As well as our competitive pricing policy, we are also committed to delivering flexible products in a way that suits your lifestyle. For example, you can choose a loan that gives you debit and credit card facilities through the Automatic Teller and EFTPOS networks or selects a loan with a simple redraw facility to access additional funds paid to your loan from time to time at a lower rate. Compare our rates to the competition’s, and discover that a competitive interest rate isn’t the only thing you will benefit from when you choose Collins.
As a Mortgage Broker, we are paid directly by the lender for introducing the loan. They charge a fee for our service, which is a small percentage of the loan amount, generally between 1% and 2%. We will usually ask for a portion of this amount to be paid upfront and then the balance at the time of unconditional approval. We may also be required to charge a Clawback fee, if the loan is discharged/paid out within the first two years from the settlement date. Full disclosure of all fees and charges will be made when the loan is quoted for by the Mortgage Broker.
A comparison rate is a tool used to help explain the true cost of a loan. It factors in the interest rate, fees and charges and displays a single percentage rate that can be used to compare various loans from different lenders.
A comparison rate is based on a loan amount of $150,000 over a loan term of 25 years.
It is important to note that a comparison rate is true only for the example given and different terms, fees or other loan amounts might result in a different comparison rate.
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