SBS Refix Process

Adviser Reward: $150

Available 60 days before refix date (yes, more than reserving a rate on a new loan)

Interest only or revolving is a full application

  • Works for

    • Simple Refix, same loan structure

    Does not work for

    • Restructure

    • Converting portions to revolving

    If your client is within 60 days of refix, they should be able to access their offered rates via their mobile app.

    This method is by far the best.

    1. Ask the client to sign your declaration, if they haven’t done already. If you did their original lending, you may not need this.

    2. Ask the client to go on online banking and read out the rates offered. Discuss with the client and come to an agreement.

    3. The client confirms via the app

    4. Send the client an email outlining why you recommended the option you decided on together. Ask them to reply to this saying that they agree with your assessment and recommendation.

    5. Send an email to ‘brokerunit@sbsbank.co.nz’ (Click for template), with the following items included.

    • Signed Declaration dated within the last 30 days

    • Identifying info for the client (Full name, Customer number or loan number)

    • Copy of email trail with client

    • include ‘please load for commission’ in your email.

    Your commission will be loaded from there.

  • Sometimes Method 1 is not possible as the client needs to restructure.

    Works well for

    • Refixing and restructuring

    1. Ask the client to sign your declaration, if they haven’t done already.

    2. Ask the client to provide an identifying reference number, for example customer number or a loan account number.

    3. Send an email to ‘brokerunit@sbsbank.co.nz’ (Click for template), with the following items included.

    • Signed Declaration

    • Identifying info for the client (Full name, Customer number or loan number)

    • Copy of email trail with client requesting their rates.

    4. SBS will reply with rates, loan structure and pricing. Discuss with your client and come up with the recommended new loan structure.

    5. Send this loan structure to the client using the shared templates ‘clients rates & cashback’ template. Have them email back and confirm that it is correct.

    6. Reply to SBS’s original email with

    • Email trail with client’s confirmation

    • Clearly written and detailed loan structure request outlining each split. There is no specific form for this.

    Your commission will be loaded from there.

  • This should not be an issue as the only over 80% that SBS does is Kainga Ora First Home Loan.