Donation Home Loans
13 October 2003 at 1:10 pm
David Philipsen is a mortgage broker with a difference! Through his Donation Home Loans he’s keen to find the best loan deal for people but he’s just as committed to giving a percentage of his loan commission to Australian charities.
Almost 18 months into its operations, Donation Home Loans now has some 64 Not for Profits getting a monthly donation via nominations from people who take out their home loan from DHL. These donations now total some $3,000 per month and growing.
David Philipsen says that whilst providing competitive home loans to it’s customers, Donation Home Loans, channels at least 50% of the ongoing loan commissions to support any qualifying organisation as nominated by the borrower.
And Philipsen says it’s about time that all businesses return some fixed portion of revenue back to the community.
Philipsen says the current range of available loans are very competitive some with $0 up-front and $0 ongoing fees. But what most people don’t realise is that their mortgage is a source of ongoing income for whoever writes the loan.
He says there are two cost structures in writing a loan; the up-front commission and the ongoing commission of which Donation Home Loans gives 50% to the nominated charity.
Philipsen says he is not responsible for the amount of the monthly donation or which charities should get the money. This is based purely on the size of the loan and the wishes of the homebuyer.
Philipsen ensures his clients have access to Pro Bono Australia’s directory of Not for Profit Organisations to assist them in their choice of a charity.
Philipsen says in some instances the monthly donation to a charity could be as low as $1.20 or as high as $500.
But he stresses that Donation Home Loans customers have the opportunity to help worthy causes without having to put their hands in their own pockets.
An ethical company, Philipsen says DHL has established certain criteria to determine who would qualify as a ‘Supported Organisation’.
Donation Home Loans will register any charity, club or community based organisation that meets the following qualification criteria:
– Demonstrate how your activities contribute to the community or society (this can be a copy of your charter or similar document).
– The organisation is Not for Profit.
– A commitment that there are no political associations or alliances.
– Directors, Trustees or office bearers must sign an undertaking that the information provided is true and correct.
DHL is a corporate member of the Mortgage Industry Association of Australasia. It can access to more than 30 lenders (including all the major bank and non-bank lenders) and over 350 different loan products.
It uses a specialised software program to locate the most competitive home loan solution available and compare up to four different loans at one time.
Philipsen says supported organisations will be able to promote to their own mailing lists to increase the volume of donations that they will receive.
If you would like an electronic Donation Home Loans registration form send us an email to probono@probonoaustralia.com.au.
To find out more about DHL check out the website at www.donationhomeloans.com.au.
For more information on listing or advertising in the Pro Bono Directory of Not for Profit organisations, a reference tool used by DHL in addition to being distributed free of charge to 50,000 potential donors, e-mail probono@probonoaustralia.com.au.
