Frequently Asked Questions
- I'm self employed. Am I still eligible for a home loan with Professional Mortgage Providers?
Absolutely. Contact us now on 1300 552 755 to talk about applying for a loan with PMP.
If you have two years financials then this is what we will need. Otherwise you are able to complete a Lo Doc declaration stating your income. In some cases you may need to provide BAS and Trading account bank statements.
- What Kind of Documentation do I need to present Professional Mortgage Providers to apply for a loan?
While the documentation you will need will depend on the type of loan you are getting, and your own individual situation, here are the things you will DEFINITELY need to apply for a loan with us:
• Your latest 2 payslips
• Your last Group Certificate
• 100 points of identification AML/CTF certified
• Employment details
• If you’re self-employed: Last 2 years Business/Company Tax returns (including Profit & Loss)
• Self Employed Lo Doc declaration of income if you do not have last two years financials.
• Client Needs Analysis to ensure that we are providing you with products that suit your situation now and in the future.
You could also complete the PMP Home Loan Enquiry form to find out what PMP can do for you upfront without going through completing an entire home loan application
- How much can I borrow?
With PMP, you can borrow up to 95% of the purchase price. Plus, we offer a range of No Doc and Lo Doc loans, which means that you can borrow with the minimum documentation.
PMP offers residential and commercial loans, plus personal finance for cars, business leases for vehicles, trucks and equipment and much more!
Use our calculator How Much can I borrow to find out approximately what you can borrow!
- What is a Repayment Holiday?
We all know that life is full of surprises—that’s why traditional loans make very little sense in your everyday life.
Your family situation, work life and career can change in a second, and you need extra funds to support that change.
With a repayment holiday from Professional Mortgage Providers, you can let the interest repayments on your mortgage capitalise, which means you can free up some extra cash when you need it.
Whether it’s a wedding, a new baby, renovations or a vacation, PMP’s repayment holiday gives you the flexibility to make your loan and your life work together.
- What about repayments?
Part of the loans process is helping you prepare to pay the loan back—simply.
Ask about our options for salary crediting and direct debit that will help you get your payments out of the way quickly each week, fornight or month
- Is it better to borrow from a Mortgage Manager or a bank?
Obviously, everyone is different. Whether you borrow from a bank or a mortgage manager is entirely dependent on what you are looking for in a loan. Non banks and mortgage managers have the same features and flexibility as a bank home loan or mortgage.
Having said that, there ARE significant benefits to borrowing with a mortgage manager.
For example, because mortgage managers borrow money in bulk and tend to have lower overheads, they can pass on very competitive rates to borrowers.
Plus, unlike many traditional banks, mortgage managers also offer enhanced loan features—such as more flexible repayment options, repayment holidays and redraw facilities.
Personalised service is what we are all about. If you are used to the service you are getting from your current lender try Professional Mortgage Providers you will find that we constantly exceed your expectations.
- Professional Mortgage Providers describes themselves as a "Mortgage Manager", what is a Mortgage Manager?
A mortgage manager is a non-bank financial institution. Along with PMP, other mortgage managers include RESI, Aussie Home Loans.
Mortgage managers source money from wholesale lenders such as Advantedge (NAB), Resimac, ING, and big superannuation funds and large investment funds. In turn, that lender authorises the mortgage manager to distribute and manage a client’s mortgage until it is discharged.
