This Commissions Guide article relates to Judo Bank Commercial 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 |
Commercial Upfront | 0.545% | 0.6% |
Commercial Trail | 0.273% | 0.3% |
Residential Upfront | 0.65% | 0.715% |
Residential Trail | 0.15% | 0.165% |
Upfront Commission
Upfront commissions are applicable to transactions at or below $5 million. Any transactions over $5 million are subject to negotiation. The Standard Commission Variation Request form must be used for all negotiated commissions for transaction less than $5 million.
Commission is only payable to mortgage brokers who are fully accredited with Judo for each loan product.
No commission is payable on any Bank Guarantee product.
Referrer Commission only of 0.60% will apply to new accredited brokers.
Trail Commission
Trail commissions are payable monthly based on the average monthly loan balance of the previous month.
Trail Commission will not accrue or be paid for loans in arrears for 30 days plus.
Trail commission is not paid on loans introduced on a referral basis.
Clawbacks
There are no clawbacks except in cases of fraud