Special Offer

Special Offer

Can you ever have too much cash? Well, we do! We’ve had a bunch of loans repaid and now have surplus cash we need to get out the door ASAP.

So not only is this cash ready and waiting to finance your latest client scenario but we’re throwing in some additional goodies to sweeten the deal. How does this sound?

  • Interest rates from 7.95% to 10.95%
  • Up to 70% LVR
  • No serviceability required
  • Settlement within 5 business days

Up to 70% LVR on ‘as is’ major metropolitan residential security.

Only Non-Coded loans are applicable.

T&Cs apply.

We have made a limited allocation available so make sure you take advantage of our special offer now before we stop feeling so sweet. 

Terms & Conditions: Only Non-Coded Loans are applicable. Only applicable for new loans, not for loans already being processed. Five day settlement period only applicable after all required information has been received. 

Launching our 4-Hour Response Guarantee

Private Lending Offer GuaranteeWe know how important it is to get a quick response when applying for a loan. That’s why we’ve launched a ‘4-hour ILOO guarantee‘. If you fill in our Quick App form and provide us with all the required information then we guarantee to respond with an Indicative Letter of Offer within 4 business hours*. If we don’t get back to you within that 4 hour timeframe then we will provide a 50% discount on the assessment fee.

If we have to decline the loan, we will also provide a response within 4 hours. If we are not provided enough information to provide an Indicative Letter of Offer, then we will issue a Quote.

In our recent broker survey nearly 75% of our referrers stated that their clients usually required an Indicative Letter of Offer within two days. We wanted to go even better than that and have worked tirelessly to upgrade our systems to assist our broker network with super-fast turnaround times.

With many SMEs needing urgent finance we’re very proud to be able to offer a service that helps borrowers to get their funding needs sorted efficiently and transparently.

*4 business hours is based on a 9am – 5pm Melbourne business day. 

 

Introducing our new Relationship Manager

Joel PeterPlease join us in welcoming our new Relationship Manager – Joel Peter!

Joel has spent around eight years working in the banks in Australia and New Zealand, primarily in lending. He has also worked as a broker so understands the challenges that brokers face.

As Relationship Manager, Joel will be building relationships with referrers and educating them on PMA’s suite of solutions. He’ll also be able to workshop potential scenarios with referrers and source suitable opportunities to assist referrers close deals.

Joel is particularly looking forward to helping brokers and borrowers to find solutions for a situation where they would otherwise have otherwise lost an opportunity.

A fun-fact about Joel, he loves basketball and the NBA. His guilty pleasure is watching and listening to NBA broadcasters and podcasters debate what is currently going on in the NBA and says his favourite basketball moment was the buzzer-beater shot from the Toronto Raptors’ Kawhai Leonards to win over the 76ers in last years’ Eastern Conference playoffs. You can check out that moment here.

If you have any questions for Joel you can contact him on 03 8370 7081 or [email protected]privatemortgagesaustralia.com.au.

 

 

 

Meet the PMA Team

We have come a long way since we launched PMA five years ago! We’ve grown from a two man band into a company with nine employees and new hires on their way. After receiving $100M in institutional backing earlier in the year we are excited to have the opportunity to further build the business and deliver even better products and service to our clients. Find out a bit more about the wonderful people at PMA and read a little known fact about each of the members of the team. 

Tony Barbone is Managing Director of Private Mortgages Australia

Tony Barbone
Managing Director

Tony began his career as a private lender in 2009 when he started lending money to business borrowers using his own capital and on behalf of high-net-worth investors. Tony now leads the team of professionals at Private Mortgages Australia Pty Ltd arranging short-term finance for business borrowers. Tony’s specialises in Registered First and Second Mortgages and Construction Finance.

Random fact about Tony: He has a double crown 

 

Tim Hart is Director at Private Mortgages Australia

Tim Hart
Director

As Director at Private Mortgages Australia, Tim is responsible for leading the team alongside fellow founder Tony Barbone.

Tim has been a full-time investor since 2006. He has completed a multitude of investments in residential real estate, commercial property and private lending in this time. His web-based software system, Property Investor System, is the most comprehensive of its kind in Australia.

