Our fees
Lending fees
These fees may be charged in connection with your loan contract.
| Fee | When payable | Amount |
| Establishment fee | Payable when a loan is made. The level of fee will depend on the complexity of the documentation required to establish the loan. Commercial loans involving a number of entities will be more expensive than a conventional home loan. | From $350 |
| PPSR fee | Payable when a loan is made which involves us registering our financial interest on the Personal Properties Securities Register (PPSR). | $50 |
| Line facility fee | A line fee of up to 0.5%, calculated on the facility limit, is payable monthly in arrears. | Variable |
| Early repayment recovery fee |
The early repayment recovery fee is payable when repaying a loan part way through a fixed rate period. The fee is calculated for all loans using the formula prescribed by the Credit Contracts and Consumer Finance Regulations 2004 (Regulation 9 and 11) A description and example of how this fee is calculated is available here. |
Variable |
| Early repayment administration fee | Payable when you repay your loan prior to maturity. | $50 |
| Variation fee | Payable when we agree to change the structure of your loan. | $250 |
| Rate fix fee | Payable should you chose to fix the interest rate on your loan during the term of your loan. | $250 |
| Discharge or mortgage administration fee | If we are required to discharge (either partial or in full) or complete any other transaction on any security currently held by us as security for a loan. | $100 |
Default interest rates
If you miss a payment you may be charged default interest on the amount you’ve failed to pay. The rate is 2% above your normal interest rate. It’s charged from the date you missed the payment to the time it’s paid.
Default fees
In the event of breach of contract, or on the enforcement of the contract, the following default fees are payable.
| Default fee | When payable | Amount |
| Payment dishonour fee | Payable if any payment is dishonoured or reversed or unpaid. | $15 |
| Notice of unpaid rates | If we write to you because you have failed to pay your rates on time. | $50 |
| Payment of unpaid rates | If we receive formal demand to pay the rates you have failed to pay and we have subsequently had to make payment on your behalf. | $100 |
| Notice of unpaid insurance | If we write to you because you have failed to pay the insurance on the property we hold as security for your loan. | $50 |
| Payment of unpaid insurance | If we have to pay the insurance premium you have failed to pay so that the property we hold as security remains insured. | $100 |