able 

to track that. As long as we 

can legally find out who that 

person is, we make sure we 

contact them.” 

With 2.7 million businesses in 

the country, a growing range of 

products and increased support 

from lenders, brokers have a 

real opportunity to increase 

their revenue stream through 

commercial work.

A dominant force in the market 

Enhancements to RESIMAC’s specialist lending suite are set to 

support its strong market position in 2012 

allan savins 

RESIMAC RECEntly completed a roadshow 

designed to share with customers the unique 

opportunities available in the current economic 

climate to write new business. 

“Through the provision of a white label 

wholesale mortgage offering, low interest rates, 

system support and a broad product offering, 

RESIMAC provides its customers with the tools to 

meet the diverse needs of Australian borrowers and 

enable mortgage brokers to target niche segments 

that have not been served in recent times,” says chief 

operating officer, Allan Savins. 

SpecialiSt lending 

“Being able to understand the specialist lending 

space, acknowledging that each specialist borrower 

is different, is what makes RESIMAC successful in this 

segment,” Mr Savins says. “RESIMAC’s dominance in 

specialist lending is unrivalled, highlighted by the 

rEsimac / pRofile 

allan SavinS 

chief operating officer 

breadth of policy and product parameters that cater 

for borrowers with clear or adverse credit, varying 

employment terms and alternative forms of income 

substantiation for the self-employed – just to name 

a few. 

“The unique nature of RESIMAC’s specialist 

lending products has been highlighted since the 

financial crisis, with many competitors having left 

the space or tightened their policies.” 

Specialist lending continues to be a focus 

for RESIMAC. This year, the company simplified 

and enhanced its offerings with an array of policy 

changes. Standout improvements to the specialist 

lending suite include a simplified borrower credit 

classification, increased maximum loan amounts and 

LVRs, unlimited cash out to 80 per cent LVR across 

RESIMAC’s three specialist products, simplified 

borrower credit classification and treatment of 

defaults, and overall credit appetite. 

A rate discount for continued good loan 

conduct is also provided to reward borrowers and 

improve retention. 

about ReSiMac 

Established in 1985, RESIMAC is a wholesale 

funder, originator and servicer of assets, primarily 

residential mortgages. 

The pioneer of Australian Residential Mortgage- 

Backed Securities (RMBS), RESIMAC’S first issue was 

in 1988. Since then, the company has issued over 

A$12.5 billion across 20 RMBS transactions and has 

continually been awarded a servicer ranking of ‘STRong’ 

by international ratings agency Standard & Poor’s. 

branching out / 21

feature / SpecialiSt and non-conforming loanS 

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32 / breaking new ground 

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NATHAN HINDMARSH 

RUGBY LEAGUE LEGEND & 

RESIMAC BRAND AMBASSADOR

ot for all 

Brokers are in a prime position to help the specialist and 

non‑conforming borrower access capital 

Since the introduction of 

NCCP regulation, some brokers 

have steered clear of the specialist 

and non-conforming sector due 

to the more stringent rules that 

now apply. 

But with mainstream lenders 

often unable to look outside the 

box, brokers still have a huge 

opportunity to capitalise on this 

area of the market. 

WHO ARE THEY? 

Specialist and non-conforming 

borrowers account for 

approximately five per cent of 

the lending market, according 

to RESIMAC’s chief operating 

officer, Allan Savins. 

The market was thriving 

before the global financial crisis 

(GFC). But with specialist 

and non-conforming lenders 


subsequently ceding ground to 

the majors, and increasingly tight 

credit criteria, many brokers are no 

longer sure how to target or service 

this market. 

The borrowers, however, are 

still out there. 

“Essentially, any borrower 

that doesn’t fit traditional lending 

guidelines falls into this category,” 

says Mr Savins. 

Based on that broad definition, 

it is clear the market is incredibly 

diverse – and doesn’t comprise 

only credit-impaired borrowers. 

Specialist and non-conforming 

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» Loans for business purposes 

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borrowers include the selfemployed, 

those who have only 

been employed short-term, 

“There’s nothing wrong with 

borrowers that have adverse credit, 

provided we understand why” 

Solutions from the leaders in Specialist Lending. 

borrowers who have been declined 

lender’s mortgage insurance, new 

immigrants with no Australian 

borrowing record and, finally, the 

credit-impaired. 

Mr Savins emphasises, 

however, there is a clear difference 

between those with a credit default 

who have experienced a ‘life 

event’ – sickness, accident, job 

loss, small business failure, divorce 

etc – and those who are habitual, 

systemic defaulters. 

Breaking new ground / 33

feature / SpecialiSt and non-conforming loanS 

“There’s nothing wrong with 

borrowers who have adverse credit, 

provided we understand why,” he 

says. “We want to give those types 

of borrowers another chance.” 

Murray Cowan, managing 

director of Better Mortgage 

Management, believes the market 

has actually expanded since 

the GFC. 

“Before the GFC, your typical 

specialist borrower would have 

had multiple defaults on their 

credit report or recent arrears on 

their loan statements,” he says. 

“Today, because lenders and 

mortgage insurers have tightened 

their credit requirements, a 

borrower can have as little as one 

default to be considered 

non‑conforming.” 

Hemisphere knows your 

clients are not all the same... 



fINDING a SOLutION 

Unfortunately, some brokers feel 

that due to NCCP, this market is 

now almost impossible to service. 

