- Loan Purpose
- Personal Details
- Assets and Liabilities
- Monthly Budget & Expenditure
| || |
Joint Applicant Details
Statement of Assets and Liabilities (as at Date of Application)
|Paid in full each month||Motor Vehicles|
|Paid in full each month||$|
|Hire Purchase||$||$||Real Estate/Property|
Total Assets (A)
Other Finance(e.g. Government Student Loan, Family Loan, etc)
Less Total Liabilities (L)
Total Liabilities (L)
Surplus / Deficit (A-L)
Proposed Monthly Budget & Expenditure
B) Total Repayments
|Rent/boarder 1||$||Per Week||$|
|$||Rent/boarder 2||$||Per Week||$|
|$||Rent/boarder 3||$||Per Week||$|
|$||Other Source of income||$|
|$||Other Source of income||$|
Total Combined Monthly Income (I)
C) Total Living Expenses
Less Total Monthly Expenses (E)
Uncommitted Income (I-E)
|$||Are you a guarantor for any other loans?|
|$||If Yes, please give details below.|
D) Total Other Expenses
E) Total Monthly Expenses (B+C+D)
Terms and Conditions
Mandate Agreement & Authority & Declaration by Applicant(s)
In this statement singular terms (such as “I” “me” and“my”) include the plural (“we”“us”and “our”) whereappropriate. Terms: “Adviser” means the person and/or firm who is attempting to arrange mortgage finance on your behalf. “Lender’ includes a prospective lender from who the broker seeks mortgage finance on your behalf, and includes bank, finance companies, lender's mortgage insurers and all other financial institutions and financing sources.
I/we give Promor Ltd the express authority to act on my behalf with all lenders and associated parties in respect of obtaining a home loan eligibility and/or risk product associated with this application. I/We understand that the Adviser provides a mortgage consultancy service for their clients requiring mortgage finance secured (generally, but not exclusively) by residential property and this service is supported by Promor Ltd. Further, I understand that the Adviser does no charge me for services (unless applicants terminate the existing mortgage term for whatever reason within 27 months from the drawdown date, then the applicants need to pay for the adviser fees within 3 days, exact amount will indicate by adviser, if the applicants do not pay the adviser fees then the applicants agree Promor Limited to put a caveat loan on any of the applicants properties or assets, or Promor Limited can arrange a debt collection agency to collection the adviser fees to cover the loss of the adviser fees in all respects and any other fees occurred in this process will be adding to applicants total debt owed by us), but receives a commission or brokerage fee from the Lender providing the loan. The Adviser is not an employee, agent, partner, nor, joint venture partner of, nor does the Adviser act on behalf of, the Lender. I/We authorise the Adviser or Promor Ltd to disclose the information in this application to any lending institution (referred to as the Lender), and for any Lender to use and reply upon the information in this application. We also authorise the Adviser or Promor Ltd to disclose information from this application to its insurance provider to obtain risk assessment quotes or active policies as required by me. If my application is successful, I understand that the information will be used by the Lender for the purpose of administering the loan, and by the Lender, the Adviser and Promor Ltd for administering any ongoing commission payments to the Advisor or Promor Ltd. If Promor Ltd has an arrangement with the Lender, that the Lender will pay an ongoing commission over the term of my loan, the Lender will periodically disclose the loan balance to Promor Ltd and the Advisor.
I acknowledge that I/We have been provided with and understand my copy of the Adviser's personal
Disclosure Statement and Scope of Service.
By completing this form, I/we:
1. Are not less than 18 years of age and I/We are not undischarged bankrupts or liable under any proceedings under the Insolvency Act 1967 or its amendments.
2. Certify that the information provided by me/us in this application is true and correct, and that the answers to the questions made herein correctly reflect the financial and employment position of me/us at this date and that no information has been withheld that might affect a lender decision to provide credit to me/us.
3. Undertake to pay the following costs (if applicable)
a. Any fees charged by the Lender.
b. Any holding interest accruing until some or the entire loan monies are uplifted or until the Lender is advised that funds are not required.
c. All costs associated with the execution and registration of any security required by the Lender, and
d. All costs associated with the removal of such security when the loan is repaid
e. All costs associated with obtaining any registered valuation required by the Lender.
f. All costs associated with and agreed for work completed by the Adviser as stated in the Scope of Service.
4. Understand that the Lender accepts no responsibility for the value of condition of the property used/to be used as security for this loan, or whether it is suitable for my/our purposes, by reason of having carried out an inspection and/or valuation.
5. Acknowledge that this application collects personal information about me/us, and that this information is being collected to determine my/our eligibility to obtain finance and insurance information.
