Lender Commissions

The following table lists the typical rates of commission paid by lenders to mortgage brokers.



Adelaide Bank
Upfront 0.55 No special conditions.
Trail 0.165 No special conditions.


AMP
Upfront 0.715 Base Upfront 0.66% Affinity, Alliance and Select products will be paid at 0.33% Upfront. All products include an online Lodgment Bonus 0.055%.
Trail 0.187 Affinity, Alliance and Select products will be paid Trail at 0.165%


ANZ
Upfront 0.6875 Base Up Front 0.55% Sales Volume Incentive 0.0825% Conversion Incentive 0.0275% Online Submission Incentive 0.0275% Loan Size Adjustment 0.055% < $100K = -0.055% $100k to < $250K = 0% $250K to < $400K = + 0.0275% > $400K = + 0.055% Based on total customer borrowings Lines of Credit – 75% of the approved limit.
Trail 0.22 Trail in the first 3 years is 0.165% increasing to 0.22% in year 4 and beyond.


BankWest
Upfront 0.55 Commission of 0.55% effective on loans settled on or after 1 March 2009 Commission is calculated and capped on a maximum loan of $3 million.
Trail 0.275 Trail effective on loans settled on or after 1 March 2009. Year 1 = 0.165% Year 2 = 0.165% Year 3 = 0.22% Year 4 = 0.2475% Year 5 + = 0.275%


Bluestone
Upfront 0.66 Upfront varies from 0.66% – 1.21% depending on product category:- Bronze – 0.66% Silver – 0.77% Gold – 1.21% 0.66% only being paid on increased loans only.
Trail 0.33 Trail varies from 0.33% to 0.55% depending on product category:- Bronze – 0.33% Silver – 0.44% Gold – 0.55%


Citibank
Upfront 0.715 Lines of Credit Upfront calculated on 70% of approved credit limits.

Upfront commission payable for loans above $1million to $3million is 0.385%
Trail 0.165 No special conditions.


Collins Securities
Upfront 0.66 No special conditions.
Trail 0.275 No special conditions.


Commonwealth Bank
Upfront 0.6325 Base Upfront of 0.55% Submission Quality = 0.055% Conversion Ratio = 0.0275% Lines of Credit Upfront is calculated on 75% of the Approved Limit.
Trail 0.22 Nil trail within the first 12 months then 0.22% trail from year 2 onwards.


FirstMac
Upfront 0.77 No special conditions.
Trail 0.275 No trail on the Fightback Premium Fixed loan in the first year then 0.165% payable in second year and beyond.


GE Personal Loans
Upfront 2.75 2.75% of the loan amount to a maximum of $1300.


Homeloans Limited
Upfront 0.715 No special conditions.
Trail 0.165 0.165% on all products except the Premium Saver. Trail is capped at 0.11%.


Homeside Lending
Upfront 0.715 Commissions range between 0.55% and 0.715% based on a Star Rating system which are on automatic 6 monthly reviews Lines of Credit are calculated on 75% of the Approved Limit
Trail 0.22 Year 1 = 0%; Year 2 = 0.165%; Year 3 = 0.22%; Year 4 = 0.275%; Year 5 = 0.33%; Year 6+ = 0.385.


ING Direct
Upfront 0.60 Base up front 0.545%.
Trail 0.20 Year 1-3 = 0.15%; Years 4 and above 0.20%.


Keystart Home Loans
Upfront 0.44 No special conditions.
Trail 0.11 No special conditions.


LaTrobe Financial
Upfront 0.275 Upfront varies from $500 to 0.55% depending on product and the Application Fee paid by the client. Premium Full Doc facilities paid at $300 per facility.
Trail 0 Trail is to be included in borrower rate maximum of 0.40%


Liberty Financial
Upfront 0.55 0.55% relates to the Star/Nova Products. Liberty Care Product – 50% Upfront of the Application Fee – No Trail (Application Fee of a max 1% or $1,000).
Trail 0.22 0.22% relates to the Star/Nova Products.


Loan Ave
Upfront 0.88 0.88% up front on the non-conforming products.
Upfront 0.825 Premium products have two options: 0.55% Option 1 & 0.825% Option 2 Advantage attracts 0.77% upfront and Flexi attract 0.55% up front.
Trail 0.275 Applies to all products except for Advantage and Flexi.


Macquarie Bank Mortgage Solutions
Upfront 0.66 No special conditons.
Trail 0.175 No special conditions.


National Australia Bank
Upfront 0.66 Lines of Credits calculated at 60% of the Approved Limit
Trail 0 No special conditions.


Paramount Mortgage Services
Upfront 0.77 Varies on product type ranging from nil to 0.77%
Trail 0.275 Varies on product type ranging from nil to 0.0275%


Pepper Home Loans
Upfront 0.66 No special conditions.
Trail 0.22 No special conditions.


St George
Upfront 0.66 Base upfront commission is 0.55% with the option to add; 0.11% if conversion ratio >70% is achieved This figure is based on an individual level.
Trail 0.22 Base trail of 0.165% with the a bonus of 0.055% to trail if run-off rate <15%p.a.


Suncorp
Upfront 0.66 TARGET BUSINESS Base Up Front 0.495% Conversion Incentive 0.0825% Electronic Submission Incentive 0.055% File Quality Incentive 0.0275%
NON-TARGET BUSINESS 0.00% Upfront FIXED RATE LOANS 0.33% Upfront
Trail 0.275 TARGET BUSINESS Nil trail year 1 0.22% trail applies to years 2 and 3 0.275% trail applies to years 4 and thereafter.
NON – TARGET BUSINESS Nil trail year 1 0.22% trail applies to years 2 and 3 0.275% trail applies to years 4 and thereafter.
FIXED RATE LOANS Nil trail year 1 0.11% trail applies to years 2 and 3 0.165% trail applies to years 4 and beyond


The Rock Building Society
Upfront 0.605 No special conditions.
Trail 0.22 No special conditions.


Westpac Bank
Upfront 0.55 For Lines of Credit, Upfront is paid on 75% of the Approved Limit
Trail 0.165 No special conditions.



Commission Rates include GST and Trails are stated as a per annum figure. These rates of commission should only be used as a guide. These rates are effective at 05/10/2010.

Comments are closed.

close