First Mortgage Referral Program

First Mortgage Referral Bonus Program Terms and Conditions The First Mortgage Referral Bonus Program is designed to incentivise and reward brokers who actively participate by referring and settling substantial first mortgages. This document outlines the terms and conditions governing the program to ensure transparency and fairness. Eligibility Requirements: • Only brokers who follow the Secured Lending LinkedIn page are eligible for this program. • Brokers must refer and successfully settle $5 million or more in first mortgages during the current Financial Year (01/07/2023 – 30/06/2024) to qualify. Bonus Calculation and Payment: • Referral Threshold: Brokers must refer and successfully settle $5 million or more in first mortgages within the current FY to qualify for the program. • Referral Commission Bonus: Once the threshold is met, eligible brokers will receive an additional 0.25% commission on all future first mortgage deals for the rest of the FY. • Commission Calculation: The additional 0.25% bonus commission will be calculated based on the total loan amount for each settled mortgage. • Payment Frequency: The bonus commission will be paid along with the regular commission payments on a schedule determined by the organisation. Program Duration: • The program will run for the entire duration of the Financial Year (FY). • Brokers can qualify for the program at any point during the FY when they reach the $5 million referral and settlement threshold. Reporting and Tracking: • The organisation will maintain a transparent tracking system to record and monitor the referrals and settlements of participating brokers. • Participating brokers will have access to a secure online portal or platform to track their progress and view their bonus commission calculations. Disqualification Criteria: • Brokers who fail to meet the $5 million referral and settlement threshold during the FY will not be eligible for the program. • Any breach of ethical or legal standards in the referral process may lead to disqualification from the program, subject to a fair and thorough investigation. • The organisation reserves the right to disqualify any broker found to be engaging in fraudulent or unethical activities. Program Renewal Considerations: • The organisation may choose to renew the program for subsequent FYs based on its success and effectiveness. • Any changes or modifications to the program, including eligibility criteria, bonus calculations, or other terms, will be communicated to participating brokers in advance. This referral program encourages brokers to refer and settle substantial first mortgages, thereby contributing to the organisation's success. We value clear communication, transparency, and fairness to ensure the program's effectiveness and integrity. By participating in this program, brokers not only qualify for bonus commissions but also play a vital role in achieving the organisation's objectives. Please contact our program administrator for any questions or clarifications regarding these terms and conditions. Effective Date: 01/10/2023