The following fees and charges may apply to all home loans.
These should be read in conjunction with the fees and charges specified for the product on their individual product pages.
Administration fees
| Fee type | Fee amount |
|---|---|
| Loan Establishment Fee | $0.00 |
| Document Preparation Fee Fee for preparation of loan contracts charged at the time of funding or settlement of the loan. |
$300.00 |
| Title Consent Fee Payable when we are requested to consent to a change relating to your title. |
$150.00 |
| Valuation Fee | |
| First valuation | Free |
| Additional valuations | At cost to BCU* |
| Lenders Mortgage Insurance LMI is insurance that protects the bank if the borrower/s are unable to make home loan repayments. LMI is required when a borrowers deposit is generally less than 20% of the property value plus other government fees. Please see our fact sheet for details. |
At cost to BCU* |
| Legal Fee Payable at cost when legal advice or services are required over the life of the loan. |
At cost to BCU* |
| Third Party Document Production Fee Payable at cost if the Bank incurs costs or had to pay a third party in connection with something that needs to be done under the Loan or Security. |
At cost to BCU* |
| Discharge of Mortgage Fee | |
| First security | $395.00 |
| Each additional security discharged | $195.00 |
| Loan Contract Variation Fee Charged when we process a variation of your contract or any security such as; substitution, partial release, additional or transfer of security, amendment to the term of a loan or a loan account. |
$250.00 |
| Loan Account Switching Fee Charged for switching your home loan to a different product on your request. |
$300.00 |
| Withdrawal of Caveat Fee | |
| Without settlement (per document) | $55.00 |
| With settlement (per document) | $160.00 |
Construction loan charges
| Fee type | Fee amount |
|---|---|
| Construction Progress Payments Fee (per drawdown) | $25.00 |
General fees
| Fee type | Fee amount |
|---|---|
| Default Notification Fee Payable at cost when we issue a default notice because you are in default under the contract. |
At cost to BCU* |
| Late Payment Notification Fee When payment to a home loan becomes overdue by 11 and 30 days. |
$5.00 |
| Management Administration Fee When payment to a home loan becomes overdue by more than 90 days. |
$50.00 |
| Collection Agent Administration Fee Payable when you are in arrears for more than 90 days and we choose to engage an external collection agent. |
$100.00 |
Other fees
| Fee type | Fee amount |
|---|---|
| Statement Retrieval Fee Payable on request to issue a copt of a previously issued statement. |
|
| First page | $6.00 |
| Each subsequent page | $1.50 |
Line of credit fees^
| Fee type | Fee amount |
|---|---|
| Transfer Dishonour Fees | |
| Dishonour Fee Payable when a direct debit set up on your line of credit, is dishonoured due to insufficient funds. |
$6.00 |
| Auto Transfer Dishonour Fee Where a line of credit has insufficient available funds to cover an external auto transfer transaction, and the transaction is dishonoured by BCU. |
$6.00 |
| Referral Fee Where a line of credit has insufficient available funds to cover an auto transfer or direct debit transaction, and the transaction is honoured by BCU. |
$3.50 |
| Overlimit Management Fee If an overdraft or line of credit account exceeds the approved limit by more than $50 within the month. |
$10.00 |
^These fees may apply to line of credit accounts in addition to the home loan fees and charges. Other transaction fees and charges that may apply to line of credit accounts can be found on our everyday and savings account fees and charges page.
Government charges
State and federal governments apply various charges relating to the loan amount, security, purchase of property and property settlement, for example:
- Stamp duty
- Registration/discharge of securities
- Duty on duplicate documents
- Searches of land titles
Where applicable these fees and charges are payable by yourself in addition to those shown above.
Further details of applicable government charges are available upon request at any BCU Bank branch.
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Important information
BCU Bank can change the standard fees and charges that apply to loan accounts from time to time. Please refer to the terms of your credit contract.
* At cost to BCU refers to costs incurred by BCU Bank resulting from the provision of a product or service requested by the customer, which will be passed on to the customer.