COMMERCIAL DIVISION MOTOR VEHICLE & EQUIPMENT COMMERCIAL PROPERTY

Transcription

1 Commercial Loans

2 COMMERCIAL DIVISION MOTOR VEHICLE & EQUIPMENT Full Doc Only Leasing Hire Purchase Novated Lease Chattel Mortgage COMMERCIAL PROPERTY Full Doc 75% SMSF 75% Lo Doc 75% Lease Doc 65% Construction 80% hard costs = 65% of G.R.V less GST

3 Contents FACT SHEETS Generic Guidelines...4 ABL Full Doc...5 ABL Lo Doc...6 ABL Lease Doc...7 AFM White Label / Lease Doc...8 Self-Managed Superannuation Funds...10 Line of Credit - Full Doc & Lo Doc...15 Short Term Flexi Loan - Full Doc & Lo Doc...17 Construction Funding...18 Merchant Mortgage No-Doc Enquiry Form to [email protected] HOW TO APPLY FOR A COMMERCIAL LOAN Download the following documents from our website under Downloads, go to Enquiry Form to be faxed to us to receive an indicative quote Application Form/AFM or Adelaide Bank as applicable See Application Checklist in the Commercial section of the Document Library on the AFM website FAX or to AFM Commercial on or [email protected] for processing Provide originals prior to settlement

4 AFM Commercial Property Finance Generic Guidelines LOAN SIZE $100,000 - $10,000,000 LOAN AMOUNT Purchase & Refinance Owner Occupier or Investor Release equity for business or investment purposes (excl. working capital) Non Coded Loans 1 st registered mortgage over Retail, Industrial or Commercial Property LOAN TO VALUE RATIO 65% - 75% MINIMUM DEPOSIT 30% Up to 25 years (P + I) or 3 yrs (Interest Only) thence P + I Please contact AFM Commercial Division for rate Varies between lenders Specialised Securities Full Doc last 2 years financial accounts i.e. Balance Sheets, Notes and Profit & Loss Account for corporate borrower PLUS last 2 years Tax Returns for Directors and also if borrower is an individual or partners. Lo Doc Self Certification / 6 months Loan Statements (all loans) / 6 months Business Banking Statements / most recent Credit Card Statements. Lease Doc Net rentals to cover interest X 1.00 times investors only. LENDER S ESTABLISHMENT FEE ONGOING OTHER EARLY REPAYMENT 0.50% - 1.5% varies with each lender. TBA + GST- Payable with the application and is refundable if approval not forthcoming. Not refundable if Up to $20 per month (ABL Smart Suite only) Up to 1.00% of loan approved + GST payable at settlement. Borrower responsible for Valuation Fees, Legal Fees, Title Insurance, Settlement Fee and disbursements. (as applicable to Lender) Variable with each lender PROPERTY LOCATION Capital Cities & Regional Areas with population > 20,000 BROKER TRAIL Introducing broker receives up to 0.50% + GST. No Clawback. From NIL up to 0.25%pa paid monthly subject to lenders guidelines.

5 ABL Full Doc Commercial LOAN SIZE $150,000 - $3,000,000 LOAN AMOUNT LOAN TO VALUE RATIO VOLUNTARY REPAYMENTS PROPERTY LOCATION OTHER BENEFITS Purchase & Refinance Owner Occupier or Investor Release equity for business or investment purposes (excl. working capital) Non Coded Loans 1 st registered mortgage over Retail, Industrial or Commercial Property Up to 75% for loans to $1m and 70% for loans in excess. 25 years (P + I) or 3 yrs Interest Only - 75% LVR or 5 yrs Interest Only 70% LVR or less thence P + I Please contact AFM Commercial Division. Variable and Fixed rates available. 1.5 times for owner-occupiers / 1.25 times for investors Specialised Securities, Vacant Land and Construction Last 2 years Balance Sheet and Profit & Loss accounts for corporate borrowers. 2 years Tax Returns for Directors and if individual borrowers. 6 months Loan Statements for all other loans. Last 6 months business banking statements or if PAYG last 6 months personal banking statements. Variable Rate: Extra principal repayments can be made at any time without penalty Fixed Rate: Maximum $20,000 p.a. (in excess of normal repayments) is permitted after which break costs may apply ABL accepted postcodes. Click Here Manual Redraw $50 per transaction Online/telephone Transacting redraw free Minimum redraw $500 Loan Splits available $100 per split REVIEWS Annual Reviews apply for all loans over $900,000 Re-valuations may be required at ABL discretion each 3 years with the Valuation Fee covered by ABL LENDER S ESTABLISHMENT FEE NIL Fee for loans up to $900, % for loans in excess of $900,000. ONGOING OTHER EARLY DISCHARGE BROKER TRAIL $990 including GST. Refundable if approval not forthcoming. Not refundable if conditionally approved or if application is withdrawn at any time after lodgement. $20 per month 1.00% of loan approved + GST payable at settlement. Borrower responsible for Valuation Fees, Legal Fees, and disbursements. Deferred Establishment Fee 1.5% of the contracted loan amount if loan discharged within 48 months of settlement. Introducing broker receives up to 0.50% + GST. No Clawback. Up to 0.10%pa paid monthly