Bing Rana, mortgage manager 

at PECO Consulting, is one who 

believes the legislation has made it 

harder to write loans for specialist 

and non‑conforming borrowers. 

“The [NCCP] requirements 

have become more stringent,” 

he says. “More documentation is 

now required. Having said that, 

it’s really for the protection of the 

consumer and the broker as well.” 

Mr Cowan, however, believes 

other factors are at play. 

“The removal of exit fees, 

associated with the federal 

government’s banking reforms, 

has made specialist lending a 

more viable alternative for many 

borrowers as there are no longer 

any penalties for refinancing 

away from these products,” 

he says. 

Despite the extra work 

needed to comply with 

NCCP, there are still 

many solutions that 

brokers can offer 

this market. 

“We believe 

NCCP guidelines 

scared off some brokers 

from this market sector 

but as the guidelines 

are becoming more understood, 

brokers are returning,” says 

Mr Cowan. 

Mr Savins adds that much 

of the confusion around this 

sector is due to false perceptions. 

“There’s a perception that the rate 

is unsuitable; there’s a perception 

that you can’t write low doc 

loans under NCCP,” he says. “All 

NCCP does is ask brokers to make 

reasonable enquiries. 

“There’s also a perception that 

the solutions simply don’t exist 

anymore because brokers have 

seen a lot of specialist lenders exit 

the market.” 

Mr Savins cautions brokers 

against letting any client walk 

out of the door due to a false 

perception. Some brokers don’t 

even offer loans to specialist 

or non‑conforming borrowers 

because they assume the rate is 

too expensive. 

“Specialist rates can make 

brokers nervous,” he says, 

“but you should break the rate 

down into a weekly payment 

and then concentrate on the 

incremental payments.” 

Brokers don’t necessarily know 

what borrowers are thinking but 

they may be willing to take the 

higher rate to secure the loan 

and then look to refinance down 

the track.

Why target specialist and 

non-conforming borrowers? 

Despite the additional work associated with specialist and 

non‑conforming loans, the extra effort needed will pay dividends. 

Benefits 

A new client – by agreeing to help a specialist or non‑conforming 

borrower, you have a new client and a new income stream 

A potentiAl client for life – these borrowers will be grateful to 

you for securing them a loan, especially if they’ve been turned down 

in the past 

A refinAncing opportunity – once their finances are back on 

track, you can refinance a borrower into a mainstream loan 

Multiple touch points – refinancing is a chance to contact and 

market to your client at significant points in the loan’s life cycle 

referrAl opportunities – catering to a market that other 

brokers avoid will likely generate word‑of‑mouth business 

opportunities for you 

HOW DO I FIND THEM? 

Finding specialist and nonconforming 

clients does not 

necessarily need to be onerous, 

although they aren’t necessarily 

always going to just walk in the door. 

“Non-conforming borrowers 

will often approach brokers, having 

already been rejected by a major 

lender,” Mr Cowan says. However, 

he also recommends advertising 

in local media, explaining to 

borrowers that brokers can help 

where the major lenders can’t. 

“I think for their own business, 

brokers can’t afford to not target 

these borrowers,” adds Mr Savins. 

“People are saving more; they’re 

not borrowing as much. For a 

broker, there’s more work involved 

with finding clients. 

“To let a client walk out the 

door and say, ‘Sorry, I can’t help 

you because you’d require a 

specialist loan’ isn’t really feasible.” 

Checking an existing client 

database and leveraging referral 

relationships with accountants 

So you need a Specialist product 

range that is just as diverse. 

• Loans for self employed borrowers to 90% LVR 

• Solutions for clear and credit impaired borrowers 

• Unlimited cash out to 80% LVR 

• Rate reduces with good continuous repayments 

Call us on 1300 667 695 or 

visit www.hemispherefs.com.au 

and solicitors will also help reach 

these borrowers. 

Relationships with accountants 

are particularly good for this 

market segment, adds Mr Rana, 

because the borrowers that 

come through have been 

through a screening process with 

the accountant. 

THE BROKER’S EDGE 

Brokers are in a strong position 

when it comes to specialist and 

non-conforming borrowers: 

they’re looking for help (often 

following rejection by the 

bank) and brokers are uniquely 

positioned to offer them a solution. 

“The advantage for brokers 

is that we have access to more 

lenders who either specifically 

target this segment of the market 

or who offer better products 

than those the banks offer,” says 

Mr Rana. 

“The banks will never 

participate in this particular field 

because of the capital requirements 

on them to write these types of 

loans,” adds Mr Savins. 

“We’re not recommending you 

become specialists in specialist 

lending, but it’s a great market 

segment. The opportunity 

to help somebody out and 

give them another chance is 

quite compelling.”

feature / self-managed super funds 


SMSFs 

Seizing a growing 

opportunity 

Story / emily mclean

Self-managed super funds 

are the fastest growing 

area of lending in australia 

– and a major opportunity 

for brokers 

Self-managed Super fundS 

(SMSFs) are not new. However, 

disenchantment with the share market has left 

investors wanting greater control over their 

retirement savings, and when superannuation 

laws were amended to allow SMSFs to borrow 

to purchase an investment property, an 

opportunity for brokers to diversify into a 

new area arose. 

There are already 458,561 of these 

funds and this figure is growing at a 

rate of approximately 2,500 per month, 

according to the Australian Taxation Office. 

