How To Record A Mortgage

Many property manager's use PaTMa to keep track of their investment mortages as a way of amplifying and gearing their returns. PaTMa has the ability to record all mortgages and property values, sending automatic reminders three months prior fixed rate terminations and displaying instant visual data.

Getting Started

  • In the header, navigate to Properties.

You will be directed to a page listing your current properties.

Note: With the free version of PaTMa, you can only manage one property at a time. To add more than one property to your account. Upgrade to a Premium Account.

  • Click the Property Name you wish to aaccount a mortgage for.

A page displaying the property's information will be presented with details of relevant rent expenses, tenancies, a finance summary and recent expenses.

  • On the page, scroll to locate the column titled Mortgages and click Add Mortgage.

Note: Just above this column, you will note an option to mark the property as Mortgage Free.

Alternatively

  • Navigate to Properties .

Note: This is located in the header of the website, as shown below.

Your properties will be displayed on the screen, listed with the name and address.

  • Click the Property Name you wish to add a mortgage to.

In the right corner, the property's name will be displayed with a downwards arrow.
- Click the arrow, to enable the dropdown menu, and select Add Mortgage.

You will be redirected to a page displaying a form that you will need to fill in with the mortgage agreement.

Filling In The Form

Lender

In this field, enter the name of the lender to which the mortgage is being paid to.

Start Date

Enter the date of which the mortgage began by clicking on the field to enable Calendar and select the relevant Date.

Term (years)

Manually enter the period length of the mortgage in years.

Repayment Type

Specify the method of repayment that is valid for the mortgage (ie. Repayment/Interest Only).

Balance

  • Insert the amount to be paid in total.

Interest Rate

In this field, enter the interest rate applied to the mortgage by the lender.

Interest Type

Specify whether the interest is to be paid on a fixed/tracker/variable basis, using the dropdown menu.

Fixed Rate End Date

Using the calendar popup, enter the date the fixed rate repayments are due to end.

  • Once completed, select Save.

Recording Mortgage Payments

  • In the header, navigate to Properties.

You will be directed to a page listing your current properties.

Note: With the free version of PaTMa, you can only manage one property at a time. To add more than one property to your account. Upgrade to a Premium Account.

  • Click the Property Name you wish to aaccount a payment for.

A page displaying the property's information will be presented with details of relevant rent expenses, tenancies, a finance summary and recent expenses.

-On the page, locate the column titled Recent Expenses and click Add: Mortgage Payment.

Alternatively

  • Navigate to Properties .

Note: This is located in the header of the website, as shown below.

Your properties will be displayed on the screen, listed with the name and address,

  • Click the Property Name you wish to add a payment to.

In the right corner, the property's name will be displayed with a downwards arrow.
- Click the arrow, to enable the dropdown menu, and select Add Mortgage Payment.

You will be redirected to a page displaying a form that you will need to fill in with the tenancy agreement details.

Filling In The Form

Date Paid

In this field, enter the date the mortgage was paid.

  • Click on the field to enable calendar and select the relevant Date.

Payment Method

Specify the payment method used (ie. Cash/Card).

Amount

  • Insert the amount paid in total.

Supplier

In this field, use the dropdown menu to select the supplier of the certifcate.

Note: If this is the first time accounting for a mortage, you will have to fill in popup form with the supplier's name and details. In this case:

  • Click Add
  • Enter the supplier's Name, Phone, Email, Opening Hours and Additional Notes (ie. Account No.)

  • Once completed, select Save.
  • If you wish to continue on to create another payment, select Save + Enter Another