| NEW APPLICANTS |
| Individual applicant fee |
$0 |
| Valuation fee |
$0 for the first property for valuations up to $220 including GST (usually sufficient for a property up to $1million value in most metro areas). Where valuation is greater, difference will be paid by borrower. For construction loans click here |
| Additional valuation fee |
$275 per each additional security (usually sufficient for a property up to $1million value in most metro areas). Where valuation is greater, difference will be paid by borrower. |
| Guarantee fee |
$220/Guarantee – For applications where a 3rd party guarantor is required |
| Company applicant fee |
$220/Company applicant |
| Trust applicant fee |
$220/Trust applicant |
| Power of Attorney fee |
$220 – For applications where a Power of Attorney is used to execute documentation |
| Company title fee |
$495 – Payable if the apartment to be purchased is under a Company Title (as opposed to a Strata title) |
| Legal fee |
$0 |
| Re-work fee |
$110 – Charged if application details have been changed after submission (i.e. product change etc) |
| Re-documentation fee |
$110 – Charged if loan details are changed after the loan documents have been produced |
| Settlement fee |
$0 |
| Legal disbursements |
$115 - $250 - Depending on the number of securities, bank cheques required and the settlement location |
| Special attendances |
$150 consent to 2nd mortgage. Additional valuation and documentation fees may be required |
| VARIATIONS |
| Increase in principal sum |
$250, $75 Funder Settlement fee, $220 Legal fee, valuation fee (if applicable), Stamp duty (if applicable) |
| Small increase fee |
$250, $80 solicitors fee, valuation fee (if applicable), Stamp duty (if applicable) |
| Loan switching fee |
$250 for changes in product, limit adjustments or loan repayments types |
| Additional statement copy |
$7 per statement page |
| Default fees |
$100 for each month account remains above $200 in arrears |
| NIVA Increase/Reduction |
$250 |
| Addition of Security |
$250, $75 Funder Settlement fee, $330 Legal Fee, Valuation fees (if applicable), Stamp duty (If applicable) |
| Changes to loan product |
$250 |
| Changes to loan limit |
$250 |
| Changing repayment type |
$250 |
| Substitution of security |
$250, $75 Funder Settlement fee, $375 discharge fee, $440 Legal fee, valuation fees, Stamp duty (if applicable) |
| Conversion to full-doc loans |
$250 |
| OTHER FEES |
| Non proceeding fee |
When MyRate values your house, an accredited valuer costs us about $220. If you become a MyRate customer we are very happy to absorb this cost. However if, after we've done the valuation, you do not become a customer (you decide not to proceed or final credit requirements aren't met) we will need to recoup the cost (usually $220 but may be more in some cases). Additional fees of approx $175 may apply if contracts have already been prepared. |
| EXIT FEES |
| Discharge fees |
$250 plus legal fees($250) and any deferred establishment fee and/or break costs |
| Deferred establishment fees |
Year 1: 1.00% of the original loan amount
Year 2: 0.80%
Year 3: 0.60%
Year 4: 0.40%
Year 5: 0.20%
6+ years: 0.00%
No DEF or penalty fees will apply to most standard variable loans if you pay down your loan but do not discharge your property. |
| TRANSACTION FEES |
| Withdrawals, deposits, cheques and redraws fees |
Funding and operation of your account is provided by ING Bank (Australia) Limited. Currently ING does not charge any transaction fees but there is provision to do so in the future should they decide to. |
| Additional repayments |
$0 for unlimited extra repayments on variable rate loans
$0 for repayments of up to $10k p.a. for fixed rate loans (break fees may apply for amounts greater than this) |
| ATM Fees |
Direct ATM charge fees for use of your NIVA card at an ATM will NOT apply and will be refunded, where the transaction is for loan balance enquiries and for ATM withdrawals over $200. If your withdrawal is less than $200 from an ATM, the direct ATM fee (whatever amount, depending on the ATM) will not be refunded.
$0 to use retailer EFTPOS facilities to withdraw cash from your All In One Loan. |