This Commissions Guide article relates to Gateway Bank Commercial Loans. Articles related to other Gateway Bank products can be found here:
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:
Commission Rates
Upfront Commission
Rates applicable to loans settling from 1 February 2019:
| ex GST | inc GST |
For Commercial Property Loan and Commercial Property Plus Mortgage Loan. | 0.66% | 0.726% |
Generally, Upfront Commission is calculated as a percentage of the principal amount advanced under a loan.
Trail Commission
| ex GST | inc GST |
For Commercial Property Loan and Commercial Property Plus Mortgage Loan. | 0.275% | 0.3025% |
Trail commission is calculated on the average daily outstanding principal balance of the loan during the preceding month.
Clawbacks
Period | % Clawback |
Loan is repaid on or before 91 days from funding date | 100% |
Loan is repaid on or after 91 days and on or before 730 days from funding date | 50% |