This Commissions Guide article relates to Homestart Residential 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:
Commission Rates
| ex GST | inc GST |
Upfront | 0.5% | 0.55% |
Trail | 0.15% | 0 165% |
Upfront Commission
For all loans the minimum commission payable for any settled loan shall be $440 (incl. GST)
Upfront commission is not payable on any 'Breakthrough Loan'
Where an existing loan is restructured, upfront commission is only payable where the borrower pays an establishment fee.
Trail Commission
Trail is calculated on the current outstanding balance on the last day of each month
Clawbacks
Period | % Clawback |
0-12 Months | 100% |
13-24 Months | 50% |