What is Connective SolutionsPlus?
Connective SolutionsPlus is an industry leading broker conversion tool designed to provide you with an alternative loan solution to offer your customer if their needs cannot be met (or easily met) by their first-choice lender.
How does Connective SolutionsPlus work?
In the event your customer’s loan application has been declined, the application will automatically be processed through Connective SolutionsPlus, which will immediately determine eligibility for a Connective Solutions loan solution. Where a Connective Solutions option is available, an Indicative Offer* will be provided to you, setting out an alternative Connective Solutions product, including indicative interest rate, fees and conditions (if any).
Recommended next steps once an Indicative Offer is received:
- REVIEW this Indicative Offer*: Please note, this Indicative Offer* is not an application for credit and has been presented to you as an alternative option, for you to discuss with your customer. The Access Seeker Report is attached for your reference.
- COMPLETE an assessment to ensure serviceability and product suitability based on your customer's requirements and objectives. The suitability of this indicative offer should be reviewed against the other lenders and products included in your initial product comparison.
- DISCUSS the Indicative Offer* with your customer: As part of presenting this offer to your customer, ensure you are complying with all your best interests duty obligations. Be sure to retain a detailed file note as to why you have presented this solution to your customer and explain how the features of the loan product meet your customer needs and requirements.
- CUSTOMER APPROVAL to proceed: If your customer consents to proceed with the indicative offer, complete a product comparison in Mercury Nexus for the Connective Solutions loan product. Generate a new Credit Proposal Disclosure and provide a copy of the document to your customers to review and sign.
- SUBMIT: Clone the original application in ApplyOnline and complete the formal loan application to Connective Solutions using the standard process. Remember to include the Connective SolutionsPlus ID or a copy of Indicative Offer email with your application.
BEST PRACTICE TIP: Set clear expectations with your customer. Ensure they understand that this indicative offer is not a formal approval for funding, instead a potential alternative lender solution to be discussed as part of your product comparison.
How do I access Connective SolutionsPlus
You will need to opt-in to the program to access this tool. Read instructions on how to opt-in here.
Can any broker access Connective SolutionsPlus?
You will need to be accredited with Connective Home Loans Solutions, funded by Pepper to be able to use this tool, as the Indicative Offer is only provided for Connective Solutions products. Visit Mercury to start the simple accreditation process today.