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We've got answers to all frequently asked questions and help guides to provide instructions on how to use our self service Customer Portal.
We lend against typical residential and income producing commercial properties such as shops, offices, industrial units, warehouses and some other specialised commercial premises.
We don’t lend against some specialised properties such as aged care, sporting facilities, service stations, caravan parks, rural, agricultural or properties in remote/arid regions or construction/development properties. Please refer to our Eligible Security Types information sheet.
You can generate an account statement via one of the following options:
- Self serve via the online customer portal and generate an account statement or download previously issued statement.
- Submit a request via the online portal or email via Loansupport@thinktank.net.au and our team will generate a statement and send out to you.
- Contact Client Services team on 1300 163 184
If you are having difficulties logging into the online customer portal, please contact our Client Services team on 1300 163 184.
Dispute Resolution Procedures
We hope you are satisfied with our products and service. If you are not, please first speak to your nominated representative or telephone 1300 163 184 and ask to speak to the Compliance Officer. If you are not satisfied with any decision or our handling of the complaint, your complaint may be referred for external resolution to the Australian Financial Complaints Authority. Their contact details are set out below.
Australian Financial Complaints Authority (AFCA)
Post: GPO Box 3 Melbourne VIC 3001
Phone: 1800 931 678
Email: info@afca.org.au
Web: www.afca.org.au
Additional information in relation to AFCA including rules and guidelines are available from their website.
You’ll receive a loan statement every six months in early January and early July. If you require transaction information more frequently, you can access your loan history via our online customer portal.
A redraw form is available for download from our helpful forms and tools.
If you have payments in advance, these are available for you to redraw on all variable rate loans (except for SMSF loans where redraw is not permitted under super fund legislation).
Yes, we offer fixed rates between one and five years.
Yes. Please note though, that principal reductions may attract an early prepayment fee depending on the loan product selected. Please refer to your Letter of Offer for all terms and conditions. The best method to make additional payments is via BPay. To obtain BPay details, please contact the Client Services team on 1300 163 184.
Interest is calculated daily on the outstanding loan balance and the current interest rate is charged monthly on arrears.
Providing your broker was the introducing party of the loan in question to Thinktank and we hold the associated Privacy Consent signed by all parties to the loan, we can discuss certain aspects of your loan, the current balance and scheduled repayments with them. We cannot provide any personal information about you, your whereabouts or contact details and will not action any changes on your loan without obtaining your express consent.
A revaluation of your property can be arranged by Thinktank at your cost. However, if the property value has decreased, your loan to valuation ratio may increase, potentially leading to an increase in your interest rate or we may seek a principal reduction to maintain your loan to valuation ratio as agreed under your loan contract.
You can enquire about changing your variable home loan to a fixed home loan by contacting us directly on 1300 163 184 or by sending us an email to loansupport@thinktank.net.au
Options available to you include:
- Repay only the minimum amount – which could free up extra cash in the short term.
- Repay more than the minimum – over time you will reduce the amount of loan interest and pay your loan off sooner.
- Change repayment frequency – we offer weekly, fortnightly or monthly payment options. Please note that SMSF and Interest Only loans only have a monthly payment option.
- Switch between Principal & Interest and Interest Only repayments (subject to credit approval).
You can instantly check your current rate, repayments and balance by signing into you Online Customer Portal and selecting your loan account. Alternatively, you can call us on 1300 163 184.
You can estimate your proposed future repayments anytime by using our online repayment calculator.
We encourage customers who may be facing financial difficulties to contact us on 1300 163 184 as soon as possible so that we can best assist you and provide you certainty. Our call centre operates between 8.30am – 5:30pm Monday to Friday. If payments fall into arrears without prior notice, your loan will be in default and your credit rating may be impacted, therefore making contact with our call centre team under such circumstances is highly recommended and our Hardship experts will discuss how we may be able to help.
You can submit a request to change your repayment amount by either sending us an email at loansupport@thinktank.net.au, or by calling us on 1300 163 184
As per our loan documentation, we do advertise all rate changes in the national press and publish our current interest rates and interest rate changes on our website. System changes are currently being implemented to enable future rates changes to also be communicated by email and/or letter to each borrower.