6 ABL Lo Doc Commercial LOAN SIZE $150,000 - $2,000,000 LOAN AMOUNT LOAN TO VALUE RATIO VOLUNTARY REPAYMENTS PROPERTY LOCATION OTHER BENEFITS Purchase & Refinance Owner Occupier or Investor Release equity for business or investment purposes (excl. working capital) Non Coded Loans 1 st registered mortgage over Retail, Industrial or Commercial Property Up to 75% for loans to $1m and 70% for loans in excess. 25 years (P + I) or 3 yrs Interest Only - 75% LVR or 5 yrs Interest Only 70% LVR or less thence P + I Please contact AFM Commercial Division. Variable and Fixed rates available. 1.5 times for owner-occupiers / 1.25 times for investors Specialised Securities and Vacant Land Self Certification of Income for Company and Directors and/or personal borrowers. 6 months Loan Statements for all other loans. Last 6 months business banking statements or if PAYG last 6 months personal banking statements Variable Rate: Extra principal repayments can be made at any time without penalty Fixed Rate: Maximum $20,000 p.a. (in excess of normal repayments) is permitted after which break costs may apply ABL accepted postcodes. Click Here Manual Redraw $50 per transaction Online/telephone Transacting redraw free Minimum redraw $500 Loan Splits available $100 per split REVIEWS Annual Reviews apply for all loans over $900,000 Re-valuations may be required at ABL discretion each 3 years with the Valuation Fee covered by ABL LENDER S ESTABLISHMENT FEE NIL Fee for loans up to $900, % for loans in excess of $900,000. ONGOING OTHER EARLY DISCHARGE BROKER TRAIL $990 Incl GST - Payable with the application and is refundable if approval not forthcoming. Not refundable if $20 per month 1.00% of loan approved + GST payable at settlement. Borrower responsible for Valuation Fees, Legal Fees, and disbursements. Deferred Establishment Fee 1.5% of the contracted loan amount if loan discharged within 48 months of settlement. Introducing broker receives up to 0.50% + GST. No Clawback. Up to 0.10%pa paid monthly

7 ABL Lease Doc Commercial LOAN SIZE $150,000 - $1,000,000 LOAN AMOUNT Purchase & Refinance Release equity for business or investment purposes (excl. working capital) Non Coded Loans 1 st registered mortgage over Retail, Industrial or Commercial Property LOAN TO VALUE RATIO Up to 65% SUPPORTING INFORMATION VOLUNTARY REPAYMENTS PROPERTY LOCATION OTHER BENEFITS 25 years (P + I) or 5 yrs (Int. Only) thence P + I Please contact AFM Commercial Division. Variable and Fixed rates available times for investors based on net rental income from security properties. Lease to have 12 months to run from Settlement. Specialised Securities 6 months loan statements for all mortgages being refinanced. Full copy of Lease. Variable Rate: Extra principal repayments can be made at any time without penalty Fixed Rate: Maximum $20,000 p.a. (in excess of normal repayments) is permitted after which break costs may apply ABL accepted postcodes. Click Here Manual Redraw $50 per transaction Online/telephone Transacting redraw free Minimum redraw $500 Loan Splits available $100 per split REVIEWS Annual Reviews apply for all loans over $900,000 Re-valuations may be required at ABL discretion each 3 years with the Valuation Fee covered by ABL LENDER S ESTABLISHMENT FEE NIL Fee for loans up to $900, % for loans in excess of $900,000. ONGOING OTHER EARLY DISCHARGE BROKER TRAIL $990 Incl GST - Payable with the application and is refundable if approval not forthcoming. Not refundable if $20 per month 1.00% of loan approved + GST payable at settlement. Borrower responsible for Valuation Fees, Legal Fees, and disbursements. Deferred Establishment Fee 1.5% of the contracted loan amount if loan discharged within 48 months of settlement. Introducing broker receives up to 0.50% + GST. No Clawback. Up to 0.10%pa paid monthly

