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FEES AND CHARGES

PERSONAL LOANS, CAR LOANS, HOME LOANS, OVERDRAFTS,
LINES OF CREDIT AND COMMERCIAL FINANCE
(Effective 01 January 2017)

Where we incur a charge from another organisation when acting on your behalf (such as legal fees or Government charges), it is our policy to pass these costs on to you.

We have included some of these external fees as well as our own fees & charges in this guide.

Loan Establishment Fees - Payable When you Apply for Finance
Personal Loans Payable when you apply for new loan or extra credit under you credit contract. $200.00
Car Loans Payable when you apply for new loan or extra credit under you credit contract. $200.00
Home Loans The following establishment fees apply to Holiday Coast Credit Union mortgage loans:
Keep it Simple Home Loan $400.00
Home Sweet Home Loan $Nil
Live Life Home Loan $400.00
Fixed 'n Easy Home Loan $400.00
Home Equity Loans Establishment fee applies $200.00
Top Up Mortgage Loan Establishment Fee Payable when you apply for extra credit under your credit contract. $200.00
Credit Limit Increase Fee Payable when you request an increase to your credit limit. $200.00
Other Related Credit Fees and Charges
Loan Package Fee Home Sweet Home Loan and Capped for 12 Home Sweet Home Loan Package Fee payable annually on 28 June. $360 annually
Monthly Service Fee Payable on all Live Life Home Loans and Fixed ‘n’ Easy Home Loans. $8 per month
Mortgage Discharge Fee Payable when you ask us to discharge your Holiday Coast Credit Union mortgage in part or in full. Solicitor fees, registration, searches and other third party fees may apply. $195.00
Loan Portability Fee Payable when you request to substitute your existing property with another property. Portability Fee not applicable to Home Sweet Home Loans. Solicitor fees, Valuation fees, registration, searches and stamp duty costs apply. $300.00
Switching Fee Payable when you request to change your contract i.e. rollover into a new fixed rate period at the end of any previously approved fixed rate period or switch between products
$250.00
Gaurantee Fee Payable when a Guarantee is processed in association with your home loan
$200.00 
Redraw Fee Payable when you request a redraw (per redraw). Payable on Keep it Simple Home Loan only. $20.00
Consent Fees Payable when you request our consent to any matter relating to this loan contract or the mortgage i.e. Subdivision, Lease, Second Mortgage, Substitution of Security or Variation. Solicitor fees, registration, searches and other third party fees may apply. $100.00
Bank Cheque Fee Payable when we are required to provide bank cheques for settlement (per cheque). $15.00
Progressive Drawdown Fee Payable when a drawdown is required on construction loans. Progressive fee not applicable to Home Sweet Home Loans. Valuation fees may apply. $60.00
Additional Document Copy Payable when you request a document copy $2.00 per page
Document Search Fee Payable when you request any document we have to retrieve from our files, computer systems or archives. (Minimum $20.00 per item). $70.00 per hour
Inward Dishonour Fee Payable when an attempted cheque payment is dishonoured. $15.00
Late Payment Fee Payable when you do not make a repayment on or before the due date and we are required to contact you by phone or letter asking you to remedy the default $9.00 per contact
Default Notice Fee Payable when we send you a default notice. $40.00
Field Call Fee Payable when we make or attempt to make a personal visit to you to assist our efforts to address defaults under your contract. At invoice cost
Settlement Fee Payable when the Credit Union, or its agents, are required to attend a settlement for the sale of a property or refinance of a loan with another financier. Agent’s fees may also apply in addition to the settlement fee. $180.00
Credit Card Fees
Annual Fee Payable annually on anniversary of account opening $25.00
Late Payment Fee Payable when your minimum monthly payment is not paid on or prior to the due date. $9.00
Over Limit Fee Payable each time you exceed your credit limit. $9.00
Commercial Loan Fees
Establishment Fee Payable when you apply for Commercial Finance.
Facility secured by Residential Property:
