Broker commission payments

The timing of your upfront commission payment depends on the arrangement you have in place with your aggregator. We pay commissions to your aggregator on or around the 15th calendar day of each month for home loans. 

Where the loan is being refinanced from a loan with a BSB starting with 182 to another loan with a BSB starting with 182 and the new loan has the same security, primary borrower and aggregator, upfront commission will be calculated with reference to the net loan balance on the previous loan and the net loan balance of the new loan and new trail will be paid on the refinanced loan.  

Where the loan is being refinanced from a loan with a BSB starting with 183 (or previously 032) to a loan with BSB starting with 182, a new upfront commission and trail will be paid on the refinanced loan.  

There may be some instances where you may be expecting a commission payment and don’t receive one. You should first raise this with your aggregator. 

Please refer to your aggregator in the first instance if you have a commission query.

100% clawback applies if the loan is discharged prior to 12 months after settlement.  

50% clawback applies if the loan is discharged after 12 months but prior to 18 months after settlement.  

An early discharge clawback will apply where the facility is discharged in full. 

Upfront commission is calculated using the loan account balance, less any offset account balances, as at the ninth calendar day after settlement (i.e. the tenth day of the loan).  

Net of offset is calculated at the loan facility level, and not individual loan splits (the facility limit less funds in any of the offset accounts). For example, a facility limit is $500,000, made up of a fixed split of $300,000 and variable split of $200,000. If the client had offset funds of $250,000, the net of offset calculation will be $500,000 - $250,000 = $250,000  

Upfront commission on construction loans is paid on the full loan limit.  

We automatically review each loan account balance at the end of the month after the 12-month anniversary, and pay an additional commission which is equal to the difference between:  

• The current loan account balance, less any offset account balances; and 
• The loan account balance, less any offset account balances used in the upfront calculation, where the amount is greater than or equal to $50,000.