Commission Rates
| ex GST | inc GST |
Upfront - Prime Max | 0.65% | 0.715% |
Upfront - 85% No LMI Lite Doc | 0.70% | 0.77% |
Bridging End Debt | 0.15% | 0.165% |
Bridging No End Debt | 0.35% | 0.385 |
Trail | 0.15% | 0.165% |
Upfront Commission
Upfront Commission for each loan is based on the lowest Net Loan Balance during the period commencing on the Drawdown Date and ending on the date that is 10 calendar days from the Drawdown Date
A subsequent Upfront Commission will be payable if the borrower’s average daily Net Loan Balance for that first 12-month period has increased by $15,000 or more compared to the Net Loan Balance figure used for the calculation of the initial Upfront Commission.
If there is a credit limit increase for a Loan, a top-up Upfront Commission equal to 0.65% plus GST of the amount of the credit limit increase.
Trail Commission
Trail Commission is calculated on the Net Loan Balance as at the last calendar day of each calendar month for the life of the Loan.
No Trail Commission will accrue in respect of Loans during any period the Loan is in default. Once any default is rectified, trail Commission will commence again, but will not be paid for the default period.
No Trail commissions are payable for Bridging loans.
Clawbacks
Period | % Clawback |
0-12 Months | 100% |
13-18 Months | 50% |
For Bridging loans with End Debt, 100% of the upfront is clawed back is refinanced within the first 12 months.
No clawback provision for Bridging loans with no end debt.