$1,000 inclusive of one Valuation fee. If more then one Valuation is required this is payable by applicants at cost.
Payable when you apply for Commercial Finance.
Facility secured by Commercial Property:
Available on assessment of specific lending proposals, however as a guide, 0.50% of amount, with a minimum fee of $750.00. Valuation fees are payable in addition to the establishment fee
Commercial Loan Monthly Service Fee Facility secured by Residential Property: $30.00
Facility secured by Commercial Property: Based on Outstanding Balance of Loan:
$0.00 to $5,000 $0.00
$5,001 to $100,000 $20.00
$100,001 to $250,000 $30.00
$250,001 to $1,000,000 $50.00
$1,000,000 plus $100.00
Overdraft Limit Monthly Service Fee
Overdraft Limit Monthly Service Fee $20 per month waived if total indebtness is greater than $100,000
Based on Approved Overdraft Limit:
$0.00 to $10,000 $10.00
$10,001 to $25,000 $20.00
$25,001 to $50,000 $35.00
$50,001 to $100,000 $60.00
$100,000 plus $85.00
Security/Performance Guarantee Establishment Fee - Payable when you apply for a Guarantee
Facility Fee for Security Performance Guarantee 1.00% of guarantee amount (minimum $100.00) charged 6 monthly in advance
Establishment Fee Deposit Bonds/Guarantees 1% of amount of bond with a minimum fee of $250.00
Credit Fees and Charges you may have to pay to Third Parties
Lenders Mortgage Insurance Additional Premium Payable when you require an amount of credit in excess of our normal lending margins (Real Property Security only) or you alter the property and the alteration reduces the property’s value placing the loan outside our normal lending margins. At invoice cost
PPSR Fees Payable when you provide a Bill of Sale over a motor vehicle or similar to secure credit or your contract or security is varied and PPSR or equivalent fees are incurred including enquiry, registration, and variation fees. Actual fee can be advised on request. At invoice cost
Certificate, Searches, Reports and Independent Advice Payable when we require or you obtain a conveyancing certificate, pest report, any other report, search or certificate, independent legal advice or independent financial advice. At invoice cost
Mortgage Preparation Fees - Payable when you provide a mortgage over real property to secure credit
At invoice cost. Refer Credit Fees and Charges you may have to pay others.
Valuation Fees - Payable when you provide a mortgage over real property to secure credit
Residential Properties At invoice cost (approx $250)
Commercial Properties Fee Advised on request
Rural Properties Fee Advised on request
Specialised Properties Fee Advised on request
NOTE: The above mortgage preparation fees are due and payable on all mortgage loans even if cancelled by the member prior to settlement. A refund will be considered depending on the amount of work completed at the time of cancellation.
Other Third Party Fees
You must pay – at invoice cost - any third party costs we incur (including solicitors, valuers, or agents fees including document preparation, settlement fees and lodgement fees, and government charges including stamp duty, search fees, production fees and registration fees) when:
  • you request our consent to any dealing with the mortgaged property;
  • we agree to any variation of the credit contract or mortgage including a further advance of credit or credit limit increase;
  • you request us to make a progress payment or we require a valuation;
  • you discharge any mortgage;
  • we require an updated valuation after a default has remained unremedied for 90 days and the existing valuation is more than 12 months old;
  • we send you a ‘power of sale’ notice informing you of our intention to enforce any mortgage;
  • agents are required to perform settlement and lodgement services;
  • you provide a Bill of Sale over an asset that can not be registered with PPSR;
  • we require Legal advice from our Solicitors to establish your loan facility, e.g. Advice on Family Trust
  • Deeds, Mortgage debentures (These costs will depend on the type and amount of advice obtained and will be advised once known).
Also refer to our General fees and charges


Holiday Coast Credit Union Ltd. ABN 64 087 650 164. AFSL/Australian Credit License 240782.
Registered Office: 1 Commerce Street Wauchope NSW 2446.

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