You can hand over the application to Powerhouse at any point, however Powerhouse do not qualify the customer or search for suitable loan options. Once you have discussed loan options with the customer, confirmed the lender, product and loan structure, it is at this point that you can hand over the application to Powerhouse.
Powerhouse can assist with Pre-Packaging tasks such as upfront valuations, pricing requests and servicing calculators before you are ready to select the lender and product. If the particular customer proceeds to an application, the pre-packaging fee will become part of your total package fee.
It is the Broker’s responsibility to ensure that Best Interest Duty has been adhered to and the loan is not unsuitable for the customer.
Top up applications are included in the Superior Package. For example, if we have processed a customer’s application previously and they have returned for a Top up, there is no package fee payable, as this is classed as a ‘Post Settlement Task’.
For Powerhouse, processing a Top Up application that we haven’t previously processed is the same amount of work as a regular application. We do however understand that for the broker, the Upfront commission can be small, therefore we charge $200 per Top Up application. You need to consider that it may be financially viable to process the top up application yourself.
Whether you submit 1 loan a month or 12 loans a month, Powerhouse are here to support you, regardless of your volume.
No, as this is a credit outcome, Powerhouse will not discuss this with the customer. This is the Broker’s responsibility.
Powerhouse will require Administration access to your CRM system for all packages. If your Aggregator is unable to provide Admin access, we will require log in via the Broker details.
Yes, we offer an Asset Package which outlines how we can assist with those applications.
If you have selected the Advanced or Superior Package, we will communicate to your customer as Powerhouse. Introduce us to your customer in an email, advising that your processing team will assist in processing the application, following up with the lender and ensuring that the application process from submission to settlement is smooth, consistent and completed in a timely manner. We are just an extension of you and we will treat your customers, just as you would.
Powerhouse use Broker Engine to track the application through all stages of the application process. We have worked closely with Broker Engine to customize the platform to suit the needs of our business.
Powerhouse use Google Drive to store customer and Broker documents. We can set up a shared folder which we can both access and update in real time.
There is no lock in contract. We will provide you with a service agreement to ensure all parties follow the terms and conditions of the arrangement. If any party decides to terminate the agreement, 30 days notice is required.
Yes. We have created our own handover sheet that reflects the minimum standard of information that we require to process the application as quickly and efficiently as possible.
No. Powerhouse are solely owned and operated within Australia. We are highly experienced loan processors with Certificate IV in Mortgage Broking and Diploma of Finance under our belts. Please visit the About Us page for more information.
We aim to provide quick, efficient and exceptional service. Once you advise us of a new application, we will acknowledge receipt of the file within 2 hours and start working on the application. Providing we have all documents required to submit the application, it will be submitted to the lender within 24 hours, if not sooner.