Online Accreditation Platform – RedZed

Loan specialist for the self-employed

Welcome to RedZed’s accreditation platform.

We appreciate your interest in understanding more about our organisation, what we specialise in & how we can help your business.

What to expect

The accreditation will take between 25-30 minutes. If you haven’t got the time to complete the accreditation now, you can return at a time that works for you within the next 10 business days.

How does the accreditation work?

Step 1Verify your details
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Verify details

Let us know if your details have changed or are incorrect.

Step 2Review the accreditation training module
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What is covered?

Introduction to RedZed and our target market.

Introduction to our Residential & Commercial product range.

Overview of key policies.

Responsible Lending guide.

How to lodge an application with RedZed.

Step 3Complete the quiz
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The quiz

There is a short quiz at the end of the training module.

16 correct answers will get you accredited.

Step 4Next steps
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You will receive:

Your accreditation certificate.

Access codes to redzed.com (where you can download the RedZed product guide and other tools).

Your BDM’s contact details.

You will also be contacted by your BDM within 48 hours to discuss any questions.

Who we are

RedZed was founded in 2006 by a team of people that have experienced what it’s like to be self-employed. The drive to find a better way to assist the self-employed segment was behind its creation.

Head office is located in Melbourne with over 80 full-time staff nationally.

We provide rate-for-risk lending solutions ranging from clear credit to mild impairment.

Our products are designed to assist Australia’s self-employed customers meet their personal and business aspirations. We have originated over $4 billion in residential and commercial finance.

RedZed recently agreed to be the major sponsors of the Melbourne Storm rugby league team, showcasing our eagerness to create awareness of the the self-employed in the market.

Our vision
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To be the primary partner empowering the self-employed to liberate their ambitions.

Our strategy
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To deliver outstanding customer experience to the self-employed on their path to success.

Our core values
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Integrity

Pride in execution

Respect relationships

Bold exploration

The opportunity

The self-employed segment is growing and RedZed remains committed to them.

We have a deep understanding of the self-employed customer’s needs and are well positioned to continue to grow.

Click each icon to discover the self-employed market:

Over 2 million self-employed in Australia
Over 60% of self-employed work by themselves (sole operators)
7% of Australian workers are part of the gig economy
35% of self-employed work part-time
1 million independent contractors
15% aged 18 to 64 are engaged in starting or running a new business
8% of Australia's workforce are independent contractors
17% of Australia's workforce are self-employed workers

The opportunity for you

Growth: A rapidly growing sector.

Less Competition: Only 30% of brokers actively participate in this space.

Referrals: Increased referral partner opportunities (accountants/financial planners).

Trust: Become your customer’s trusted credit adviser. Self-employed borrowers are looking for bank manager type relationships that will support them.

Solutions: You’ll be dealing with less transactional clients, and instead deal with solution based clients that aren’t necessarily rate seekers.

Exclusivity: Direct access to RedZed provides you with a product offering specialising in self-employed loans – which more than 80% of your peers don’t have.

 

Residential products overview

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Any person who is self-employed.
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We have a series of products across the risk spectrum starting with SE Prime. All products have variable rates.
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Our loan assessments are based on an applicant's character, credit history, their capacity to repay the loan and the collateral being offered.
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Product pricing is determined by a risk assessment which takes into consideration things such as loan type, repayment type, security and LVR. All products offer full doc & alt doc income verification options.

SE Prime

Policy Guidelines

ABN (GST Registration where required)

≥ 24 months

Maximum Loan* (minimum loan $100k)

$1.5m (max $750k at 85%)

Risk Fee Capitalisation

✓ (not > 85%)

Security Locations

Category 1 & 2

Cash Out (including paying out tax debt)

Contact BDM for >$500K

Vacant Land

Additional security only

Apartments

✓ (Low/Med density)

Development Component
(eg Residual Stock/DA/Best Use/Project Funding)

✗

Credit Criteria

Non financial defaults < $500

✓

Defaults < $1000 (unlimited)

✗

Defaults > 2 years (unlimited)

✗

Other Defaults (ie. > $1000 and < 2 yrs)

✗

Mortgage Arrears (within 6 months)

✗

Unsecured Debt Arrears

✗

Bankruptcy IX/X

✗

Bankruptcy

✗

Reward

Policy Guidelines

ABN (GST Registration where required)

≥ 12 months

Maximum Loan* (minimum loan $100k)

