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Vow grows lender panel

by James Mitchell8 minute read
The Adviser

Vow Financial has announced that a specialist mortgage manager has joined its growing panel of lenders.

Resicom is the latest lender to join Vow's national distribution network and has already seen immediate success in the first two months of 2015.

The lender was initially on a trial from September to December last year in WA and Victoria, but as of January was made available to Vow brokers nationwide.

A mortgage manager of residential, commercial and private lending products, Resicom deals with brokers on a national scale and has since seen a large influx of business thanks to both its residential and commercial lending products.

“This appointment is a huge step for us as a business and I believe a huge one for Vow to place a mortgage manager on the panel that has such a niche service proposition – truly ahead of their game in providing solutions and options for their brokers,” Resicom director Stephen Mitchell told The Adviser.

“Vow is our biggest appointment yet,” he said.

Resicom specialises in the low-doc and specialist-impaired market, heavily weighted toward business lending on all residential and commercial loans. It also offers refinancing for tax debts as well as unlimited cash withdrawals.

“We work very closely with our brokers and see them as partners to our business, we hold their hand as much as needed so that they can be comfortable writing deals in our space,” Mr Mitchell said.

Resicom works closely with brokers to build relationships with accountants and other referral partners.

“We understand that the majority of the market writes clean credit home loans most of the time, and we are there to assist them in writing and finding impaired and low-doc/business loans,” Mr Mitchell said.

Justin Delanty, managing director of Lending4U, has used Resicom recently for a number of trickier scenarios involving credit-impaired clients and also some low-doc lending with just an accountant's letter.

“As we all know, these types of loans tend to take up a lot more of your time, and for this additional work, you can charge a mandate easily,” Mr Dalanty said.

“The service that Stephen, Kirk, Jonathan and all the team at Resicom provide is second to none,” he said.

“Once the loan is submitted they take total control of the process following up any small details that credit may require.”

[Related: Vow signs former NAB commercial banker]

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