Furthermore, the Australian Prudential 

Regulation Authority (APR A) reports that 

as of December 2011, 30.6 per cent – nearly 

one third – of super assets were comprised 

of SMSFs. 

Required Finance broker Anthony 

D’Alessandro says he writes SMSF loans 

weekly, and being able to support SMSF 

clients now forms a large part of the 

company’s offering. “SMSF loans count for 

around 20 per cent of our total business 

and we’re hoping to increase that number 

beyond 40 percent with further training,” 

Mr D’Alessandro says. 

Affiliate Finance and Property’s Mary 

Sartinas, who is currently working on 

five SMSF loans, has a similar view. “If 

legislation stays as it is and lenders reduce 

their exorbitant fees, then I expect super will 

become a significant part of my business,” 

Ms Sartinas says. 

The lender perspecTive 

Lenders too are well aware of the increased 

interest in investment property purchases via 

an SMSF. Darren Little, head of mortgage 

broking at St George, says the SMSF loan 

is undoubtedly one of the bank’s fast 

growing products. 

Little’s advice to brokers is to just get in 

and have a go. The SMSF rules are not as 

complex as people think, he believes, adding 

that there are already plenty of brokers doing 

a good job in the SMSF space. 

David White, joint managing director of 

non-bank lender Australian First Mortgage 

(AFM), says the benefits of getting a client 

into an SMSF loan are considerable. “SMSF 

loans are sticky loans,” he says. “The average 

term for a residential loan is down to three 

years but brokers are looking at 10 years or 

more with an SMSF loan.” 

Mr White says brokers are in a prime 

position to offer SMSF loans due to their 

having referral networks. “Half of all clients 

“The average term for a 

residential loan is down to 

three years, but brokers 

are looking at 10 years or 

more with an sMsF loan” 

seen would have the required amount of funds 

to purchase property,” he says. “A broker 

could therefore take them out of their current 

super [which is] earning one per cent and turn 

that into a five per cent fixed investment.” 

The knowledge necessary 

While SMSF lending offers growing 

opportunities for brokers who want to 

diversify, there’s no getting away from 

the fact that the rules for funds and their 

administration are complex. 

Brokers need to get educated – 

branching out / 27

profile / australian financial 

 

 

 

A broker’s best option 

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is one of Australia’s top 10 

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Australian Financial was 

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In the current market 

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28 / Branching out 

been working hard to provide 

the broker network with the 

best options possible. The 

introduction of a self managed 

super fund (SMSF) loan is an 

excellent example of this desire 

to provide real competition in 

the market. 

The SMSF loan is positioned 

with one of the market’s lowest 

rates, currently at 6.65 per cent 

p.a., 1 year fixed pro‑pack. With a 

maximum LVR of 70 per cent and 

a simple application process, the 

product is a real alternative for 

property investors. 

Where Australian Financial 

differentiates itself from the banks 

is its broad range of top quality 

mortgage products, especially 

the cash out options. Other very 

competitive products include the 

6.49 per cent p.a. one‑year fixed 

loan for purchases of up to 95 per 

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With over 100 non‑conforming 

products, Australian Financial 

has the scale and independent 

structure to suite all types 

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Australian Financial is 

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ancial.com 

4


particularly about allowable 

borrowing and the 

Superannuation Industry 

Supervision Act (SIS) Act – if 

they are to add genuine value to 

their offering. 

Alicia Carter, national 

sales manager at Australian 

Financial, says about 70 per cent 

of the firm’s SMSF business 

comes from brokers with inhouse 

financial planners; only 

30 per cent is from brokers 

dealing directly with ‘mum and 

dad’ clients. 

“We feel this split is due to 

brokers not being pro-active and 

approaching their customers 


about the subject of super and 

their investment options,” Ms 

Carter says. “Brokers need to 

keep clients as informed as 

possible because most [clients] 

perceive SMSF loans as being 

more complicated than they 

actually are.” 

“Never underestimate 

the importance of needing 

to understand the legislation 

around SMSFs,” adds Mary 

Sartinas, who currently runs 

SMSF seminars for brokers who 

need to increase their knowledge 

of the area. 

“There are enormous risks 

when it comes to these funds as 

“Brokers need 

to keep clients 

as informed as 

possible because 

most [clients] 

perceive sMsf 

loans as being more 

complicated than 

they actually are” 

they’re regulated very heavily, so 

you must be cautious about the 

information you are imparting.” 

AFM’s Mr White says lack 

of knowledge also prompted 

the group to introduce training 

for brokers who work with 

the lender. 

referral 

opportunities 

Most areas into which brokers 

diversify offer benefits that 

include an increased referral 

network – and SMSF loans 

are no exception. Real estate 

agents, for example, are likely 

to be a significant source of new

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Mary Sartinas: 

A personal word 

“The first SMSF loan I wrote was back in 2009. Setting up that 

first loan made me realise that once consumers became better 

educated around the legislative requirements involving SMSFs, 

there would be a greater demand for this type of lending – 

which is clearly the case right now. 

“Whilst it’s not our role to advise clients whether an SMSF 

structure is appropriate for them, it’s imperative to have a 

thorough understanding of the legislative requirements, the 

legal structure and lender policy, without which we can’t be 

effective in our roles as brokers. 

