Potential Fees

Using Madd as your mortgage broker is usually a free service as the banks pay us a commission for doing the work on your home loan, however in some circumstances we need to charge a fee for our services. See below a breakdown of our fees and why.

Loan under $200,000

$2,000 + GST – Total $2,200

To complete a home loan application from start to finish is over 15 hours, therefore, when a home loan is under $150,000 the commission alone is not enough to cover the expenses incurred by MADD to complete the job.

Self-managed super funds

$3,500 + GST – Total $3,850

For a self-managed super fund the time to prepare the application, liaise with your Accountant/lawyers and work with the specialised lenders is double the time than a normal loan, therefore we need to charge a fee as the commission alone is not enough to cover our costs.

Commercial Loans

Some lenders pay us a brokerage and some prefer we charge our client via a mandate.  This is case by case depending on the type of commercial loan, your broker will discuss this with you upfront.