Judo Bank Commercial/Asset Finance Commission

Notes on Upfront

• Commercial Commission – Upfront commission is 0.60% inclusive of GST
• Home Loan Commission – Upfront commission 0.715% inclusive of GST (residential mortgages are available in conjunction with commercial lending)
• Asset Finance Commission – Upfront commission is capped at 3.30% inclusive of GST

Notes on Trail

• Commercial Commission – Trail is 0.30% inclusive of GST
• Home Loan Commission – Trail is 0.165% inclusive of GST
• Trail will not be paid if a loan is in default for a period of 30 continuous days under the terms of the relevant loan contract
• If a customer decides to originate a variation to their loan directly with the Lender, that loan will be treated as if introduced by the original Broker and commission payments will continue
• If a customer decides to originate a variation or principal increase to a loan via a new broker, that loan will be treated as closed or discharged for Commission purposes
• Asset Finance Commission – no trail is payable for asset finance lending

Clawback

• The lender has the right to clawback commissions paid for a particular loan if the lender has found that there has been a broker default in respect of the loan application