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Our philosophy for charging fees to our customers is really simple. We don’t like to!
With the homestar Securimax loan there are:
No application fees
No redraw fees
No ongoing fees
Fees and charges that may be applicable to you are set out below:
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FEES
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homestar Securimax Loan
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homestar Fleximax Loan
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homestar Equitymax Line of Credit
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homestar low doc
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Credit Impaired
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General
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Application
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Nil
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Nil
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750
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750
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990
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Monthly Ongoing
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Nil
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Nil
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Nil
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Nil
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Nil
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Annual
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Nil
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395
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Nil
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Nil
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Nil
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Redraw
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Nil
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Nil
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Nil
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Nil
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25
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Legal*
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375
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Nil
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375
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375
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Nil
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Valuation**
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220
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Nil
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220
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220
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Nil
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Settlement
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Nil
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Nil
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250
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250
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Nil
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Loan Risk Fee
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Nil
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Nil
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Nil
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Nil
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Yes
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Deferrd Administration Fee***
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60 months
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Nil
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60 months
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60 months
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36 Months
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Non Proceeding Fees
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Cancellation of Settllement*****
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395
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Nil
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395
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395
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Note: A full list of all fees are disclosed in the mortgage documentation.
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* This is an estimate of average legal fees and may vary depending on loan structure.
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** This is an estimate of average valuation fees and may vary (usually sufficient for a property of up to $1million value in most metro areas).
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*** If the loan is discharged within 60 months of the settlement date a Deferred Administation Fee is payable as outlined below:
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Within 12 months of the settlement date; 1.00% of the original loan amount.
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More than 12 months after the settlement date but before 24 months after the settlement date; 0.80% of the original loan amount.
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More than 24 months after the settlement date but before 36 months after the settlement date; 0.60% of the original loan amount.
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More than 36 months after the settlement date but before 48 months after the settlement date; 0.40% of the original loan amount.
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More than 48 months after the settlement date but before 60 months after the settlement date; 0.20% of the original loan amount.
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More than 60 months after the settlement date; nil
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On Fleximax loans discharged a Security Discharge fee of $400 is payable. On all other loans discharged a Security Discharge Fee of $350 is payable
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**** This fee is payable in the event that settlement is cancelled by anyone other than Homestar.
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