Professional Home Loan Group Pty Ltd are licenced mortgage brokers. As mortgage brokers we receive a commission from lenders for introducing customers to them. The lenders usually place a provision on the commission payment called “Clawback” which means that if the loan is repaid within a certain period of time Professional Home Loan Group Pty Ltd is obliged to repay the commission paid to us. Our business runs on a commission sharing model which means we will pay you up to 70% of the net upfront commission received by us less GST.

Refund Amount
The “How Much is My Refund” calculator is to be used as a guide and the amounts could alter depending on the type of home loan you choose for example “Line of Credit” loans could attract a lower commission rate than other types of home loans. Professional Home Loan Group Pty Ltd will pay your share direct to you via bank transfer within 30 days of receiving the commission from our Lenders or Aggregator. Our Lenders and Aggregator usually make payment 30 to 60 days after settlement of your loan. The commission refund amount will be 50% of the net upfront commission we receive less GST for first time customers and up to 70% of the net upfront commission we receive less GST for existing customers with total loan amounts above 2 million.  Less than 2 million with attract the 50% rebate. Net upfront commission is defined as gross commission paid by the lender less 10% aggregator split.  Loan amounts that are used to calculate commission rebates on are defined as net or any offset or redraw facility as banks now pay commission on the net loan amount.

Provision for Clawback
If you repay the loan within 2 years of settlement you are obliged to refund to us ALL commissions received by you from us arising out of this contract. You are also obliged to repay us all commissions received by you if you default on any payments or any other event that would trigger a clawback from the lender. At our discretion we may withhold or make progress payments of the commission to you if the loan is considered to be a high risk for clawback such as line of credit or loans with a high level of “cash out” but not limited to these.

Your Obligations
You are required to notify us immediately of any intention to default the loan contract for any reason including repaying the loan in full by refinancing or the sale of a property but not limited to these. You are also required to notify us immediately if you intend to make any lump sum payments into the loan that could possibly trigger a clawback.
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