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Loan Fees & Charges

Please Note: Fees & Charges Effective 1 July 2016

The following loan fees apply once your loan has been approved and you agree to proceed:

Loan Establishment Fee
Mortgage Secured Loan $400.00
Variation Loan (Mortgage) $275.00
Personal Loan $95.00

Variation Loan (Personal)

Mortgage Secured Transfer Fee ( payable if you change from one loan type or rate to another)

$95.00

$400.00

The following loan fees may apply. You should check with your Credit Union to confirm what fees will apply.
Search Fee $17.90
Payable when a title search is required for a mortgage.
Stamp Duty on Mortgage At Cost
Currently $5 for the first $16,000 plus $4 per $1000 thereafter.
Lenders Mortgage Insurance At Cost
Payable when you require an amount of credit that exceeds our normal lending margins.
Registration of Mortgage $138.80
Payable when a mortgage is lodged at the LPINSW for registration.
On-line Legal Costs $6.60
Payable per document when legal documents are accessed online.
Bank Cheque / EFT $12.00
Payable when we are required to provide funds for settlement (mortgage)
Solicitors Costs At Cost
Payable for the handling of mortgage documents.

Break Costs (Only applicable to Fixed Rate Loans)
A fee charged when a fixed rate is broken (by closing the loan or breaking the contract by converting to another annual interest rate or prepay part or all of the outstanding loan) to cover the Credit Union's loss incurred as a result of differences in interest rates between the start of the fixed rate contract and the day that the contract is broken.

Variable

Local Family Banking Home Loan Annual Package Fee
Payable from the member's Home Loan at time of loan settlement and annually upon anniversary date.

$350.00

Deferred Establishment Fee:
Payable if you repay your mortgage secured loan within the first 4 years. The Fee is calculated based on the total amount of fees waivered (where applicable) at the time of your loan settlement.


Property Valuation Fees
Residential up to $500,000 $220.00
$501,000 to $1,000,000 $330.00
$1,000,000 and above Valuer to quote
Restricted Valuation $55.00
Progress Payments $99.00
Rural Property Valuer to quote
Non-Central Coast Valuer to quote
Personal Property Securities Register
Payable if and when loan security is required.
Registration of Interest $6.80
Variation of Interest $6.80
Enquiry $3.40
Dishonour Fee $9.00
Payable when an attempted cheque loan repayment is dishonoured.
Production of Title $138.80
Payable to LPINSW to transfer a Certificate of Title.
Mortgage Discharge Fee $138.80
Payable to LPINSW when you request a discharge over mortgaged security.
Arrears Letter Fee $10.00
Payable when we send you a arrears letter asking you to remedy a default under a loan contract.
Default Notice Fee $30.00
Payable when we send you a default notice under a loan contract when a default remains un-remedied after we have sent you a arrears letter.