IMPORTANT:Over 95% of our customers pay NO FEES for our services! Please contact us for more information.
If your loan is declined:
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 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. If you think this may be a problem then we may be able to apply with a lender that does not have clawback.
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.
