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?
For our most current fee schedule please refer to our main websites section on mortgage broker fees. If you have a question about our fee structure please contact us. As you can see for most loans there are no brokerage fees.
