Broker Insight from Bankwest

We got to speak to Ian Rakhit, Bankwest General Manager Third Party about how he actually talks to brokers on the phone (like Lui Nguyen) to have credit re-examine a deal. Actions like this understandably wins him (and Bankwest) fans on Finance and Coffee. So we took the opportunity to ask him what does he really think of F&C? and whether Finance and Coffee are helpful to Bankwest?

Onto more serious matters we also spoke about a few things that appear to cause Brokers concern on F&C.

Topics covered:

o   Rest and recharge over the break – Bankwest EAP for brokers

o   Gold rated commission structure: best clawback model in the market with flexibility after day 14 to pay a new upfront for large drawdowns.

o   Simple self-employed policy: Simplified our document requirements for self-employed customers and improved our policy for customers who pay themselves a salary.

o   Improvement for investors: Changed our serviceability assessments around rental income ‘haircuts’ to increase borrowing power for investors.

o   New digital tools co-built with brokers: Continued to invest in our digital tools such as DocBox, our bespoke tool, designed for you to upload your customer’s documents quickly, easily and securely.

o   Hints towards what brokers can expect from Bankwest in 2024.

 

Jump into the group to watch the whole video here: https://www.facebook.com/groups/financeandcoffee/permalink/2512787855594844