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.

If you did the original lending, there is no extra payment for this as you will already be receiving ongoing trail. Only follow the next part if the client is new to you, otherwise just speak with the client and lock the rates in the 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 ‘mortgageoperations@westpac.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

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

• Converting a portion to revolving

Does not work well for

• Removing LEM

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 ‘mortgageoperations@westpac.co.nz’ (Click for email 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 requesting their rates.

4. Westpac 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 ‘client's rates & cashback’ template. Have them email back and confirm that it is correct.

6. Download the latest ‘Re-fix Request Form’ (correct as of Nov 2023) from MyCRM and complete.

Do note that the clients do not need to sign if the adviser has signed and provided the email trail and declaration.

7. Reply to Westpac’s original email with

• Email trail with client’s confirmation

• Completed Refix Request Form

• If Revolving is requested, credit will need to know that the customer has a full understanding of how this works and why they want it. It is ok to say that the client has funds to put against this and is intending to reduce their repayments.

Your commission will be loaded from there.

This is when you are wanting your client to get the special rates and not the standard rates, either becuase their loan has been paid down, or their property value has increased.

Do note that Westpac cannot simply take off the LEM fee from the client’s rates, the client will need to lock in a new structure, which could include break fees if they are not out of their refix period.

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. Go to Valocity

• Download the clients latest Ival. If this does not give us the required 80% LVR, then try the next bullet point

• Order a desktop valuation. Usually $295. A valuer will not visit the site but will do an assessment remotely. Often these come out at a similar amount to the Ival’s. If that doesn’t work go to the next bullet.

• Order a full valuation for around $1,000. This can be a good option if the property is unusual or extensive renovations have taken place since the purchase.

3. Send an email to ‘mortgageoperations@westpac.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 requesting their rates.

• Copy of Ival/valuation

4. Westpac will reply with new 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 ‘client's rates & cashback’ template. Have them email back and confirm that it is correct.

6. Download the latest Re-Fix Request Form (uploaded correct as of Nov 2023) from MyCRM and complete.

Do note that it is not a requirement for the client to sign if the adviser has signed, provided declaration and email trail.

7. Reply to Westpac’s original email with

• Email trail with clients confirmation

• Refix Request Form

If Revolving is requested, credit will need to know that the customer has a full understanding of how this works and why they want it. It is ok to say that the client has funds to put against this and is intending to reduce their repayments.

Your commission will be loaded from there.