We don’t provide traditional overdraft facilities but do offer a Line of Credit facility up to $1,000,000.
Industry associations, the MFAA and the FBAA, both offer referrals to qualified finance brokers. Alternatively, we’ll be happy to refer you to an accredited Thinktank finance broker in your area.
Yes, we finance residential rental property for a range of purposes including owner-occupied and investment to PAYG and self employed borrowers for SMSF.
Non-resident Australian citizens can apply for a loan with us as long as they have on-shore income sufficient to meet our debt servicing criteria. Please note that servicing criteria for non-residents varies from standard loan servicing criteria.
Vacant land isn’t acceptable as primary security. We’ll only accept vacant land where it’s used as supporting security in addition to a typical commercial property of greater value.
It’s vital that all borrowers receive sound, impartial advice prior to signing loan documentation particularly in relation to personal guarantees. With recent changes in land and property legislation, solicitors play an important role in verifying the identity of the parties signing the mortgage which is now required by most states and territories.
Where a company or trust is a party to a loan, personal guarantees serve to ensure the responsibility for maintaining the loan extends to the key people who own and/or operate that entity. All loans not in personal names must be supported by the personal guarantees of all directors.
We will only take into account income as shown in financial statements and on bank statements or BAS returns. Unreported or unverifiable cash receipts will not be included in our loan servicing calculations (may not be required for Quick Doc or Mid Doc loans).
An independent valuer appointed by us will inspect the property and assess its value based on:
- recent sales of comparable properties in the area or the “vacant possession” approach which is especially relevant to owner-occupied properties.
- a capitalisation approach that derives a value relative to the actual or likely rental income produced.
We retain a diverse panel of experienced commercial property valuers and will appoint one to conduct an independent valuation on the property that is addressed to us. Our valuation instructions are the same for all loans and seek an assessment of current market value under normal buyer/seller circumstances.
Where all information supporting the loan application has been provided, we will typically provide a formal approval (subject to an independent valuation of the security property) within 3-4 business days. This may vary according to the complexity of the transaction.
It’s helpful to be able to describe:
- the type of property being provided as security
- value of the property
- its location
- the required loan amount
- the loan purpose (purchase, refinance, equity release)
- other loans outstanding
- income available to service all liabilities
- whether tax returns and financial statements are available
- any other important information such as credit history
- Borrower background including income sources, business and experience.
By default, all communications are electronic (email and the online customer portal). If necessary, you can change back to paper (and back to electronic) statements and letters in the online Customer Portal: tick or untick in your Profile on the User Information screen.
Please complete a new direct debit request form available on our website under Forms and Tools, and submit it to the Client Services team via Loansupport@thinktank.net.au or contact the Client Services team on 1300 163 184.
Your can make extra repayments via BPay. The BPay Biller Code and reference can be found on the Payment Details tab on the online customer portal, or you can contact the Client Services team on 1300 163 184.
You can redraw a maximum of $5,000 per day (maximum $15,000 per week) via the online Customer Portal. If you require an amount higher than the online Customer Portal limit, you must sign a Redraw Request Form which is available on our website under Forms and Tools, or by contacting our Client Services team on 1300 163 184 . This is to protect your account funds, and when 2 or more signatures are required.
The Redraw button is only available for loans that have Redraw facility and where one person alone has authority to sign for that loan.
Microsoft Internet Explorer is not supported. The Portal has been tested for Microsoft Edge, Google Chrome, Firefox and Safari – please try one of these. You may need to open the new browser and then Copy & Paste the link from the email the URL box at the top.
Depending on internet traffic, there maybe a short delay. The Resend button will be selectable after a short time to try again, if necessary. If you still are not able to receive the verification code please do not hesitate to contact our Client Services team on 1300 163 184.
Every Portal Login must have its own email address and mobile. You can only use a shared email or mobile number for one Portal login. To add access for a co-borrower or guarantor, please contact Loan Support with new contact details and we can set that up for you.