$1.5M

Risk Fee Capitalisation

✓

Security Locations

Category 1 & 2

Cash Out (including paying out tax debt)

Contact BDM for > $250K

Vacant Land

✗

Apartments

✓ (Low/Med density)

Development Component
 (eg Residual Stock/DA/Best Use/Project Funding)

✗

Credit Criteria

Non financial defaults < $500

✓

Defaults < $1000 (unlimited)

✓

Defaults > 2 years (unlimited)

✗

Other Defaults (ie. > $1000 and < 2 yrs)

✗

Mortgage Arrears (within 6 months)

Late 7 days

Unsecured Debt Arrears

✓

Bankruptcy IX/X

✗

Bankruptcy

✗

Recharge

Policy Guidelines

ABN (GST Registration where required)

≥ 12 months

Maximum Loan* (minimum loan $100k)

$1.75M

Risk Fee Capitalisation

✓

Security Locations

All

Cash Out (including paying out tax debt)

Contact BDM for > $250K

Vacant Land (1% rate loading applies)
Cat 1 only max 1 acre. Max $750K up to 65%, Max $600K at 70%

✓

Apartments

✓

Development Component
(eg Residual Stock/DA/Best Use/Project Funding)

May be considered

Credit Criteria

Defaults < $1000 (unlimited)

✓

Defaults > 2 years (unlimited)

✓

Other Defaults (ie. > $1000 and < 2 yrs)

1 (maximum $5K)

Mortgage Arrears (within 6 months)

Late 30 days

Unsecured Debt Arrears

✓

Bankruptcy IX/X

Discharged > 18 months

Bankruptcy

Discharged > 3 years

Refresh

Policy Guidelines

ABN (GST Registration where required)

≥ 12 months

Maximum Loan* (minimum loan $100k)

$750K

Risk Fee Capitalisation

✓

Security Locations

All

Cash Out (including paying out tax debt)

Maximum $100K

Vacant Land

✓

Apartments

✓

Development Component
(eg Residual Stock/DA/Best Use/Project Funding)

May be considered

Credit Criteria

Defaults < $1000 (unlimited)

✓

Defaults > 2 years (unlimited)

✓

Other Defaults (ie. > $1000 and < 2 yrs)

5

Mortgage Arrears (within 6 months)

2

Unsecured Debt Arrears

✓

Bankruptcy IX/X

Discharged 1 day

Bankruptcy

Discharged > 2 years

Commercial product overview

We have designed our commercial products to be simple and easy to understand.

'Set & forget' facilities. There is no requirement for annual reviews.

All products offer full doc & alt doc income verification options.

All applications must be unregulated.

Similar to residential, our commercial offerings are based on our risk assessment.

Acceptable commercial Security

Click each icon below to reveal accepted commercial securities:

 

Offices
Shop fronts
Industrial units
Factories
Warehouse or workshops
Mixed use (shop/residence)
Multiple residential units on one title

Commercial Prime

Policy Guidelines

Maximum Loan* (minimum loan $150K)

$3 million

Loan Terms

15 – 30 years

Interest Only (owner occupied by exception)

5 years

Security Locations

Category 1

Policy Exceptions (an interest rate loading may apply)

Contact RedZed

Annual Reviews

✗

Cash Out (including paying out tax debt)

✓

Credit Criteria

Defaults Allowed (Inc. judgements, writs etc.)

All < $1000

Mortgage Arrears (Within last 6 months)

✗

Bankruptcy (Inc. Part IX or X debt agreements)

✗

Commercial Reset

Policy Guidelines

Maximum Loan* (minimum loan $150K)

$1.5 million

Loan Terms

15 – 30 years

Interest Only (owner occupied by exception)

5 years

Security Locations

Category 1

Policy Exceptions (an interest rate loading may apply)

Contact RedZed

Annual Reviews

✗

Cash Out (including paying out tax debt)

✓

Credit Criteria

Defaults Allowed (Inc. judgements, writs etc.)