“As a broker, you become very closely involved with coordinating 

the legal teams that represent the client and the 

bank. You also work very closely with the accountant and the 

financial adviser. I find myself being the co-ordinator between 

all parties involved because quite often there are gaps in the 

communication so brokers need to take hold of the reins and 

make sure the deal is done. 

“Some areas of the bank are still coming to grips with the 

legislative requirements so the entire application can be slow 

and drawn out. 

“We also don’t know what legislative changes there may 

be in the future for gearing in SMSF’s. It’s a constantly shifting 

platform and we’ve got to be conscious of that before we get 

too comfortable.” 


clients for brokers. According 

to White, “SMSF’s will be 

distributed through agents who 

are then affiliated with brokers, 

so I expect brokers to take the 

majority of SMSF lending in the 

years to come.” 

Mr D’Alessandro and 

Ms Sartinas, meanwhile, are seeing 

most of their referrals coming 

from accountants who are keen to 

increase their share of the SMSF 

market in the property sector. 

The opportunity to 

diversify a service offering 

based on increasing interest in 

investment property purchases 

through an SMSF is clearly 

not confined to brokers and 

financial planners. 

The SMSF market, however, 

is a “lucrative” one for brokers, 

according to Ms Carter. “Growth 

is happening in the purchase 

of properties in the inner 

suburbs, mainly around large 

developments,” she says. “It won’t 

be long before the competition 

heats up in this area.” 

And as St George’s Darren 

Little puts it, SMSFs are 

‘coming of age’. Self-managed 

funds are allowing brokers 

to capture a niche market 

and add a new item to their 

diversification toolkit. 

Education remains a work 

in progress – and is vitally 

important for a broker who 

wants to succeed in the 

SMSF space – but Mr White 

emphasises that the effort 

is well worth it. “SMSFs can 

increase your income, double 

your asset base and provide 

you with that ‘client for life’,” 

he says.

Motoring to success 

Motor vehicle leasing is an increasingly popular way for brokers 

to diversify their offering 

jon moodie 

Motor vehicle leasing is an increasingly 

popular ‘non-core’ offering that many brokers 

are incorporating into their product suite, says 

Macquarie Leasing’s Jon Moodie. A skilled broker can 

potentially earn around $350 to $400 per hour for a 

standard motor vehicle lease. 

“When brokers ask us how they can tap into 

what can be an excellent incremental source of 

income,” Mr Moodie says, “we recommend three 

simple steps: review their existing client base; 

implement a tailored and proactive marketing 

strategy; and develop some basic asset finance skills.” 

Reviewing and segmenting your existing client 

base is a simple and effective way to identify asset 

finance opportunities. Brokers should look for 

clients who are business owners or self-employed 

– these clients typically use asset finance to fund 

their vehicles. 

Macquarie Leasing / profile 

jon moodie 

executive director 

PAYG individuals who require a car for work 

purposes (such as sales representatives) can also be 

a source of business. 

Review not only how many clients have 

vehicle leasing requirements, but also the number 

of leases held. Many brokers find it’s more than 

they expect. 

After segmenting their client base, brokers can 

tailor specific, regular marketing and promotional 

campaigns. One successful approach is to offer 

to arrange pre-approvals and/or limit facilities 

for clients with motor vehicle finance for their 

next purchase. 

“Brokers should not assume their clients are 

aware they also provide a leasing service,” Mr Moodie 

says. “The key is to be proactive to make sure clients 

speak to you about finance before heading off to the 

car yard.” 

Finally, it is important to develop some basic 

asset finance knowledge. Macquarie Leasing 

provides regular group-based training sessions, 

webinars and presentations for brokers, usually in 

conjunction with our aggregator partners. 

Individual sessions can also be arranged and 

we support our accredited brokers via a Business 

Support Team when assistance is needed. 

Brokers can also expand their offering – and 

their bottom line potential – to other asset classes, 

such as equipment finance. The three simple steps 

outlined above apply equally to these assets. 

We find brokers are pleasantly surprised at how 

quick and easy it can be to transact a deal. Isn’t it 

time you joined them? 

branching out / 33

feature / Leasing and equipment finance 

Building a 

foundation 

forbusiness 

Story / Emily McLean 

34 / branching out

Leasing and equipment financing isn’t just about plant and 

vehicles; it can be the door to a client’s lending needs 

Brokers whose diversification strategy 

includes offering leasing and equipment 

financing frequently find they have a valuable, 

profitable and highly cost-effective string to 

their bow. 

Many have already latched on to the benefits, 

with nearly half of all respondents (49.5 per cent) 

to The Adviser’s 2011 readership survey revealing 

they had diversified into this area. 

Yarra Finance Director Manuel Manias, for 

example, says asset finance accounts for around 

70 per cent of his business. “Unlike clients 

requiring home loans, clients with financing needs 

return several times a year – simply because their 

assets are the wealth generators in their business.” 

Vehicle and equipment suppliers are core 

clients, Mr Manias says. “Many are without 

their own finance arm so they end up sending 

deals directly to us simply because we [can] 

convert it faster than any other entity could.” 

Daley Finance Brokers’ Mick Ward is 

seeing a huge demand for this type of finance. 

“If I’m not writing for our clients, somebody 

else is, so it protects what I have and retains 

clients,” he says. 

