Mortgage to buy insurance broking book of clients?

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Otto Dargan
Mortgage Specialist
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Mortgage to buy insurance broking book of clients?

Post by Otto Dargan »

Hi dmiles, welcome to the forums.

Yes, you can get an insurance broking business loan to buy an insurance broking book of clients.

Please note the following:
  • You can borrow up to 60% of the portfolio value of the client book, which is based on the bank's own revenue multiplier.
  • The maximum term is 10 years principal and interest (P&I).
  • The maximum interest only term is 3 years.
  • The mortgage is lent against commission income and premium funding.
  • If you can provide a residential property as security then cash flow finance is available.
  • You'll need to be in a strong financial position and have at least 3 years management experience.
  • Business loan refinance is available for existing facilities.
Please note that you may need to prove your Australian Financial Services Licence (AFSL) and provide a business proposal as well.

We have mortgage brokers who specialise in financing the purchase of client portfolios whether it's in the industries of insurance, financial planning or even accounting.

You can check out our website to learn more or speak with one of our business loan specialists by calling 1300 889 743 or by placing an online enquiry.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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