Salary packaging providers are there to administer benefits, not design your long-term lending strategy. That’s why many Not for Profit (NFP) employees feel there is still a missing piece when it comes to their mortgage.
What packaging providers do well
They:
- Explain which expenses can be packaged under your employer’s policy.
- Set up and adjust your packaging arrangements within FBT rules.
- Provide statements and summaries you can use at tax time.
What’s usually left out
Most providers do not:
- Analyse how packaging decisions affect your borrowing power.
- Design loan structures compatible with lender policies.
- Coach you on the pros and cons of refinancing or buying at a given time.
That is not a flaw, it just isn’t their job.
Real world friction points
Without a mortgage professional who understands both sides, you may experience:
- Lenders misreading complex payslips and benefit descriptions.
- Confusion over how employer payments will interact with loan account types.
- Delays while you go back and forth between HR, packaging and the bank.
How Iconic bridges the gap
Iconic Mortgage Solutions:
- Reviews your packaging documents from a lending perspective.
- Chooses lender and structure to work smoothly with your existing arrangements.
- Helps all parties speak the same language so there’s less friction and fewer surprises.
“Already have a salary packaging setup but unsure how it fits with your home loan? Iconic can provide an NFP specific mortgage review.”