Home Loans

Fee

Amount

Application Fee

Payable when you apply for a home loan. This fee does not apply for discounted home loan applications and when you take out a new loan that is linked to a Home Loan Package.

$600

Payable when you apply for a nil-end-debt bridging home loan.

$1,350

Monthly Fee

None of our home loans have a monthly fee.

$0

Redraw Fee

We don't charge for redraws from your home loan.

$0

Package Fee

Payable annually in advance for each year that you maintain a Home Loan Package.

$395

Top-Up Fee

Payable when you apply to increase (top-up) an existing loan. This fee does not apply for discounted home loan applications and when you increase an existing loan that is linked to a Home Loan Package.

$300

Early Repayment Adjustment

Payable if you have a fixed rate loan and, during any fixed rate period, you repay your loan in full, make extra repayments in excess of $10,000 per annum or switch (with our permission) to a variable rate or another fixed rate. Refer to our Early Repayment Adjustment Fact Sheet for details on how we calculate this fee.

Calculated at the time of the ‘break event’

Lenders’ Mortgage Insurance (LMI)

Payable if we require Lenders’ Mortgage Insurance to protect the Credit Union against the possibility of you defaulting on the loan. LMI is generally required if you need to borrow more than 80% of the value of the property. This is not a Credit Union SA fee.

At cost

Mortgage Discharge Fee

Payable when you request us to discharge the Credit Union’s mortgage on your security property.

$350 per mortgage

Arrears Fee

Payable whenever we send you a letter because you do not make a repayment in full on or before the date it is due and the default continues for three days or more.
  • Letter 1 – arrears 3 to 10 days
  • Letter 2 – arrears 11 to 18 days
  • Letter 3 – arrears 19 to 26 days
  • Letter 4 – arrears 27 days or more
First letter

$0

Subsequent letters

$15

Progress Payment Fee

Payable for new construction loans where the loan is to be funded by a series of progressive draw-downs. This fee is payable in addition to the initial valuation fee and covers as many progressive payments as required to complete the construction.

$300

Lands Title Search (LTO) Fees

Payable for each search we are required to perform on a security property. This is not a Credit Union SA fee.

At cost

Rate Lock Fee

Payable if you choose to lock in your interest rate on a fixed rate loan for up to 90 days prior to the funding of the loan.

0.15% of the loan amount

Registration Fee

Payable each time that a mortgage, discharge of mortgage or other transaction is registered on a property title. This is not a Credit Union SA fee.

At cost

Renegotiation Fee

Payable each time you request and we approve a significant change to the features of your existing loan. For example, if you request to switch from a variable to fixed interest rate, principal and interest to interest only repayments, change from one loan type to another or to substitute a security. This fee is not payable for loans linked to the Home Loan Package.

$300

Security Handling Fee

Payable each time you request us to produce or consent to a dealing affecting the title of a property we hold as security.

$150

Settlement Fee

Payable when we fund a new loan, when we or our representative attends settlement. This fee is not payable for loans linked to the Home Loan Package.

$150

Solicitor's Fee

Payable if complex loan documentation is required (for example, where a trust investigation is required) and we engage the services of an external solicitor to assist with preparation of the loan documentation. Solicitor’s fees are passed directly to members at cost. This is not a Credit Union SA fee.

At cost

Valuation Fee

Payable if we require a valuation of the property to be offered as security. Credit Union SA engages licensed third party valuers to perform valuations and passes valuation fees directly to members at cost. This is not a Credit Union SA fee.

At cost