Nuts aNd bolts 

Most leasing and equipment clients are selfemployed 

or small business owners. In fact, 

loans in this area cannot be written unless the 

client has an Australian Business Number 

(ABN) specifically for a small business or 

self-employed trader. 

Macquarie Leasing currently provides 

finance for several types of motor vehicle, 

including passenger cars, trucks and 

transport equipment as well as goods for 

manufacturing plants, farm machinery and 

medical equipment. 

Brokers writing this type of finance can 

boost their bottom line significantly, according 

to Macquarie Leasing’s executive director, Jon 

Moodie. “After the initial learning period, a 

broker can earn between $350 and $500 per hour 

for a standard [leasing and equipment] loan, 

assuming the whole process takes two hours.” 

Mr Ward agrees. “I can spend one and half 

hours on a deal in leasing finance which gives 

me $1,000, and I can then spend eight hours on 

a home loan and earn $1,500,” he says. “Every 

broker should be doing this type of lending.” 

Commission structures differ between 

financiers, although brokers will generally receive 

between two and four per cent of the amount 

financed on a deal by deal basis. Brokers can 

generally expect commission to be paid into their 

account on or very soon after settlement day. 

Not a dauNtiNg area 

Writing a leasing and equipment loan is not as 

straightforward as residential home financing, 

and according to Mr Manias, there are grey areas. 

“It’s a very detailed process with no one way of 

getting someone approved,” he says. “As it requires 

analysing a company’s accounts, you have to be 

experienced and ask the right questions.” 

Mr Ward, however, claims it is a 

misconception that these loans are trickier 

to write. The income verification process is 

similar to that used for a home loan while credit 

is assessed the good old-fashioned way – by a 

human being rather than by an online credit 

scoring system. 

Nevertheless, he advises brokers to undertake 

some sort of training in this area of lending. 

“Often, this type of lending is settled very quickly 

– particularly vehicle finance – so you need to 

know how it all works from the outset.” 

branching out / 35

feature / Leasing and equipment finance 


“clients with financing needs return several times 

a year – simply because their assets are the wealth 

generators in their business” 

While a course may cost $500 or so, 

Mr Ward is adamant a broker will earn 

this back on their first deal. 

Mr Moodie adds that while there is 

a learning curve, it’s not a steep one and 

brokers need not be daunted: “Brokers 

new to leasing can become competent 

after completing a handful of deals,” 

he says. “The key is to begin with 

simple car deals before moving into the 

equipment area.” 

Pros and cons 

While leasing and equipment finance 

can be an opportunity to boost revenue 

relatively quickly, when it comes to 

obligations at settlement it lacks the 

security of residential lending. 

There is no requirement for the client 

to settle in leasing finance deals, even 

in the final document stage, unless they 

have put down a large deposit first. 

Mr Ward warns brokers to be wary of 

companies holding onto invoices when 

the client has come to you to finance 

their asset. “I once had a car yard hold 

onto the invoice, which made me look 

bad, but as long as you keep your client in 

the loop it’s not too bad,” he says. 

The need for caution, however, 

should not overshadow the benefits 

that can flow from offering leasing 

and equipment finance – which can 

include the opportunity to cement 

referral relationships and cross sell to 

existing clients. 

Leasing and equipment clients may 

well be already on a broker’s books. 

“A broker’s existing client base is the 

first and most crucial step in finding a 

market,” says Mr Moodie. 

Mr Ward adds that typical requests 

involve clients wanting to trade up when 

their vehicle reaches the end of its lease 

or hire purchase term. “It’s great – it’s like 

trail income only it’s every three or four 

years,” he says, “but if you have a large 

enough portfolio it means new business 

every month.” 

Leasing and equipment finance 

can also open the door to a client’s 

other borrowing requirements. “If 

I’m writing this business for my client 

it means I’m not referring them out 

or more importantly giving another 

finance provider the opportunity to look 

after my clients’ other lending needs,” 

Mr Ward says. 

Further business can be obtained 

from referral sources, including tax 

specialists (due to the range of tax 

implications involved), financial 

planners, equipment suppliers, 

trade and industry associations and 

commerce organisations. 

However, an accountant is the 

crucial referral source in this area of 

lending, says Mr Ward, adding that he 

recommends establishing a strategic 

relationship with one or several 

accountants specifically to obtain 

equipment finance business. 

“You can pick up those deals plus 

the collateral advantages afterwards,” 

he says. 

Mr Moodie also believes accountants 

are the key player in the area. “Often 

a client will discuss product type, 

structuring and GST issues with their 

accountant prior to seeking finance and 

this is where a broker benefits from that 

relationship,” he says.

Go the extra mile 

on cruise control. 

Vehicle and equipment finance: 

let us do the hard work for you. 

You know that diversifying can be the 

easiest way of attracting extra revenue, but 

you want to make sure that whatever you 

offer reflects your standards and deepens 

your client relationships. 

This is where Macquarie Leasing comes in. 

Whether you are a seasoned lease writer or a 

novice, you’ll find that we’ll back you with just the 

right service and support. Macquarie’s specialist 

BDMs and a dedicated Business Support Team 

understand your industry inside out; they know 

who you are and their sole purpose is to make 

your life easier. 

Application process and accreditation are simple, 

and we’ll even train you if required. We’ve been 

investing in your industry for 14 years and we 

believe it makes all the difference. Call us to 

discuss how we can help you delight your clients 

with smart solutions and impeccable service. 