Random fact about Tim: When he was 10 he was the partner in a recycling business.

 

Peter Cuskelly is General Manager at Private Mortgages AustraliaPeter Cuskelly
General Manager
Peter joined Private Mortgages Australia in 2015 to take on the role of Credit Manager and now holds the position of General Manager. He has a wealth of experience in credit across all types of lending including commercial, agribusiness, mortgage and personal clients.  Prior to joining PMA he was a mortgage broker with Full Circle Financial Group where he offered individual and commercial clients tailored finance options to suit their needs. He has also worked with a number of large institutions including ANZ and Commonwealth Bank. Peter’s passion is working with clients to provide innovative and cost effective solutions whilst maintaining acceptable levels of risk.

Random fact about Peter: His grandfather was a jockey.

 

Julie Ciccone is the Business Development Manager at Private Mortgages AustraliaJulie Ciccone
Business Development Manager
As the Business Development Management at Private Mortgages Australia, Julie is responsible for building relationships with brokers and educating them about the services we are able to provide. She has experience working with borrowers particularly developers that require finance for the purchase of land, property and/or construction including draw down of equity. Julie is passionate about communicating the benefits of working with a private lender to referrers and making sure we’re able to deliver the best results for their clients.
Random fact about Julie: She used to have a children’s clothing business in North Essendon. 

 

Shanta Lobo is Senior Relationship Manager at Private Mortgages AustraliaShanta Lobo
Senior Relationship Manager
Shanta joined Private Mortgages Australia in 2017 as Senior Relationship Manager. Shanta has over 20 years’ experience in lending including consumer, commercial, cash flow and trade finance.
Prior to joining Private Mortgages Australia, Shanta was a Business Banking Manager with NAB. She has also worked at Suncorp Bank and CBA in similar roles. She is experienced in risk assessment and risk management. Shanta enjoys customer interaction and helping businesses achieve their goals and budgets by structuring their cash flow and lending requirements effectively.
Random fact about Shanta: She was once a school teacher. 

 

Anna Sanchez
Financial Controller
Anna is a diversified professional who has extensive experience in the fields of accounting, book-keeping, account management and sales. She has a broad knowledge of the financial services industry and has worked with clients across the a wide spectrum including trading, manufacturing and information technology.
Random fact about Anna: She was once was once an active girl scout and cadet officer in high school.

 

Erica Cabanilla is in the role of Credit Support at Private Mortgages Australia.Erica Cabanilla
Credit Support
Erica is a highly skilled administration professional with six years’ hands-on experience in diverse office environments. She is knowledgeable in current industry trends and technology. She understands the needs of a company and can provide them exceptional results through a flexible and intelligent approach. At Private Mortgages Australia, she is responsible for conducting initial credit assessments, bookkeeping and database management.
Random fact about Erica: She can watch Starwars non-stop from Episode 1 to 6.

 

Lauren Taylor is the Head of Marketing and Communications at Private Mortgages AustraliaLauren Taylor
Head of Marketing and Communications
Lauren is a well-respected marketing professional with 10 years’ experience in both Sydney and London. She has worked for an extensive list of companies from all sectors including corporate, technology, consumer and digital. At Private Mortgages Australia she is responsible for disseminating information to our broker audience through our social media platforms, website and e-newsletter.
Random fact about Lauren: She used to have a pet cow called Austin. 

Private Mortgages Australia Secures $100M Institutional Backing

The Private Mortgages Australia team

The PMA team: Shanta Lobo (Senior Relationship Manager), Tony Barbone (Managing Director), Tim Hart (Director), Julie Ciccone (Business Development Manager) and Peter Cuskelly (General Manager).

Funding enables larger loan amounts and more competitive interest rates

 30 May 2019: An independent wholesale funder has committed to investing up to $100 million with specialist commercial mortgage manager Private Mortgages Australia to fund its portfolio of registered first mortgage loans secured by Australian property.

The investment will enable PMA to grow the number of loans they are able to service and will see the maximum loan amount increase from $2 million to $10 million on registered first mortgages. It has also allowed PMA to offer more competitive interest rates with their base rate now at 9% per annum for applicable loans.

