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No Fees Here
Happy days. We do not charge a fee for our services.
How do we get paid?
We do not charge a fee for our services because we receive part of the commission paid by the lender when we complete a loan application that goes through to settlement.
How much commission your chosen lender pays will be detailed in the credit quote you receive from us. This way you know up front what is being paid by the lender for arranging your loan.
If we help you but that does not result in us completing a loan application that settles then we will receive no payment for our services.
If we organise a loan for you then you repay the loan or refinance the loan within two years of settlement most lenders will request some or all of the commission that they paid us back. This is called Clawback.
The upfront commission is usually paid after your loan has settled.
Most lenders pay an upfront commission of around 0.72% of the loan amount.
On a $200,000 loan, the upfront commission would typically be around $1,440.
The trail commission is usually paid each month after the loan has settled.
Most lenders pay a monthly trail commission of around 0. 018% of the loan amount.
On a $200,000 loan, the monthly trail commission would typically be around $37.
When you repay or refinance your loan this trail commission will stop being paid.
Most lenders will stop paying trail commission if you fall behind on your repayments.