Macquarie Leasing 

To speak to your BDM please call 1800 005 046 or email introducer@macquarie.com 

The referral of applications to Macquarie Leasing Pty Ltd (“Macquarie Leasing”) may be regulated by the National Consumer Credit Protection Act 2009 and related regulations. In the absence 

of an exemption for your circumstances, you may be required to obtain an Australian Credit Licence. You should make your own assessment and seek appropriate advice. All applications are 

subject to the satisfaction of approval criteria, and terms and conditions apply. No part of this document is to be construed as an offer capable of acceptance or as a solicitation to obtain a financial 

product. The information is not an expression of opinion or recommendation and does not constitute financial, accounting, taxation, general or personal advice and should not be relied on as 

such. Macquarie Leasing is not an authorised deposit taking institution for the purposes of the Banking Act (Commonwealth of Australia) 1959, and the obligations of Macquarie Leasing do not 

represent deposits or other liabilities of Macquarie Bank Limited. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of any of the obligations of Macquarie 

Leasing. © Macquarie Group

profile / ballasT 

Diversifying for success 

Today, more than ever before, brokers need to diversify their core 

offering in order to truly be successful 

frank paratore 

Ballast is an Australian 

owned and operated ‘boutique’ 

national financial services 

organisation, dedicated to 

providing an integrated range 

of financial services to assist you 

and your business. 

Since the company’s 

launch in 1996, Ballast has 

successfully strived to provide a 

quality diversified solution with 

impressive professionalism. 

The company’s structured 

diversified offering can be 

administered centrally and 

this ability to handle all of a 

client’s needs under one roof 

has remained key to Ballast’s 

38 / branching ouT 

strength and ongoing success in 

the lending industry. 

Ballast prides itself on being 

able to provide its brokers 

greater returns at lower risks. 

The company’s in-house 

services include, but are not 

limited to: 

Lending – residential, 

commercial and specialist 

Financial planning 

Self-managed super fund 

administration 

Accounting 

According to the company’s 

general manager Frank Paratore, 

Ballast gives its broker’s all the 

tools needed to create successful 

and long standing relationships 

with each and every client. 

“We see brokers as a bit 

like a financial GP, “ he says. 

“Whatever a client’s problem, 

the financial GP can sort it 

out. Sometimes, the solutions 

can be delivered in-house; 

sometimes, the client will have 

to be referred to a specialist in a 

particular area.” 

“Whatever the problem, 

whatever the need, our brokers 

can and will deliver. 

frank paratore 

general manager 

“At Ballast, we believe 

we diversify better than any 

other aggregator. No other 

group has the comprehensive 

diversification strategy that we 

have in place.” 

Ballast Finance holds an 

Australian Credit Licence. 

In addition, the company’s 

financial planning arm, Ballast 

Financial Management, 

holds an Australian Financial 

Services Licence, while Ballast 

Accounting is a Registered 

Tax Agent. 

Ballast has the structure, 

systems and training capabilities 

to allow you and your business 

to diversify. 

Whether it be adding 

to your current suite of 

products via Ballast’s licences 

or diversifying through a 

structured referral to Ballast, with 

Ballast you have the freedom 

to be successful and a true 

industry adviser. 

We’re the aggregator that 

does much more than just 

commission runs. 

For more information, please 

call us on 1300 270 942.

Put it 

on the 

bill 

Story / Emily McLean 

debtor finance can be invaluable to 

a small business, so brokers should 

consider cashing in on those unpaid bills 

Small and medium-sized 

businesses (SMEs) might be 

seeing slightly increased demand 

for goods and services, but the 

time purchasers take to settle 

their account is also up – from an 

average 30 days not that long ago to 

around 53 days currently. 

With cash flow uncertain, many 

businesses are finding they lack the 

working capital needed to grow. 

Enter debtor finance... 

the broker opportunity 

In recent years, major lenders 

ANZ and CBA have pulled out 

of offering debtor finance (DF) 

products. Laurie Matthews, 

principal of Australian Debtor 

Finance, says this has left clients 

looking to brokers to approach 

lenders on their behalf. 

“There are a number of 

financiers looking to offer the 

product and a number of small 

businesses [looking for] the 

product, so it’s just a matter 

of matching them up”, says 

Mr Matthews. 

According to the Australian 

Bureau of Statistics, there are 

2.1 million SMEs nationwide, 

but according to the Institute for 

Factors and Discounters, there 

are only 4, 647 clients using 

DF products. 

This suggests a market segment 

ripe for the picking. 

Businesses in the 

manufacturing, wholesale, 

debtor finance / feature 

employment and 

transport sectors are the ones 

most suited to DF products, 

Mr Matthews says. 

With cash flow management 

still one of the commonest reasons 

for businesses’ failing, DF offers 

clients an alternative to an 

overdraft without their having to 

secure the funds with real estate. 

Suresh Pillai, general manager, 

commercial finance at Liberty 

Financial adds that brokers are 

perfectly positioned to offer DF 

products. “Brokers have access to 

a vast repository of relationships 

with people with home loans,” 

he says. “These are the very 

same people that are running 

small businesses.” 

no expertiSe required 

A broker does not need to be a DF 

expert to include DF products in 

their offering; they simply need 

awareness. “Just asking a client if 

branching out / 39

feature / debtor finance 

they’ve considered DF and making 

them aware of it can be of huge 

assistance,” Mr Pillai says. 