8 ABL White Label Full Doc Commercial LOAN SIZE From $150,000 to $3M (per security) LOAN PURPOSE INTEREST REPAYMENTS MAX LOAN LVR % COVER KEY FEATURES SECURITY TITLE INSURANCE PAY DOWN / REDRAW PROPERTY LOAN Purchase Refinance Owner Occupied or Investment Variable or Fixed for 1, 2, 3, 4 & 5 years P&I or Interest Only 20 years fully amortising P&I or 5 years interest only, thence reverting to 15 years P&I Up to 70% - Loans to $1.5m 65% - $1.5m to $2m 60% - $2m to $3m Full Company Financial accounts 2 years, Directors Tax Returns 2 years Full Doc - Minimum 1.5 times Set and Forget facility, NO Annual reviews, NO Re-Valuations. NO Ongoing Fees. Registered 1 st Mortgage only. Non-specialised. Strata or Torrens Title Commercial, Industrial, Retail or Residential properties. Refer Security Location Guide with Postcode Listing at the end of this fact sheet. Mandatory all securities Yes Free. Manual Redraw request $100. Variable Rate Loans only. Postcode schedule attached SPLIT LOAN Yes maximum 3 - $220 LENDER S ESTABLISHMENT FEE 0.25% VALUATION / LEGAL EARLY DISCHARGE BROKER TRAIL $990 Incl GST - Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement. Year 1 3 months additional interest (on initial loan) Year 2 2 months additional interest Year 3 1 months additional interest Note: All loans portions must remain above $10,000 or the relevant ERF will apply Introducing broker receives up to 0.50% + GST. No Clawback. Up to 0.10%pa paid monthly

9 ABL White Label Full Doc Acceptable Postcodes NSW ACT VIC QLD SA WA TAS Inner City Inner City Inner City Inner City Inner City Inner City Inner City Metro Metro Metro Metro Metro Metro

10 SMSF Loans Commercial LOAN SIZE $250,000 - $3,000,000 LOAN PURPOSE & TYPE LVR VOLUNTARY REPAYMENTS To purchase, refinance commercial property, factory units, retail. Torrens Title or Strata Title FULL DOC ONLY 65% (70% NSW only) 5 years Interest Only thence subject to rollover. Max term 10/15 years depending client s strength. P + I available at outset. Can be a combination of both. BBSY + Lenders Margin Serviceability is based on: net rental income from the purchased property, contribution to the SMSF by its members and investment income generated by other assets held by the SMSF Specialised Properties, Vacant Land, construction etc. Full financial disclosure including Balance Sheet, Profit & Loss Account and Taxation Returns for past 3 years for all entities. Personal Taxation Returns and Assessment Notices for Directors. Allowable no redraw PROPERTY LOCATION Metro and Major Regional Centres with a minimum population of approx. 50,000 Except N.T STRUCTURE DOCUMENTATION LENDER S ESTABLISHMENT FEE ONGOING LENDERS LEGAL EARLY DISCHARGE TRAIL Borrowings the SMSF Trust borrows from the Lender which together with the SMSF s contribution completes the purchase. Property Owner the Security Trust purchases the property and becomes the legal owner. Security is by way of First Mortgage over subject property, Guarantee of the Security Trustee, personal Guarantees from Directors and Fund Members Subject to Formal lease between the security holding Trust and the tenant. Trust Deeds (2) to be acceptable to Lender s Legal Dept. Legal Fees apply. 0.50% % + GST $990 Incl GST - Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement. $30 - $50 p.m. case by case TBA + disbursements NIL for variable rate loans. Break costs apply to Fixed Rate loans. Introducing broker receives up to 0.50% + GST. No Clawback. Not applicable to this product.

