Commissions Guide: Connective Complete

Upfront is calculated on the original drawdown amount exclusive of fees for both residential and commercial loans as described in the current quick lending guide.

For Commercial mortgages only, a maximum of 0.33% (inclusive of GST) can be added to the Application Fee to achieve an equivalent of an increase to the Upfront Commission. Calculation is based on the original loan drawdown amount, exclusive of any fee capitalisation.

Loans remain eligible for subsequent upfront payments at the 6- and 12-month marks, based on the highest amount drawn down, up to the full upfront commission amount as long as balance exceeds $20,000.00.

Trail is calculated and paid monthly for both residential and commercial loans as described in the current quick lending guide and paid monthly on the outstanding balance at the end of the month, exclusive of fees.

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.

Trails may cease where there is any fraud, forgery or misleading conduct by a broker.

For Commercial mortgages only, a maximum of 0.385% (inclusive of GST) can be added to the interest rate to achieve an equivalent of an increase to the trail commission.

Products offer the flexibility to adjust commission in accordance with the requirements of the borrower. In these instances, on a case by case basis where it is agreed by both the broker and the lender the commission paid may be different to the standard commission.

No Clawback provision for commercial and Specialist Residential product Range.