DF is also seen as one of the 

most effective ways to strengthen 

the client/broker relationship. 

“Brokers are already regarded 

as trusted advisers, so that puts 

them in a good position to expand 

their repertoire and consider the 

provision of financing in a business 

capacity as well,” he adds. 

In fact, there is nothing to fear 

but fear itself when it comes to DF, 

according to Mr Pillai, who feels 

the greatest risk for brokers is not 

being aware of all the financial 

tools at hand. 

“To branch out and simply ask 

how their business is going carries 

no risk and should be seen as part of 


the role of being a trusted adviser,” 

he says. 

Andrew Boele Van Hensbroek, 

managing director of Cashflow 

Finance, strongly agrees. “I 

can’t see a downside for brokers 

because they’re introducing 

another product to the range of 

things they can offer,” he says. 

“Plus, it’s a service that’s very easy 

to set up and doesn’t require real 

estate security like most other 

forms of finance.” 

the rewards 

DF is generally commission-based 

and most brokers will receive an 

upfront fee. Commission varies 

greatly between the different 

lenders but in many cases it sits 

at one per cent. In addition, most

Q A 

& 

Suresh Pillai, Liberty FinanciaL 

Why Would a client approach a broker rather than 

a lender to access dF? 

Large lenders are picky about what small businesses they lend to 

so a broker is a great starting point. Small businesses need capital 

to grow, so accessing DF through a broker allows them to get the 

capital they need to run their business at sustainable levels. Cash flow 

mismanagement is a huge reason why small businesses go to a wall 

Why is the dF market ripe For brokers? 

There are around 2.7 million small businesses in Australia but only 

4,647 clients are using DF 

What are the big dF opportunities? 

DF offers a significant opportunity for a broker to provide advice 

outside the traditional consumer sphere. Brokers are able to offer a 

client a different perspective when it comes to financing their business 

do i need to be a dF expert to diversiFy into this space? 

Brokers by no means need to be experts or specialists in this area; they 

just need to have an awareness that they can offer this additional tool 

If you answered ‘Yes’ to either of these questions, then 

you have clients who want your help to meet the financial 

needs of their business. We can partner with you to do just 

that, while helping to give your own business a boost. 

We offer a wide range of commercial products, 

including commercial property loans, motor finance 

and debtor finance – suited to the needs of small- to 

medium-sized businesses and the self-employed – with 

competitive rates. 

We support our products with a customised approach. 

So, unlike other lenders, we consider businesses with 

unpaid ATO liabilities and those who require cash-out 

to consolidate debts. We know it’s hard for small 

businesses to manage the paperwork; that’s why we 

offer borrowers several income verification options. 

Want more revenue? 

of the risk in DF lending sits with 

the lenders. 

Mr Pillai sees DF as a chance to 

diversify and double opportunities 

for income flow. “To engage with a 

client about business needs and not 

just home loans opens up further 

opportunities for other forms of 

finance,” he says. 

The future of DF lending looks 

bright. Mr Van Hensbroek is 

optimistic and sees DF becoming a 

more common and more acceptable 

form of finance. In the past, 

brokers have concentrated on the 

more traditional ways to raise funds 

for their clients, but as the industry 

seeks to educate and inform 

brokers, accountants and advisers 

that this product does exist, DF 

lending is likely to soar. 

liberty financial / profile 

Do you have clients who are self-employed? 

Do you have clients who run their own businesses? 

Some of Liberty’s more popular commercial property 

loans include: 

LeaseStream: a straightforward loan, allowing 

borrowers to use lease income from a commercial 

property to satisfy servicing on a ‘stand alone’ basis. 

SuperCredit: a product for SMSFs investing in 

commercial or residential properties. SuperCredit 

offers a streamlined approach, with LVRs of up to 80% 

for residential and 70% for commercial properties. 

Plus, you’ll get a lucrative remuneration structure, 

simple approval process and our on-the-ground support. 

Choose freedom, choose Liberty today. 

Call our Introducer Hotline on 13 23 88 for 

more information. 

breaking branching new ground out / 41 33

profile / Vow Financial 

Simple path to diversification success 

Backed by a product support team, Vow Financial offers brokers 

a number of ways to add value to their service offering 

Tim Brown 

DiD you know you can 

Double your income per 

client over a 10-year 

perioD through a simple 

proDuct referral moDel? 

Many mortgage brokers might 

prefer to stick with their core 

business – mortgages. 

However, opportunities 

42 / Branching out 

arise for you to protect your 

client through a simple 

referral, allowing you to add 

other services to your toolkit. 

To find out more, go to 

www.vow.com.au/diversify 

Diversification maDe easy 

“When Vow Financial opened 

its doors for business in early 

2010, following the merger of 

three boutique aggregators, 

it had a fundamental business 

philosophy: to empower its 

brokers,” says CEO Tim Brown. 

“This approach to business 

has underpinned Vow’s service 

offering ever since.” In 2011, Vow 

diverted some of its energy into 

adding multiple income streams 

to brokers’ businesses. 

This has seen a number of 

Vow brokers adding thousands 

of dollars in new revenue to their 

businesses through a simple 

referral process. 

tim brown 

chief executive officer 

DiversifieD services 

“In six months, Vow Wealth 

Management had three offices 

up and running and providing 

financial planning services; 

Vow Legal set up a national 

conveyancing team; and 

Vow Leasing & Equipment 

Finance was also established,” 

says Mr Brown. 

