When is my first instalment due?
Your first instalment is due on the first day your policy starts or, if this has passed, on the day MPF processes your application. If you have applied directly through your broker’s website, payment will be taken the same day.
Is GST payable on my monthly instalments?
GST is not applicable to your loan and you will not pay any GST on your monthly instalments. However, your insurance premium does attract GST so please refer to your accountant about any tax concerns.
Are the credit charges tax deductible?
Generally speaking you can claim a deduction on interest expenses. Your accountant can confirm how this relates to your individual circumstances.
How can I update my payment details?
Your payment details can be updated through My Account. If you have not yet registered for an account, please call us 1300 555 068 and we can help set you up.
I am unable to make a payment this month, what should I do?
Get in touch with our Collections team to making alternate payment arrangements on 1300 591 068 or firstname.lastname@example.org
Will my policy be cancelled if I miss a payment?
We understand circumstances can change without warning. Don’t worry - we’ll work with you to make alternative arrangements. Please speak to our Collections team to discuss options on 1300 591 698 or email email@example.com
Can I fund my home, contents and other personal insurance?
Yes! As well as Commercial policies, MPF can fund a range of Domestic insurance policies including Residential Strata.
Quoting and endorsements
What instalment options does my client have?
Instalments can be set at 6 – 12 months and also quarterly, depending on product and intermediary preferences. If the policy term is greater than 12 months, we can often extend the loan to match.
Can Domestic policies be included in Commercial contracts?
Yes, as long as the value of the Domestic premium is less than 50% of the combined loan premium.
How do I endorse a loan in Edge?
You can manually endorse a loan in Edge by clicking the 'Endorse' button in the Loan details view. Any loan report or loan search results showing the 'Action' button will also offer 'Endorse' as an option where relevant.
How do I endorse a credit amount in Edge? Edge won’t let me.
If the net amount is an addition to the loan amount, the credit can be endorsed through Edge. Otherwise, the credit needs to be transferred to MPF and we will apply it to the balance of the loan. Please get in touch with our Customer Service team for help with processing.
If the credit is part of a multi endorsement it can be processed the usual way in Edge. Otherwise the credit needs to be transferred to MPF and we will apply it to the balance of the loan.
What’s the maximum quote amount that can be accepted online?
Commercial, Domestic (single borrower only) and Residential Strata (Australia only) quotes can be accepted online up to $150,000. Above this amount we require a signed contract.
My client is having trouble accepting their quote online. What should I do?
Please check Edge to see if the application has been converted to a Loan. If not, please get in touch with our Customer Service team for help with processing.
When will funds settle to my account?
Your settlement dates can be found in Edge under Reports > Settlements > Settlement due. Loans listed on the report are sorted by default in order of Settlement due.
Where can I get a copy of my remittance for funds settled to me?
Remittances can be downloaded in Edge under Reports > Remittances.
How can I get a repayment schedule for my client?
You can download your client’s repayment schedule in Edge by opening the Loan then clicking Documents > Repayment Schedule. The form will generate as a PDF for you to view or send to your client.
How can I update my client’s account details?
Your client can update their payment details online through My Account. If they don’t have an account yet, you can generate a registration link to send them through Edge. Simply open the Loan, click Documents > Direct Debit Request Form. The form will generate as a PDF which you can send to your client.
My client has updated their trading name. How can I update their loan details?
Trading names can be updated directly in Edge. If your client changes their ABN or legal name mid-way through their loan term, they will need to sign a new contract containing the new entity’s details. Alternatively, a new contract must be accepted.