“We expect that the changes to loan amounts and interest rates will attract a wider pool of borrowers and will help grow the business exponentially in the next few years,” said Barbone. “More and more of our referrers are coming to us looking for a more flexible lending solutions after their clients haven’t been able to obtain funding from the banks, so it’s great that we will be able to help even more of them now.”

Private Mortgages Australia, which specialises in short-term loans for small-to-medium businesses, has recently seen a marked increase in the number of borrowers coming to them for finance after being turned down by the banks. This funding will help the national lender to accelerate the growth of its lending business to Australian SMEs and developers.

“Receiving this level of backing is a landmark achievement for Private Mortgages Australia, our borrowers and referrers,” said PMA Managing Director, Tony Barbone. “Our backers clearly believe we are a leader in this space and have confidence in our business model to provide fast and flexible finance to our SME and developer clients. We’re just about to celebrate our fifth year in operation and are excited to have the opportunity to further build the business and deliver even better products and service to our clients.”

Q&A with Shanta Lobo – Senior Relationship Manager

Shanta is Senior Relationship Manager LendingShanta Lobo recently joined Private Mortgages Australia in the role of Senior Relationship Manager. We thought we’d take the opportunity to find out from Shanta herself what’s involved in her role and how she can help clients with short-term business finance.

1. What made you decide to join PMA?

Having been a career banker, with a history of 20 years in commercial business banking, I wanted to try something different that also complemented my experience and expertise. The role with PMA was able to offer me just that. The Senior Relationship Manager role is challenging because it’s a new environment but maintains the basic functions of a commercial lender.

2. What are you looking forward to most in this role?

I’m looking forward to learning more about the private mortgage space and working out ways to help small-to-medium businesses with their borrowing needs. I’m also excited about establishing relationships with brokers and helping to educate them about the various ways we can help their clients.

3. What do you think the key benefits of working with a private lender are?

This is lending at a grass roots level. We’re helping clients based on their individual needs and providing realistic lending solutions. The best thing is that we’re able to think outside the square and structure deals very differently to banks in order to provide more practical options for businesses.

4. What do you bring specifically to the PMA team?

With my background in business banking I bring a thorough understanding of business requirements. I have extensive knowledge relating to interpreting financials, financial projections and security structure. I also have a great network of brokers and referrers that I’m looking forward to working with in the future.

5. What makes PMA different to other lenders?

PMA recently made the decision to increase our maximum LVR to 80%. Most private lenders will generally only lend 65% to 70% LVR, and a lot of the time this is based on a forced-sale valuation rather than the true value of the security property. We always take the true value of the security property without any tricks in order to give our borrowers a better solution.

We’ve also introduced a ‘subsequent referral fee’ in order to eliminate channel conflict. This means we still pay a referrer should a borrower come back to PMA directly after taking a previous loan with us via a referrer.

At PMA we’re all about having a transparent lending process that offers greater flexibility and quicker turnarounds than traditional lenders so that a business can get the best solution.

6. What do you think is most important when maintaining good relationships with brokers/referrers?

Listening to client or referrer and understanding their requirements is absolutely paramount. Taking the time to ask questions and fully understand their individual circumstances makes the rest of the process so much simpler. It’s also important to provide prompt responses and to make quick lending decisions. Overall, by providing solutions that work for the client ensures a smooth process that everyone is happy with.

7. PMA doubled its new loan volume last financial year, why do you think this is?

I think it comes down to great service and delivering great results. We receive a lot of return business which is pretty rare in private lending but it’s something we’re extremely proud of. We’ve found that the great relationship we have with brokers means that they spread the word to other brokers in their network.

8. What are you aiming to achieve at PMA?

I’m hoping to get in touch with as many brokers as possible to find out more about their clients’ needs and educate them about what PMA is able to provide. I also think it’s important to establish a good relationship with the client directly and make them comfortable whilst maintaining a good relationship with the broker.

I’m aiming to always provide prompt and efficient lending solutions and keep on top of the entire lending process through to settlement.

