Private Mortgages Australia: The Lending Process

18/09/2023

How PMA’s Loan Application Works

Private Mortgages Australia (PMA) specialises in short-term, flexible loans for commercial clients. If you are a small business owner or a finance professional (e.g. broker, accountant or financial planner) with a commercial client needing fast, finance solutions for a genuine business purpose, then PMA may be of help.

Submit a quick app form

The first step in the application process is to submit a Quick App form. SME owners and property developers may submit an application directly, while finance professionals may submit for their clients.

Have a scenario you want to discuss?

PMA sign up

Submit a quick app form
Response time in just 4 business hours.
We'll gladly assist you and let you know if we can be of help.

Quick App (<10mins)

How PMA’s Loan Application Works It takes less than 10 mins to fill out the Quick App form. PMA has an average response time of 4 business hours upon submission.

Indicative Letter of Offer (ILOO)

Once a Quick Application is received a PMA staff member will contact you. The terms on the ILOO is based on the details given in the Quick App form. The ILOO will include the indicative interest rate and will be sent to the submitter for review.
If the ILOO is accepted y the applicant, a small assessment fee will be charged.

Letter of Offer

PMA’s credit team conducts due diligence to evaluate the feasibility of the loan. It is in the due diligence process when valuation is completed to enable us to make decisions on the loan amount, ideal loan-to-value-ratio (LVR), and final interest rate.

Once the due diligence process is complete, we issue the formal Letter of Offer for the applicant's acceptance.

Settlement

If the applicant accepts the terms in the letter of offer, settlement can be reached. The approval fee, prepaid interest and legal costs are deducted from the loan.

Upon successful settlement the referrer is paid within 1 business day of settlement with no clawbacks.

We at PMA value fast service to our clients. Loan settlement can be reached as early as 5 business days after receiving all requested documents for due diligence including valuation.