Broker Buddy

This app is specifically designed for Mortgage Brokers in Australia. This is essentially a scenario tool that can deliver multiple lender policy in a few seconds. The app will not function until you have provided a current ACL or ACR number and your Aggregator details.

What information will be available in the app?

• General Policy • Maximum LVR • Family Equity/Guarantor lending • Serviceability • Acceptable Income • Low Doc Policy • Acceptable Security • Construction • Bridging Loans

The app will substantially reduce the amount of time a broker spends waiting on scenario lines and BDMs to clarify something as simple as the max LVR for Interest Only Investment Loans or how old do children need to be to be able to use 100% of Family Tax Benefit income in servicing or how much of bonus income can be used and how much evidence is required to use it. These examples are fairly common and this app can cope with more than 100 separate policies.

Are all lenders in the app?

No. While we have an extensive panel of policy at the moment we don’t have access to all lenders and therefore we haven’t included them at this stage. We do however have the policy for 18 lenders including the big 4, their subsidiaries, smaller building societies and credit unions. If the app gets the traction we expect then lenders will be added over time.

Prior to any results being delivered the user needs to accept the following: “Broker Buddy has compiled a list of likely lenders who would consider this scenario. We have not collected any information on your client, nor have we validated any of the information that would need to be submitted with the application to the lender. The shortlist is a recommendation only and we suggest that you confirm the scenario with the lender prior to submission. You accept that a successful application is based on a wide range of criteria and that while the application may meet the policy metrics this does not always result in approval.”

By downloading this and registering you will receive 14 days of full access. Once your 14 days are up, you will need to purchase a Subscription to continue using Broker Buddy, and this will unlock all Policies and Lenders.