This Commissions Guide article relates to Bluebay residential and Personal Loans.
Connective will maintain this guide to the best of its ability but cannot guarantee that the information within is complete, and/or in line with the latest guidance and policies of the lender. If you believe anything is missing or inaccurate, please contact us.
Contents:
Residential Loans
Personal Loans
Commission Rates
Rates applicable from 1st November 2021
| ex GST | inc GST | Applicability |
Upfront | 0.5% | 0.55% |
|
Upfront | 0.6% | 0.66% |
|
Trail | 0.15% | 0.165% |
|
Trail | 0.091% | 0.1% |
|
Notes & Definitions
UFC will be paid by the 15th day of each month following settlement date of the loan.
Upfront commission will be paid on top up loans but only where the top up amount is $50,000 or more
Trail Will be paid by the 15th day of each month in respect of the daily balance of the outstanding loan amounts in the previous calendar month.
If Bluebay receives a variation or principal increase to a loan from one of your borrowers and that variation or principal increase was submitted by another mortgage broker, all trail commission for that loan will cease to be paid to you.
For a top up loan (submitted by the broker who originally submitted the application to Bluebay trail commission will continue to be paid on the outstanding loan balance irrespective of any top up amount.
Clawbacks
100% of the upfront commission is clawed back if the loan is repaid within 12 months of the settlement
Personal Loans
$400 commission for each loan settled.