Price a scenario with your brokerage in it
Enter your fee as a percentage or a dollar amount. It is added to the loan, so the client receives what they asked for and the facility is larger by your fee — and you can see the advance, the facility and the total repayable before you put anything to them.
- Advanced to the client
- $250,000
- Your brokerage, added to the loan
- $5,000
- Loan facility
- $255,000
- Interest, capitalised monthly
- $23,828
- Establishment fee
- $2,500
- Legal & disbursements
- $1,485
- Exit fee
- $0
- Total cost
- $32,813
- Repayable at end of term
- $282,813
- Cost per $100,000 borrowed
- $13,125
- Equivalent annualised cost
- 26.3% p.a.
Indicative only, and not an offer of credit. Interest is calculated as capitalising monthly on the facility. The equivalent annualised cost is shown so products quoted on different bases can be compared; it is not a comparison rate under the NCCP Act, which does not apply to business-purpose lending.
How the brokerage sits in the loan
When brokerage is added to the loan rather than paid separately, three numbers matter and they are not the same number. The advance is what reaches the client. The facility is the advance plus your fee, and it is the balance interest accrues on. The total repayable is the facility plus interest and the other costs of the transaction.
The calculator shows all three, in that order, because the difference between them is exactly what a client will ask about when they read the loan documents. Being ready for that question is worth more than a tidier-looking quote.
What to have in front of you
- The security and what is already owed against it. We lend to 80% of value on residential and 70% on commercial, counting existing debt. Vacant land is assessed case by case at a lower ceiling.
- The purpose. It has to be a genuine business or commercial investment purpose.
- The exit. A contract of sale, a refinance in progress or a trade debtor with a date beats an intention, and it is usually what decides how fast the file moves.
- How long they really need it. Our term is open — no minimum, no maximum, no extension fee and no penalty for repaying early — so the term in the calculator is for comparison, not a commitment you have to make on their behalf.
Every figure in the calculator is one you type in, including the rate. We do not publish a rate because pricing is per file. Send the scenario and you will get a real number from a Lending Manager, usually the same day — how that works, or 1300 93 83 87, Mon–Fri, 8:30am – 5:30pm Melbourne time.
Reviewed by Paul Stone, Joint Chief Executive