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Home Loan Fees

We've done our best to minimise or eliminate as many of the fees as possible, especially upfront and ongoing fees. If you are a standard applicant, when establishing your loan, you will pay:

  • No application fees
  • No valuation fee
  • No legal fee
  • No settlement fee
  • No redraw fee
  • No ongoing fee
A standard application is for individual borrowers (ie, not company or trust borrowers) with no guarantors.
The loan is to be used to purchase a single property or to refinance a single mortgage with a standard valuation fee. Settlement to occur in a capital city CBD with allowance for 2 bank cheques.


The full schedule is below. Government fees and charges are still payable (and LMI if applicable). You might also like to see our education centre for more information.

New Applicants
Individual applicant fee $0
Valuation fee $0 for the first property for standard valuations.
A standard valuation costs $235 including GST (usually sufficient for a property up to $1million value in most metro areas). Where valuation fee is greater, difference will be paid by borrower. For construction loans click here.
For variations to existing loans, borrowers to pay valuation fees.
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. NOTE: Internet Banking is read-only for company applicants.
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 $0 for standard applications.
For non-standard applications, disbursement fees (typically $20 to $150) are payable by the borrower for items such as additional bank cheques at settlement (2 are included for free), non-metro settlement attendance, and any changes to booked settlement arrangements.
Special attendances $150 consent to 2nd mortgage. Additional valuation and documentation fees may be required
Variations
Increase in principal sum $250 processing fee, $75 Funder Settlement fee, approx. $230 Legal fee, legal disbursements (unascertainable) , valuation fee, Stamp duty (if applicable)
Small increase fee $250, with up to $220 solicitors fee, valuation fee, Stamp duty (if applicable)
Loan switching fee $250 for changes in product, limit adjustments or loan repayments types
Fixed Loan Renewal $0 if you choose to fix your loan again before the current fixed period ends. Fees and charges may apply if the current fixed period has already ended or if you make any other changes at that time.
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 processing fee, $75 Funder Settlement fee, approx. $330 Legal Fee, legal disbursements (unascertainable), valuation fees, Stamp duty (If applicable)
Changes to loan product $250
Changes to loan limit $250
Changing repayment type $250
Substitution of security $250 processing fee, $75 Funder Settlement fee, approx. $440 Legal fee, legal disbursements (unascertainable), valuation fees, Stamp duty (if applicable)
Conversion to full-doc loans $250
Other Fees
Non proceeding fee When MyRate values your house, a standard valuation from an accredited valuer costs us about $235. If you become a MyRate customer, we are very happy to absorb this cost (if the valuation is "non standard", excess valuation fees may apply). 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 $235 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 exit fee plus $280 legal fee and/or break costs
Deferred establishment fees $0

Existing customers...
Transaction Fees
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.

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how much can i borrow
MyRate Update
Friday 31st October 2014

Borrow up to 97%?

MyRate can offer a 97% LVR on purchases including capitalised LMI. Available at 5.17% variable and comparison rate.

Enquire now to find out more.

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