Find out more about Private Mortgages Australia with their latest Q&A
- First up, what do Private Mortgages do and why do you do it
Private Mortgages Australia is a boutique Mortgage Manager that specialises in sourcing, originating and managing commercial mortgages. We exist to help borrowers that the banking system has failed due to their slow processing times and inflexible lending criteria.
- Where did it all begin and who was the mastermind behind the business?
PMA’s founders Tony Barbone and Tim Hart knew each other from their previous roles where Tony was working for a private lending firm and Tim was a sophisticated investor. They realised there was an opportunity to start their own company which would be based on a transparent lending process, being responsive to client’s needs, adapting solutions and providing quick lending decisions.
- How do you differ from other mortgage companies, what is your USP? Private lending can be complicated and there are a lot of unscrupulous lenders out there who have muddied the reputation of private lending, so we aim to make the lending process completely transparent so that our referrers and borrowers feel like they have all the information they need at any time.
- What is your biggest achievement with the business so far? We have just finalised an arrangement with an independent wholesale funder which committed to investing up to $100 million with PMA to fund our portfolio of registered first mortgage loans. This investment has enabled us to grow the number of loans we are able to service and increase the maximum loan amount from $2 million to $10 million on registered first mortgages.
- If you could describe Private Mortgages in 3 words, what would they be? Flexible, responsive, transparent.
- What is the founders background? Outside of work what do you do? How did you get into the mortgaging space
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 is a self-confessed finance nerd and loves the rush of getting a deal over the line. Outside of work his happy place is in the kitchen, cooking up masterpieces for his wife Shannon and two young children.
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. As an educator, Tim has delivered training to thousands of investors, in both residential and commercial fields, using creative investment strategies. Outside of work, Tim spends his time goofing around with his son Charlie, wife Rachel and their two cats.
- What’s in store for Private Mortgages in the future? How do you plan to take the business further? Following the institutional backing we recently received we’ve made significant changes to the products we offer, changing the interest rates and the maximum loan amounts. We expect that these changes will attract a wider pool of borrowers and will help grow the business exponentially in the next few years. 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.
- In 5 years time, where do you see the business? After nearly five years in operation we’ve seen amazing growth in loan volume and expect this to continue for the next five years. With regulatory changes on the horizon following the Royal Commission we will continue to make changes to our products to better suit the needs of those borrowers who the banks are unable to help. In five years’ time we see ourselves positioned as one of the leading specialist lenders known for providing flexible finance solutions.
About Private Mortgages Australia:
Direct and Pooled investment opportunities available.
Directors of PMA, and their associates Co-Invest in mortgages.PMA was established in 2014.
Credit Committee has over 50 years combined experience in private lending, investment & credit analysis.
Proven track record of providing regular high returns.
Cleaner loans, better results.