What our clients are saying

    "Marty was fantastic! We swore never to use a broker again after bad experiences with other brokers in the past, and our last loan we negotiated ourselves, however this time we needed a mortgage... " – Blake Millgate
    "It is impossible to exaggerate how highly I rate Mortgage Experts and my experience with Marty McDonald... " – Brendan Arlington
    "Mortgage Experts have provided a fantastic experience in an area that can be complicated and emotional. Marty was always clear and precise and always made time to discuss the matters at hand... " – Brett Parker
    "I was really impressed with Marty's services. He was responsive to emails and calls, considered a range of options, and kept me informed at every stage. He was also very patient... " – Elise Darsow
    "Marty was great to deal with. From initial contact to finding a perfect solution and strategy to our situation to then securing the funding in a tight time frame nothing was too much trouble... " – Nick and Blaise Porter
    "Great service! All the advice I've received in the past has been really helpful. Love the newsletters which keep me updated on developments in the market. Highly recommended! " – Nick Jolly
    "I have used Marty's mortgage brokerage service (Mortgage Experts). He has been professional, resourceful, gone beyond the call of duty in servicing my mortgage. He has been able to... " – Prithvi Moses
    "We’re both really happy to have been able to get this sale across the line and are particularly grateful for you finding us a way to make the finance work! Walking into our new home... " – Sarah Macdonald & Stewart Bovell
    "We found Marty McDonald from Mortgage Experts through a Google search because he had a hugely informative page about family trust loans. Choosing Marty as our broker was a huge blessing... " – Tracey Cools

Commission income

Yes you can still get a home or investment loan approved if you receive a significant part or all of your salary as commission income. Lenders have different methods of calculating what portion of your commission income they will accept if any. This is where our knowledge of lender policy can help you to secure the loan you're after.

General acceptance of commission income

Nearly all lenders will accept commission income however the devil is in the detail and it very much depends on the lenders policies and verification requirements as to what will be deemed acceptable income.

If you are receiving fairly consistent commission income at least quarterly and have been for at least 12 months we will be able to find a lender to accept 100% of your commission income. There are also options for those employed as little as 3 months in their current position.

If your commission is “lumpy” or is paid sporadically we may have to go back 12 months or more to establish a pattern that a lender is comfortable with.

Commission income policy if employed less than 12 months

We have a few lenders who will accept an annualised estimate of income including commission income for someone who has only been in their job for 3 months (rather than the traditional minimum of 12 months). This policy is very generous and was probably designed more for overtime and shift loading income but the policy does apply for commission sales people.

To utilise this policy you would have to provide your 2 most recent payslips with a year to date figure that is fairly consistent with the current earnings once both figures are annualised AND the date on the latest payslip must be after the end of September each new financial year so that a minimum of 3 months earnings can be verified.

Commission income policy if employed > than 12 months

This is fairly straightforward to get approved and you would have a number of lending options available (as long as current income is similar to the previous year’s earning). Most lenders have a 12 month policy for commission income. The usual way for a lender to verify commission income would to take the lower of the last year’s payment summary amount or the annualised year to date (YTD) figure from the latest payslip.

Some lenders may still want to treat you as if you were self employed and average your income over the last 2 years. But they are in the minority.

Common industries where commission income is prevalent

  • Motor vehicle sales
  • Mortgage broking (yes we know what it’s like!)
  • Real estate sales
  • IT sales professionals
  • Insurance industry
  • Telecommunications

Our Current Lender Panel

Lex Luther Enterprises Pty Ltd (ABN 58114636949) trading as “Mortgage Experts” is an Authorised Credit Representative (444479) of Martin Warren Thomas McDonald, Australian Credit Licence (391230) under s64(1) of the National Consumer Protection Act 2009.