Commission Rates
| ex GST | inc GST |
Residential Upfront | 0.65% | 0.715% |
Commercial Upfront | 0.60% | 0.66% |
Residential Trails | 0.15% | 0.165% |
Commercial Trails | 0.20% | 0.22% |
Upfront Commission
amount drawn down for each Loan on the settlement date net (less) of any funds held in the borrowers offset accounts or available via redraw as at the 10th business day after the end of the month in which the loan settles
· A subsequent payment of Upfront Commission may be paid upon application in the event that the borrower, having drawn down the loan amount at settlement, transfers all or some of those monies into their Offset Account and then within 6 months of settlement uses those loan monies for a legitimate purpose, in line with responsible lending
Trail Commission
· Trail is paid on the Loan balance of each Loan less the balance held in any linked Offset Sub-account.
Trail is not be paid in respect of loans during any default (default period). Once any default is rectified, payment of trail will re-commence but will not be payable for the Default Period.
Brighten may cease paying trail where there is any fraud, forgery or misleading conduct by a broker.
Clawbacks
Period | % Clawback |
0-12 Months | 100% |
13-18 Months | 50% |
There is no clawback provision for Commercial products