All < $1000
All registered > 2 years
Plus up to a maximum of 5 other defaults

Mortgage Arrears (Within last 6 months)

Any late repayments < 30 days

Bankruptcy (Inc. Part IX or X debt agreements)

✗

Alt Doc

Alt Doc refers to alternative verification. It is a term that can often be misinterpreted as Low Doc/No Doc. It is very different:

  • It’s a solution for self employed applicants who may have complex structures and may find it difficult to provide up-to-date financial documentation or can’t supply traditional verification methods.
  • As part of our obligations under Responsible Lending, both Lenders (as Credit Providers) and Brokers (as Credit Assistance Providers) need to make enquiries about an applicant’s income and then take reasonable steps to verify it. This is no different in an Alt Doc scenario.
  • As part of the verification process, we take into consideration things like: type of business, size & location of the business, and what would be considered a reasonable level of income declared.
  • Once an applicant has assessed their income and made an income declaration, we have three standard methods for verifying this income.
Income verification methods
Accountant Verification Method
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(Preferred Option) –  involves the accountant completing the RedZed Accountant Declaration form, followed by a phone call to discuss the income declared and aspects of the applicant’s income. We expect all brokers using our Accountant Declaration to also speak with the accountant as part of their verification obligations.

Business Activity Statements
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A minimum of the two most recent quarter BAS are required. If the business is impacted by seasonality, or it helps better demonstrate the income, we may request four quarters. We do not use a percentage of gross sales method. Instead, we take into consideration the Gross Sales, Non Capital Purchases & Wages.

Business Bank Statements
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A minimum of six months is required, however we may request additional statements if required to adequately verify the income. We take into consideration deposits that represent revenue/turnover, and subtract business related expenses. To verify the declared income, there needs to be either related wage payments or a clear surplus that supports the declared income.

Responsible Lending & Regulatory Obligations

We take our obligations seriously

As a credit provider, we have a set of Responsible Lending & Regulatory Obligations we need to adhere to. We expect that our accredited broker partners will likewise meet these obligations.

In assessing a finance application, RedZed will place particular focus on:

  • Identifying the applicant’s needs & objectives.
  • Adequate enquiry & verification of the applicant’s financial situation (income, fixed commitments and living expenses).
  • A tangible benefit needs to be clearly evident. For example, a cost benefit analysis for a refinance/debt consolidation.
  • Exit strategies (ie. is there a reasonable, demonstrated & clear plan to clear the debt within the term requested).
  • Reasonable expectation that the proposed loan can be repaid without hardship.
  • Know You Customer (KYC) & AML/CTF customer identification (we need to adequately identify all applicants).

In all instances, if RedZed are not comfortable with any of the above or any other matters pertaining to a loan application, we will reserve the right to make additional enquiry until we are satisfied.

Start quiz

*To be accredited with RedZed you must correctly answer 16 questions.

Question 1

You've passed! Click the button below to proceed

How can we help

Lodging an application

  • All the tools that you require to lodge an application with RedZed are available through www.redzed.com
  • RedZed product information can be found on your Aggregator platforms.
  • Completed application form is emailed to us and will be processed within 48 hours.

Application requirements

  • RedZed Signed Application Form
  • RedZed Serviceability Calculator
  • RedZed Customer Identification Checklist
  • Applicant COVID-19 Impact Statement
  • All loan submissions can be emailed to applications@redzed.com
RedZed Rewards

RedZed customers have access to a range of benefits from organisations that offer services they need.

At RedZed, we understand the challenges that come with being self-employed. That’s why we’re here for our customers. We hope the RedZed Rewards make a genuine difference to our customers and their businesses. They’re free, and there’s no catch!

Legal services
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RedZed wants to help your clients keep their individual or business affairs in order. So we have developed an exclusive relationship with the innovative legal services firm Eastern Bridge who are Property & Commercial Law experts.

Together, we are offering you up to two standard wills for FREE! (value of $990)

RedZed does not obtain any legal services from Eastern Bridge. Their focus will be to service your clients in the best manner they can.

Counselling services
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With all of the pressures of being self-employed, your clients may want to get some advice and support from an independent source. We have developed a partnership with Acacia Connection to provide up to four FREE confidential counselling sessions, covering areas such as:

  • 24/7 crisis counselling with qualified Psychologists.
  • Short term solution-focused counselling for work or personal topics of support.
  • Legal referral advice.
  • Qualified financial counsellors.
  • Qualified dietitians.
Marketing services
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RedZed has partnered with Pitstop Marketing to help drive your clients marketing further.

To assist in strengthening their brand, we are offering your clients one of four offerings:

  • Social media recommendations.
  • Search engine optimisation health check.
  • Digital set up.
  • Website recommendations.