11 SMSF Loans - AFM White Label Commercial LOAN SIZE $250,000 - $750,000 LOAN PURPOSE & TYPE To purchase, refinance commercial property, factory units, retail. Torrens Title or Strata Title FULL DOC ONLY LVR 65% VOLUNTARY REPAYMENTS PROPERTY LOCATION STRUCTURE DOCUMENTATION LENDER S SETTLEMENT FEE ONGOING LENDERS LEGAL EARLY DISCHARGE TRAIL 5 years Interest Only thence subject to P&I Repayments. Max term 20 years depending client s strength. P + I available at outset. Can be a combination of both. Contact AFM Commercial for rates Serviceability is based on: 80% of net rental income from the purchased property, Contribution to the SMSF by its members and Investment income generated by other assets held by the SMSF Specialised Properties, Vacant Land, Construction, Commercial Units < 50 sqm Full financial disclosure including Balance Sheet, Profit & Loss Account and Taxation Returns for past 2 years for all entities. Personal Taxation Returns and Assessment Notices for Directors. Allowable no redraw Postcodes Schedule attached Borrowings the SMSF Trust borrows from the Lender which together with the SMSF s contribution completes the purchase. Property Owner the Security Trust purchases the property and becomes the legal owner. Security is by way of First Mortgage over subject property, Guarantee of the Security Trustee, personal Guarantees from Directors and Fund Members Subject to Formal lease between the security holding Trust and the tenant. Trust Deeds (2) to be acceptable to Lender s Legal Dept. Legal Fees apply. 0.60% + gst (min $ gst) $ GST- Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement. NIL TBA + disbursements Yr 1 3 months interest Yr 2 2 months interest Yr 3 1 month interest Based on original loan amounts Introducing broker receives up to 0.50% + GST. No Clawback. Not applicable to this product.

12 SMSF Loans - AFM White Label Acceptable Postcodes NSW ACT VIC QLD SA WA TAS Inner City Inner City Inner City Inner City Inner City Inner City Inner City Metro Metro Metro Metro Metro Metro

13 SMSF Non Managed Loans Commercial LOAN SIZE $250,000 - $5,000,000 LOAN PURPOSE & TYPE LVR VOLUNTARY REPAYMENTS To purchase, refinance commercial property, factory units, retail. Torrens Title or Strata Title FULL DOC ONLY 65% up to $5 million, 70% up to $2 million 5 years Interest Only thence subject to rollover. Max term up to 25 years depending client s strength. Refer to Commercial Division Serviceability is based on: 100% of rental income from the purchased property, contribution to the SMSF by its members and investment income generated by other assets held by the SMSF Specialised Properties, Vacant Land, construction etc. Evidence of funds in Superfund Copy of lease min 2 years to run Superfund financials if trading *Additional financial information may be requested from members Allowable no redraw PROPERTY LOCATION Metro and Major Regional Centres with a minimum population of approx. 50,000 Except N.T STRUCTURE DOCUMENTATION FINANCIAL ADVICE LENDERS ESTABLISHMENT FEE ONGOING LENDERS LEGAL EARLY DISCHARGE TRAIL Borrowings the SMSF Trust borrows from the Lender which together with the SMSF s contribution completes the purchase. Property Owner the Security Trust purchases the property and becomes the legal owner. Security is by way of First Mortgage over subject property, Guarantee of the Security Trustee, personal Guarantees from Directors and Fund Members Subject to Formal lease between the security holding Trust and the tenant. Trust Deeds (2) to be acceptable to Lender s Legal Dept. Legal Fees apply. Financial Planner, Legal or Auditor advice not required. 1.25% % + GST $990 incl GST Payable with the application and is refundable if approval not forthcoming. Not refundable if 1% + GST of loan amount. Payable at settlement. NIL TBA + disbursements 3 months interest for variable rate loans. Break costs apply to fixed rate loans + 3 months interest. Introducing broker receives up to 0.50% + GST. No Clawback. Not applicable to this product.