6. Authorise the Adviser and/or Lender to disclose personal information about me to credit reporting agencies (in the event of any default in any sum owing to the Lender) and to any third party making an authorised enquiry about me.
7. Authorise the Lender to disclose my personal information to the Adviser during the term of the loan in order to answer my queries or to assist me with my financial arrangements as my circumstances change.
8. Understand that I/we have right of access to, and correction of all personal information that relates pursuant to the Privacy Act 1993.
9. Authorise the Adviser or Promor Ltd and/or the Lender to disclose and release information held by the Adviser or Promor Ltd and/or the Lender to providers of credit, credit agencies, insurance providers and current employers.
10. Authorise the Adviser or Promor Ltd and/or the Lender to make enquiries relative to or in respect of or in further explanation of the information given in this application, which they consider necessary, and for the purpose to disclose to and seek from any bank, financial institution, other lender, accountant, solicitor, adviser, previous or current employer or any other entitled party, additional information including the details of my/our accounts or financial affairs or employment details and I/w e authorise any party requested by the Adviser or Promor Ltd and/or the Lender to provide such information to either Promor Ltd and its franchisees and/or the Lender.
11. Agree that all personal information held by the Adviser or Promor Ltd, may be used by the Adviser or Promor Ltd and/or the Lender for the purpose of mailing to me/us advice of any other products or services offered by any of the parties. In addition, I/we authorise the Adviser, Promor Ltd or the Lender to provide my/our name, address and telephone number to reputable research organisations for the purpose of seeking my/our views on services and products offered by the Adviser, Promor Ltd and the Adviser and/or the Lenders or Risk Insurers. Interest Rates:
1. Interest rates are subject to change without notice.
2. The interest rate quoted by the Adviser or Promor Ltd is the rate quoted to it, by a given lender. This rate is not guaranteed, held or available to the borrower until the Lender has confirmed the advised rate has been locked in via Lender documentation for the draw down date.
3. Due to late settlement of the loan the quoted or ‘locked’ interest rate may be lost and a new rate applied. If committing to a fixed interest rate and deciding to terminate or repay part or the full loan within this fixed period, you may/will incur a break fee as calculated by terms in the loan documents. Insurance: Under Promor Ltd duty of care we must offer the review of personal risk insurance by a specialist risk adviser. I acknowledge that, as part of the intended financing transaction, I should review my personal risk insurance requirements. This signing of this application form in no way implies an application has been made to the adviser for such a review. The adviser may receive a commission for the writing or referral of any personal risk insurance.
ADVISER: Promor Limited
ALL APPLICANT(S) NAME (Can Be Personal Name or Company Name or Trust or Property Address):
1. OUR SERVICES: We are acting as your Mortgage Adviser. By signing below, you request us to arrange a mortgage loan from a Mortgage Lender and you agree to pay the Adviser Fees listed below for our services.
2. ADVISER FEES:
Our Adviser Fees will be received from the above client directly and we may also receive additional compensation from the Lender. Excluding any lender fees & fees paid to third parties, such as valuation fees, rental appraisal, etc.
3. YOUR MORTGAGE LOAN TERMS AND CONDITIONS
Promor Limited in this Mandate Agreement referred to as the “adviser”,
The applicant and guarantor (jointly in this Mandate Agreement referred to as the "Applicant") hereby:
3.1). Appoints the adviser on a sole basis on the terms substantially set out below; and at the same application period time the applicants cannot find another Mortgage adviser or any other individual person or company to arrange a mortgage or loan related to this loan application if the loan application still with Promor Limited, if the applicants decided to use some other Mortgage adviser or any other individual person or company to arrange a mortgage or loan, the applicants must notice Promor Limited immediately by phone and email before signing this agreement. If the applicants find another adviser or company after this mandate agreement has been signed, the Promor Limited has the full rights to stop the loan application immediately and ask the applicants to pay the full adviser fee within 24 hours, if the applicants do not pay the adviser fees in full then the clause 3.8) will execute immediately, And Promor Limited do not take any responsibility about this loan application for these applicants. Applicant cannot cancel the loan application process for whatever reason after this mandate agreement has been signed after 24 hours, if cancelled then full adviser fees will be applied.
3.2). Undertakes to promptly make available all information reasonably requested by the adviser to enable the preparation of an application for the required finance, and warrants that such information provided to the adviser for this purpose will be true and correct in all material respects;
3.3). In terms of the Privacy Act 1993 authorises any person or company to provide the adviser with such information as may be reasonably required in response to credit enquiries;
3.4). Authorises the adviser to furnish details of this application, any information provided for the purpose of this application, and of any prior or subsequent but related dealings with the adviser, to third parties that the adviser may approach in relation to this application;
3.5). Agrees that unless otherwise consented to in writing by the adviser, any the adviser fees shall be due and payable by the Applicant once the lender has been issued the letter of offer or pre-approved letter or proposed loan offer, the adviser and Promor Ltd do not taken any responsibility to drawdown any of the loan and settle any of the loan in all regards, this adviser fees is only for obtain a conditional pre-approved loan facilities letter from the lender. And to be able to settle the loan the client needs to meet all the conditions in the pre-approved letter or proposed loan offer by themselves.