“These services have been 

established to support our 

mortgage broker partners 

through a diversified product 

support team. We do all of the 

work for you!” 

To see how much more 

your business can earn 

through diversification, go to 

www.vow.com.au/vdc. 

To join an industry leader 

that will add value to your 

business, call Vow Financial 

on 1300 656 922. 

Vow Financial is one of the largest aggregators in Australia, with a book size approaching 

$16 billion and a network of more than 600 loan writers. Vow has simple referral relationships, 

so you can add more value to your business but not have to take your eye off your core 

business of mortgages.

Quick cash, 

long-term 

gains 

Story / Francis Wilkins 

clients with short-term loans don’t warm 

to lenders’ rates, but they may bring extra 

business to brokers who treat them right 

Short-ter m loanS are typically needed 

by businesses experiencing a temporary cash 

flow problem or that need an injection of working 

capital or funds for items such as a deposit for a 

commercial property. 

Borrowers can use property (including 

residential), vacant land and other assets as 

security, but the purpose of the short-term loan 

needs to be business-based (although under law 

this has not always been the case). 

Short-term loans therefore can’t be written for 

private individuals who want to purchase property 

for personal use. 

Longer-term buSineSS 

But brokers should not automatically rule 

out writing these loans as part of their 

client proposition. A short-term borrower 

may well soon want to refinance or have 

other borrowing needs – you can help them 

meet these if you establish a solid relationship at 

the outset. 

“You’ve got a good proportion of brokers who 

write residential loans, and that’s all they write,” 

Short-term finance / feature 

says Andrew Littleford, managing director 

of Interim Finance. 

“Pretty much their expertise is quarantined 

in those areas, but if they take the time to 

understand what can be written and how it 

can be written it can be an adjunct to what 

they’re doing.” 

“You wouldn’t be with a short-term loan longer 

than two or three months,” adds Andrew Evans, 

chief executive officer at Australian Investment 

House. “Then, you diversify into all the add-ons 

– the private mortgages, the first and second 

[mortgages], which are cheaper. 

“I try to avoid [the short-term option] and get 

the client a better product by thinking laterally 

– whether I need to go to a six or 12-month 

term, which I can do for about 9.25 per cent per 

annum. The cheaper option for the client is always 

my preference. 

“Know your market, know your clients and 

do the right thing for your client,” he says. “There 

are certain times when people need short-term 

funding, but they’re few and far between as 

opposed to mainstream [funding].” 

branching out / 43

feature / Short-term finance 

“a swift turnaround for the 

loan – which means swift 

payment for the broker – is a 

key benefit of short‑term work” 

fast money 

A swift turnaround for the loan – which means 

swift payment for the broker – is a key benefit of 

short‑term work, Mr Evans says. Typically, payment 

is received within 24 and 48 hours, depending on the 

loan’s nature. 

Brokers normally charge the client a professional 

service fee – generally between one and 1.5 per 

cent of the amount — with the lender paying 

the broker their commission at or very shortly 

after settlement. 

The cost of a short‑term loan to the client, however, 

is often a concern to brokers. “Short‑term lending, by 

any measure, looks expensive – and it is expensive,” 

says Mr Littleford. 

“There are still lenders out there charging fees like 

four or five per cent per month, although their time on 

the planet is coming to an end – ASIC and the other 

regulators are trying to make sure these practices are 

ironed out. 

“There must be a reasonable profit for the lender 

to undertake the transaction but that [lender] doesn’t 

have to be unconscionable in its approach. For 

brokers], it’s just a matter of researching who’s who in 

the zoo and saying, this is a reasonable rate. 

“The products for what the client requires are out 


there at competitive rates,” he says. “It’s not a deal 

they’re going to write every day; it’s a deal they’ll 

write from time to time and [the lender will] need to 

have someone who can say, ‘That for what [the deal] 

is, this is reliable and reasonably priced’.” 

the broker opportunity 

So, would brokers benefit from adding short‑ 

term lending to their customer proposition? 

Kerri Chambers, general manager, operations at 

Rapid Capital believes so. 

“The way the banks are up and down at the 

moment, I believe it’s a good opportunity for 

brokers to look at short‑term lending and it gives 

brokers the chance to give their clients a little bit 

more,” she says. 

“A lot of people don’t know what’s available 

anymore, so people prefer to go to a broker as 

opposed to sitting on the internet doing the research 

themselves. The [average] person doesn’t know who to 

turn to these days. 

“We do quite a lot of marketing to get these people 

to realise you don’t need to lose the deposit on your 

property because the bank’s too slow. Brokers are 

obviously more educated than the regular client, so 

that’s why they are important.”

Which direction will you choose when it 

comes to protecting your clients? 

Call ALI Group today. 

1800 006 776 | www.aligroup.com.au/broker 

Australian Life Insurance Distribution Pty Ltd (ABN 31 103 157 811)

SPECIALIST LENDING 

SOLUTIONS THAT 

HIT THE MARK. 

CONTACT A RESIMAC BDM TODAY ON 1300 RESIMAC 

SALES@RESIMAC.COM.AU | RESIMAC.COM.AU 


RESIMAC leads the way with Specialist 

Lending solutions that help you target niche 

borrower segments and write more business.

Branching Out - Resimac

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