14 Commercial SMSF Loan LOAN SIZE $150, $3,000,000,00 LOAN PURPOSE & TYPE To purchase or refinance office, retail and industrial properties. LVR P&I - Up to 75% Interest Only 70% VOLUNTARY REPAYMENTS 5 Years interest only thence subject to P&I repayments. Max term 25 years depending on client s strength. Contact AFM commercial team for rates. Serviceability is based on1.5 times cover: Net rental income from the purchased property Contribution to the SMSF by its members Investment income generated by other assets held by the SMSF Specialised Properties, Vacant Land, Construction, Commercial units <50 sqm. Evidence of funds in Superfund Copy of lease min 2 years to run Superfund financials if trading *Additional financial information may be requested from members Allowable no redraw PROPERTY LOCATION Minimum population 50,000 STRUCTURE DOCUMENTATION LENDERS ESTABLISHMENT FEE ONGOING LENDERS LEGAL EARLY DISCHARGE TRAIL Borrowings the SMSF Trust borrows from the Lender which together with the SMSF s contribution completes the purchase. Property Owner the Security Trust purchases the property and becomes the legal owner. Security is by way of First Mortgage over subject property, Guarantee of the Security Trustee, personal Guarantees from Directors and Fund Members Subject to Formal lease between the security holding Trust and the tenant. Trust Deeds (2) to be acceptable to Lender s Legal Dept. Legal Fees apply. 1.0% plus GST up to $1.25m thereafter 0.85% plus GST (min $5,000 plus GST) Commitment fee is 50% of total Establishment Fee.Includes Valuation, Legal, Title Insurance & Settlement Fees (any variance to scale legal & valuations fees to be met by the borrower) $990 incl GST Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.0% plus GST. Payable at settlement. NIL Included in lenders establishment fee. Standard early termination fees apply for the first 5 years. Included in lenders establishment fee Introducing Broker receives 0.50% + GST after settlement. 0.15% p.a. paid monthly.

15 Line of Credit LOAN SIZE Up to $500,000 as a fully fluctuating Line of Credit minimum borrowing including LOC and other facilities is $200,000 LOAN PURPOSE & TYPE LVR Up to $5 million on combined borrowings Purchase & Refinance Owner Occupier or Investor Non Coded Loans 1 st registered mortgage over Retail, Industrial or Commercial Property Available on Full Doc, LDoc & QDoc 25 years and up to 5 year Term on Line of Credit with NO REVIEWS FULL DOC 75% LVR 2 years Tax Returns / financial statements Term up to 5 years revolving Max borrowing $5m / LOC portion $500k LDOC 70% LVR Income certification + accountant s letter Term up to 3 years revolving Max borrowing $2m/LOC portion $500k QDOC 65%LVR Income self-certification Term up to 3 years revolving Max borrowing $2m/LOC portion $500k PROPERTY LOCATION ACCOUNT OPERATIONS Up to 5 years no annual reviews Please contact AFM Commercial Division for rate Full Doc 1.5 times interest cover, LDoc 1.75 times, QDoc 2 times Specialised Securities Capital Cities & Regional Areas with population > 20,000 (excluding NT) for Full Doc and > 50,000 for Lite Doc and Quick Doc Interest rate calculated daily Interest payable monthly in arrears by Direct Debit Withdrawal Requests By , Fax, Phone note that phone requests must be followed up with written confirmation Withdrawal processing same day EFT if instructed by 1:00pm Deposits EFT, BPay, Cheque (allow 3 days to clear) Annual Reviews only if conduct outside terms End of Term Rollover subject to updated information IMPORTANT NOTE: This product does not offer full transactional banking capabilities and is intended for borrowers who require a moderate level of flexibility within their borrowings LENDERS ESTABLISHMENT FEE ONGOING 0.65% (MIN $2,000) PLUS GST $990 incl GST Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement Quarterly Line Fee 0.30%pa (min $75 per quarter). Payable to lender

16 Line of Credit LENDERS LEGAL EARLY TERMINATION TBA + disbursements NIL ROLLOVER (NEW TERM) 0.30% plus GST (min $1,000) BROKER TRAIL Introducing broker receives 0.50% + GST after settlement. No Clawback. Up to 0.15% pa paid monthly calculated on minimum monthly LOC balance