 

To speak to Shanta about your business finance needs get in touch with her on 03 8488 9926 or 

[email protected]

 

PMA’s 2017 In Review

What a year it’s been for Private Mortgages Australia! We’ve had some standout moments in 2017 including:Private Mortgages Australia celebrates some stellar moments in 2017

  • Doubling our new loan volume in the 12 months leading up to our third birthday in July
  • Raising our maximum LVR to 80%
  • Taking a stand to put an end to channel conflict.

We’ve also continued to grow our team with new hires, hosted well-attended webinars and increased our Referrer Remuneration and Referrer Rewards. Here’s a bit more information about the highlights of 2017:

Doubling our Loan Book

In 2017 we saw our new loans grow by 115%, doubling our volume.  We’re so impressed that we’ve been able to maintain this growth (in our second year we increased our loan volume by 151%) – we definitely have our database of 3,000 brokers and referrers to thank for this.

We’ve put this success down the ever-increasing number of small-to-medium businesses needing access to commercial funding who can’t get it from the banks. It’s also been great to see so many brokers diversifying into the commercial space to work with these businesses.

We’re expecting a further 50% increase in the number of settled loans in the current financial year and are already well on track to achieve this.

LVR Increase

In the second half of this year we decided to raise our maximum LVR to 80%. The decision comes after we partnered with Property Predictions Pty Ltd, the creator of patented methodologies which measure demand trends and predict expected changes in prices across the Australian property market.

Most private lenders will generally only lend 65% to 70% LVR, and a lot of the time this is based on a forced-sale valuation rather than the true value of the security property. We always take the true value of the security property without any tricks in order to give our borrowers a better solution. The Traffic Light Reports from Property Predictions employ predictive and patented algorithms developed by leading property market analyst, John Lindeman, to provide highly accurate short term rent and price change predictions for houses and units in any suburb in Australia.

Combatting Channel Conflict

A recent survey conducted by The Adviser found that 78 per cent of brokers had lost a client as a result of channel conflict. It appears to be a growing concern with 88 per cent more worried about channel conflict than they were 12 months ago.

We receive over 90 per cent of our business from broker referrals and we want to keep it that way. That’s why we decided to make changes to our referral fee structure to alleviate any concerns from our broker partners about channel conflict.

We’ve now introduced a ‘subsequent referral fee’ which is paid to the referrer should a borrower come back to PMA directly after taking a previous loan with us via a referrer. We get a lot of repeat clients (which is uncommon in private lending) so we believe we’ve got to be doing something right. We want to reward referrers for providing us with a good lead and will continue to do so no matter how many times that client comes back to us directly. It’s basically free money for our referrers but we believe they deserve it. All referrer fees are paid within 24 hours of settlement with no clawbacks.

Finally, we’d like to take this opportunity to wish all of our supporters a very merry Christmas! It’s an extremely busy time for us and we’ll be working right up until Christmas Day in order to help any borrowers who need finance before the end of the year. If you have any commercial finance needs please get in touch.

MERRY CHRISTMAS!

Private Mortgages Australia raises maximum LVR to 80%

Specialist commercial lender, Private Mortgages Australia, today announced that it has raised its maximum LVR to 80%. The decision comes after the private lender partnered with Property Predictions Pty Ltd, the creator of patented methodologies which measure demand trends and predict expected changes in prices across the Australian property market.

“Having access to these Traffic Light Reports from Property Predictions gives us confidence to offer a higher LVR to borrowers who are looking to secure finance against properties in those suburbs,” said Tony Barbone, Managing Director of Private Mortgages Australia.

“Most private lenders will generally only lend 65% to 70% LVR, and a lot of the time this is based on a forced-sale valuation rather than the true value of the security property. We always take the true value of the security property without any tricks in order to give our borrowers a better solution.”

The Traffic Light Reports from Property Predictions employ predictive and patented algorithms developed by leading property market analyst, John Lindeman to provide highly accurate short term rent and price change predictions for houses and units in any suburb in Australia.

“It’s great that PMA is able to use the insights from our Traffic Light Reports to offer better solutions to their borrowers,” Lindeman said. “The predictive software we use gives them the confidence to back the borrower and increase the maximum LVR to 80% in selected suburbs. It creates a win-win situation for both PMA and the borrower.”

