Our fees

IMPORTANT:

For most loans we charge absolutely NO FEES! Please contact us for more information.

If your loan is declined:

It's a deal!If either we decline to take on your loan or the lender we choose declines the loan then there are no fees payable by you unless you have a problem with your credit history that you did not tell us about or provided us with false or misleading information.

If you get preapproved and do not proceed:

If we have successfully obtained a preapproval for your loan and you do not buy a property before the preapproval expires then we will charge you a fee of $300. This will be refunded if you obtain a loan with us in the future.

If you withdraw your application:

If you have signed our brokerage agreement and then decide to withdraw your loan application or not to proceed with a loan using our services then we will charge you a fee of $300.

If you are using other brokers or lenders:

We work on an exclusive basis only. If we find out that you have applied for a loan with another mortgage broker or lender whilst using our services then we will charge you a fee of $300. Working with multiple lenders at the same time damages your credit history and can greatly reduce your chances of approval.

If your credit history is not clear:

If you have a default / judgement / court writ or bankruptcy listing on your credit file that you did not tell us about then we will charge you a fee of $300. If you are unsure then let us know and we will do a free credit check.

If you provide us with false information:

If you provide us with any false or misleading information we will charge you a fee of $300.

If your loan is under $200,000:

For loans under $200,000 we charge a brokerage fee because lenders pay us significantly less than for other loans.

  • Loans under $150,000: $2,500 brokerage fee.
  • Loans between $150,000 & $199,999: $1,500 brokerage fee.

This fee is payable when your loan is advanced.

If you repay the loan within 18 months:

If you repay the loan in the first 18 months after settlement then the lender may charge us a fee known as clawback because we have introduced an unprofitable loan. Clawback can be up to 0.77% of the loan amount in the first year or 0.385% of the loan amount in the following 6 months. If we are charged this fee then we will in turn charge this to you.

Would you like to know more?

Please don’t hesitate to contact our mortgage brokers if you have a question about our fee structure. As you can see for most loans there are no brokerage fees.