17 Short Term Flexi Loan - Full Doc & Lo Doc Commercial LOAN SIZE Min. $150,000 to $5m Full Doc and $2m LoDoc LOAN PURPOSE & TYPE LVR VOLUNTARY REPAYMENTS PROPERTY LOCATION OTHER BENEFITS LENDERS ESTABLISHMENT FEE ONGOING LENDERS LEGAL EARLY TERMINATION BROKER TRAIL Purchase, Refinance & Equity Release. Owner Occupier or Investor. Up to 75% Full Doc and 70% Lo Doc 6 months 36 months Please contact AFM Commercial Division for rate Full Doc 1.5 times and LoDoc 1.75 times Specialised Securities Full Doc Two years full financials etc. Tax Returns for Directors or Individuals. LoDoc Accountant s Letter and Self Certification for Individuals and Company. 6 months business banking statements. Full Doc & Lo Doc 6 months Loan Statements for all other Loans and Last Credit Card Statement. As required subject to Early Discharge comments Minimum Population 50,000. NT excluded. Progressive drawdowns allowed. Redraw $2000 min. No annual reviews and no re-valuations subject to account conduct. Option to convert loan to a longer term facility at end of initial loan term. 0.65% + GST (Min. Fee payable $ GST) $990 incl GST Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement NIL TBA + disbursements NIL early repayment fee after first 6 months. Any principal repayment within first 6 months attracts one month s additional interest. Introducing broker receives 0.50% + GST after settlement. Up to 0.15% pa + GST paid monthly.

18 Construction Funding Commercial LOAN SIZE $500,000 to $1,500,000 (refer to AFM for larger loans) LOAN PURPOSE & TYPE LVR PROPERTY LOCATION LENDERS ESTABLISHMENT FEE PROGRESS PAYMENT OTHER BROKER TRAIL Land purchase & construction Max 6 Residential Units or Small Commercial Non Coded Loans 1 st registered mortgage over Security Property 65% of end value less GST for residential & commercial developments Loan amount not to exceed 80% of cost (land value & construction contract) May consider larger loans $1.5 million to $3 million Up to 2 years Please contact AFM Commercial Division. Specialised Securities, Land Subdivisions (including Residential Blocks) Self-Certification of Income and accountants letter Metropolitan Locations 1.25% TO 1.75% + GST $1500 Including GST Payable with the application and is refundable if approval not forthcoming. Not refundable if 1.00% of loan approved + GST payable at settlement On a cost to complete basis Borrower responsible for Valuation Fees, Legal Fees, Quantity Surveyor fees (for loans over $750k) and disbursements. Introducing broker receives 0.50% + GST after Settlement. Not applicable

19 AFM No-Doc Commercial For Sydney - Brisbane - Melbourne Only LOAN SIZE $100,000 to $1,000,000 LOAN PURPOSE & TYPE LVR Purchase or Refinance Owner Occupier or Investor 1 st registered mortgage over warehouses, factory units, offices and retail space 60% MAX Up to 25 years, including up to 7 years IO LVR 1-YR Fixed 2-YR Fixed 3-YR Fixed Variable >50-60% 7.80% 7.90% 8.00% 8.60% to 50% 7.40% 7.50% 7.60% 8.20% *Current as at 27/07/2015 CREDIT HISTORY VOLUNTARY REPAYMENTS OTHER BENEFITS Must be absolutely clear. NO exceptions, even for small telcos. Specialised securities, vacant land, rural, construction and business finance. Strata minimum size 50 square meters. Nil for owner occupiers; i.e., no BAS, no bank statements, no accountant s letter. Must show minimum $500,000 net assets on A&L statements Copy of lease for investors Loans statements x 8 months required for all property loans Latest credit card statement/s required Allowable only on P&I loans up to 25% without penalty. Redraw available. No regular reviews No re-valuations No rollover hurdles No minimum ABN term ACCEPTANCE FEE ONGOING OTHER $990, payable with the application. (Refundable in full if we do not get an approval) 1.5% + GST, payable as to 50% on acceptance of conditional letter of offer and balance at settlement NIL Lenders legal fees and disbursements for borrowers account, paid at settlement EARLY DISCHARGE (ERF) 3 month s interest for years month s interest for years 4 & 5 NIL thereafter Fixed rate ERF differs BROKER TRAIL TBA when loan assessed for borrowers account on acceptance of letters of offers. 0.50% + GST paid after settlement. No clawback. 0.10% p.a paid monthly