PMA puts a stop to channel conflict

Channel conflict: PMA moves to stop channel conflictA recent survey conducted by The Adviser found that 78 per cent of brokers had lost a client as a result of channel conflict. It appears to be a growing concern with 88 per cent more worried about channel conflict than they were 12 months ago. Over 93 per cent of brokers cited the major banks as their biggest concern and 74 per cent of brokers said channel conflict would influence which lenders they recommend to clients over the coming 12 months.

Private Mortgages Australia receives over 90 per cent of our business from broker referrals and we want to keep it that way. That is why we’ve decided to make changes to our referral fee structure to alleviate any concerns from our broker partners about channel conflict.

We’ve now introduced a ‘subsequent referral fee’ which is paid to the referrer should a borrower comes back to PMA directly after taking a previous loan with us via a referrer. We get a lot of repeat clients (which is uncommon in private lending) so we believe we’ve got to be doing something right. We want to reward referrers for providing us with a good lead and will continue to do so no matter how many times that client comes back to us directly. It’s basically free money for our referrers but we believe they deserve it. All referrer fees are paid within 24 hours of settlement with no clawbacks.

Of course, we do have some conditions around this. For instance, if a client comes back for a subsequent loan via a new referrer with an updated client mandate, PMA will always pay the new referrer based on the client’s updated direction to pay.

To find out more about the referral fees, interest rates and LVRs you can view a copy of our Referrer pack here.

PMA has also introduced a Referrer Reward program to show our appreciation for the great work our referrers do. As part of the program, the value of all transactions settled with PMA will count towards your referrer rewards total and each time you reach a referrer milestone you will receive a reward from PMA – think a nice bottle of Grange, flights, shopping vouchers and much more. Each time you reach a new milestone we’ll have a bigger and better reward for you.

To find out more about the rewards milestones, visit the Referrer page on our website here.

PMA doubles yearly loan volume

Private Mortgages Australia doubles loan book Specialist commercial lender Private Mortgages Australia (PMA) has celebrated three years in business by doubling its volume of newly settled loans over the past financial year.

PMA managing director Tony Barbone said the firm’s success was a result of an increase in small-to-medium businesses needing alternatives to the banks.

“We’ve had so many brokers and referrers come to us with clients who have been turned down by the banks. While serviceability is the greatest concern for banks, we are primarily focussed on securing the loan using property equity which allows us to be a lot more flexible.”

While Barbone was reluctant to mention the specific size of PMA’s loan book, it had increased by 151% in its second year and then a further 115% in its third, most recent year, he told Australian Broker. PMA was first established in 2014.

“We’re so impressed that we’ve been able to maintain this growth and double our loan volume year on year. We definitely have our brokers and referrers to thank for this.”

Barbone said he had also noticed an increase in the number of brokers diversifying into the commercial lending sector.

“It’s great that brokers are starting to see the benefits of working with small-to-medium businesses as there are so many who struggle to access funding when it is readily available from non-bank lenders.”

PMA currently has over 3,000 brokers in its database with an increasing number referring commercial loans to the lender, Barbone said.

“We’ve found that educating brokers about commercial loans via our regular webinars has helped us continually grow the number of referrers that come us.”

The directors of PMA expect a further 50% increase in the number of settled loans in the coming financial year.

The firm has recently focused on reducing channel conflict by bringing in ‘subsequent referral fees’ to referrer clients who approach PMA directly for additional loans. The firm has also amended its Referrer Rewards Program to make obtaining rewards simpler when referrers introduce clients to the lender.

“We have now become ‘channel agnostic’ whereby a borrower pays the same approval fee if they come direct to us or through a broker. We also allow our brokers to add a service fee or mandate,” Barbone said.

“We have also added a new policy whereby if a broker sends us a client, that client takes out a loan and then that same client comes back to us directly for another loan we will still pay the broker a referral fee.”

It’s important to respect the fact that these individuals are all broker clients, he added, especially since more than 90% of PMA’s loans come from the third party channel.

Posted on Australian Broker