SCHEDULE OF LOAN FEES AND CHARGES

EFFECTIVE DATE 15 MAY 2017

COASTLINE CREDIT UNION COSTS

Loan Establishment Fee (Cost to process loan application and establish loan)

  • Standard Variable Rate Home Loan (No Fee Home Loan) $Nil
  • Reverse Mortgage (includes Credit Union solicitors & valuation costs) $1,200
  • All Home & Residential Investment Loans $200 (including 6 month Introductory Rate Option Loan, Classic, Options, Minimiser, Equity Access, Fixed Rate, Investment Essentials, Investment Options & Interest Only Home Loans)
  • All Home & Investment Loans – Top-Up $200
  • All Personal Loans, Car Loans, Personal Overdrafts & Line of Credit $200
  • Performance Guarantee $200 Minimum or 1.00% of outstanding limit
  • Business Loans (available on application) Sliding Scale

Loan Administration Fee (Cost of maintaining the account)

  • Standard Variable, Interest Only, Reverse Mortgage and Business Loans $Nil
  • Home & Residential Investment Loans $8 per month (including 6 month Introductory Rate Option Loan, Classic, Options, Minimiser, Fixed Rate, Investment Essentials & Investment Options)
  • Home Equity Access $5 per month
  • All Personal Loans, Car Loans, Personal Overdrafts & Line of Credit $Nil
  • Performance Guarantee $200 Minimum or 1.00% of outstanding limit annually

Settlement Disbursement Fee (Cost of disbursing the loan at drawdown)

  • All loan types $15 per Bank Cheque, $20 per EFT or Real Time Transfer required

Renegotiation Fee (Cost to vary original loan contract Terms & Conditions)

  • All home/investment/business loans $150
  • Personal Loans, Overdrafts & Line of Credits $150

Loan Redraw Fee (Cost to redraw available funds in loan account)

  • All loan types - Electronic $Free
  • All loan types - In branch assisted $20

Discharge of Mortgage Security (Cost to prepare discharge of mortgage from title documents)

  • Discharge of Mortgage $110 (NOTE: Third party Solicitors cost may also be payable if required to attend settlement for sale of a property or requested to register the discharge at the Land Titles Office)

Loan Switching Fee (Cost to transfer between loan options)

Fixed Rate

  • Fixed Rate to Standard Variable $150
  • Refixing Rate (at end of fixed rate period) $150
  • Fixed Rate to Options or Minimiser $400

Standard Variable Rate Home

  • Standard Variable Rate to Fixed Rate, Minimiser, Options or Home Equity Access $400

Standard Variable Rate Investment

  • Standard Variable Rate to Fixed Rate, Investment Essentials or Investment Options $400

Options Home/Investment Loan

  • Options to Fixed Rate, Minimiser or Home Equity Access $400
  • Options to Standard Variable Rate $150

Minimiser Home Loan

  • Minimiser to Fixed Rate, Options or Home Equity Access $400
  • Minimiser to Standard Variable Rate $150

Investment Essentials Loan

  • Investment Essentials to Fixed Rate or Investment Options $400
  • Investment Essentials to Standard Variable Rate $150

Home Equity Access

  • Home Equity Access to Fixed Rate, Minimiser, Options or Standard Variable Rate $400

Introductory Rate Option Home Loan

  • Introductory Rate Option Home Loan to any other home loan type $600

Classic Home Loan

  • Classic to Minimiser, Options, Standard Variable, Fixed Rate or Equity Access $150

Loan Arrears Enforcement Fees

  • Manual Arrears Transfer Fee $5
  • Email/SMS/Telephone Arrears Reminder Fee $5
  • Arrears Notice Fee $25 (payable for every letter – first & subsequent - or notice sent in relation to a loan default)
  • Final Notice of Demand $40
  • Enforcement Expenses (the amount of any costs the Credit Union has to pay to our Solicitor/Law Stationers for acting for us in connection with the recovery of any amounts owing when a default is established). $Not Ascertainable

Inward Dishonour Fee (When a payment made to the loan account is dishonoured)

  • Direct Debit/Salary Deduction/Cheque $15 per item

THIRD PARTY PROVIDER FEES

  • Solicitors Costs (Cost to Coastline Credit Union for services described below. Does not cover member’s legal costs for conveyancing or document explanation)
  • Preparation of mortgages (preparation, registration & attend settlement) $330 per mortgage
  • Upstamp Mortgage (applies to certain top up loans only) $37.40
  • Preparation of discharge of mortgage (single title) and attend settlement on behalf of the Credit Union $198 (applies to loans being paid out on sale of mortgaged property)*
  • Preparation of discharge of mortgage and arrange registration through PEXA and the State’s Lands Title Office of the property location (applies to loans paid out in full)* $330

* Fee based on single Certificate of Title being discharged. Additional Certificate of Title costs on application.

  • Self-Manager Superannuation Fund document review fee $825

Personal Property Security Interest Fee (Cost for search and registration of personal property security interest over car, boat, caravan, etc on the Personal Property Security Register)

  • Variation, Search & Registration Fee $33 per interest

Valuation Fees (Cost to obtain a registered valuation on mortgaged property)

  • Details available on application. Cost not ascertainable as variable. Dependant upon property size, location and usage.

Property Search Fee (Cost to perform a search on single a Certificate of Title.)

  • NSW Titles $20
  • All other state’s titles $25

Lender’s Mortgage Insurance (Insurance premium to cover loan borrowings above normal Credit Union lending policy).

  • Details available on application. Cost not ascertainable as variable. Dependant upon loan to property valuation ratio on each loan.

 

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