3.6). Agrees that the fees payable to the adviser as flat adviser fees as above.
Commitment deposit is non-refundable, and the remaining balance of adviser fees needs to be paid within 48 hours after the lender has been issued the conditional letter of offer (also called pre-approved letter or proposed loan terms) and is not refundable. After signing of this mandate agreement the formal loan application process is started, during the loan application processing period, the applicants must fully support the adviser to provide all the necessary loan documents which is request by the adviser, any reasons that cannot providing these loan documentation then cause the letter of offer cannot been issued from the lender this will not be acceptable, and full adviser fees must be charged and is not refundable and not negotiable. And this flat fixed adviser fees do not change if the loan amount is changed and is not refundable once has been paid. If the conditional letter of offer (also called pre-approved letter or proposed loan terms) has not been issued by the lender after the applicants fully support and satisfied all the request from the adviser, then the remaining balance of the adviser fees will be waived.
3.7). Agrees that if the adviser is able to arrange finance that the fee and charges specified herein will be paid to the adviser whether or not such finance is uplifted by the applicant and that this mandate operates as an irrevocable deduction authority and direction to your solicitor to make deduction of the agreed fee from the mortgage advance and to pay by Bank transfer to the adviser the agreed fee no later than 24 hours before the settlement of the mortgage advance and to notify the adviser of the payment by email.
3.8). Deposit must be paid within 48 hours after this agreement has been signed, the rest of the adviser fees or full adviser fees must be paid once the letter of offer or pre-approved letter has been issued by the lender. If Promor Limited do not received the deposit or full adviser fees above within the timeframe given by the adviser after this agreement has been signed, The Applicants agree Promor Limited to put a caveat loan on any of the applicants properties or assets, or Promor Limited can arrange a debt collection agency to collection the adviser fees to cover the loss of the adviser fees in all respects.
3.9). The applicants must keep both purpose of lending and the financial statement position at the same all the time after the adviser has been submit the full application to the lender, we do not allow any further changes after we submit the full application to the lender.
3.10). The Adviser holds the full rights to terminate this mandate agreement immediately if the applicants break any of these terms & conditions and the adviser do not take any responsibility for these applicants any loan applications include any of the further cost or penalty by any other third parties.
3.11). Any of the third parties services arrange by the adviser on behalf of the applicants, the applicants must responsibility to pay the third parties any fees issued by the third parties, the adviser do not take any responsibility to pay any third parties fees in all respect.
3.12). The Promor Limited do not guarantee any of the lending amount, loan value ratio, and interest rate and time frame to hold the letter of offer, it’s all depends on the lender.
3.13). The Promor Limited does not allow the applicants to pass over the adviser to contact the lender straight way at all the time unless the applicants have the permission from the adviser.
3.14). All applicants needs to read and agree all the terms and conditions, but we only need one of the applicant to sign this agreement to be confirm on behalf of other applicants include his/her self who signed this agreement in the same loan application process. And the applicant responsibility who first time received this agreement and to let other applicants to read this agreement before they sign for this.
3.15). If the letter of offer has been issued or loan has been approved by the lender, for whatever reason the applicants cannot settle the loan, the adviser fees still need to be charged, special for the fees need to attach to the loan.
3.16). Our fees excluding any lender fees or fees paid to third parties, such as valuation fees, rental appraisal, etc
3.17). The loan application processing timeframe, it will only start from this mandate agreement has been signed, commitment deposit has been paid (if required) and also adviser has received all loan documents as adviser requested. And loan application processing time is varied with each applicant’s own financial situation, no fixed timeframe.
3.18). All the mandate agreement terms and conditions are applied for any renew loans, extend existing loans.
4. Purpose of Lending & Asset statement position as below:
Final, the applicants must take their own legal advice for all the loan application before they sign any of our agreement.
By signing below, I acknowledge that I have received a fully executed copy of this Agreement at the time of my mortgage application. My English language level can fully understand all the terms and conditions in this mandate agreement, and it has been explained to me and I understand it. I voluntarily enter into this Agreement and agree to the Adviser Fees above. This Agreement is a legally binding contractual agreement and I agree to be bound by every term and conditions in this mandate agreement. I confirm that the information given in this application is true, completed and accuracy.