What

Priority Commercial Mortgages Pre-Settlement Fees and Charges

What I need to know about Priority Commercial Mortgages

Commitment Fee

A commitment fee of 0.25% of the total Commercial loan amount is payable upon application.

Payment via cheque or credit card is acceptable.

The commitment fee is refundable if the loan application is declined or withdrawn prior to the issuance

of the formal Letter of Offer.

Pre-approval

ING DIRECT currently offers pre-approval for Commercial loans. A non-refundable $500 pre-approval

fee is payable. This amount can form part of the 0.25% commitment fee once the borrower has

located a property and submits a formal application with ING DIRECT.

Valuation Fee

A valuation fee is payable and will vary depending on the value and location of your security property.

To obtain a quote, simply contact your broker.

Combination Loans

If applying for more than one loan a split fee of $100 is payable for each additional loan. A minimum

loan amount of $50,000 applies per loan split.

Change to Letter of Offer

A fee of $250 applies to make changes to the Letter of Offer between disclosure date (date of original

issue) and settlement.

Early Repayment Fee

If you repay your loan in full within five years of the settlement date, you must pay a fee equivalent to

one month’s interest on the original loan amount.

Post-settlement Fees and Charges

Please refer to your Letter of Offer and Terms and Conditions booklet.

ING DIRECT Solicitor Fees and Charges

This is a guide to the fees and charges that may be charged to you for legal costs and related expenses

incurred by ING DIRECT. Please note that this does not include all costs that may be payable by you in

relation to obtaining finance from ING DIRECT. Costs may be higher if settlement is taking place outside of

capital cities.

Indicative Fees and Charges

Documentation and settlement costs payable by the borrower (excluding GST)

Prepare mortgage, guarantee, indemnity and company charge (as

required) including -

Review and advise on trust deeds (if applicable)

Certify compliance

Arrange and attend settlement

Stamp and register documents

0.1% of total loan amount,

with a minimum fee of

$825.00

Matters which do not proceed $220.00

Prepare discharge of mortgage, arrange and attend settlement $319.00

Prepare consent to new lease, transfer, assignment, surrender and

sublease, producing title and registration

$385.00

Prepare deed/ letter of priority and execution by required parties $385.00

Consent to registration of bankruptcy application/notice of death $132.00

Increase/Variation of loan amount or loan terms or security $220.00

Consent to registration of subdivision, consolidation, strata plan,

producing title and registration

$385.00

Title searches, photocopying, facsimile, company searches $192.50

Registration fees (Land Titles and ASIC)

At cost

Bank cheque fees

At cost

Old System title search

At cost

Interstate agent’s settlement fee (estimated at $100 + GST)

At cost

Please note that the Documentation and Settlement Fee includes search of primary security, administrative

and out of pocket costs and settlement fees. The above fees are exclusive of GST.

You will need to allow for government charges and duties which may include stamp duty on the

mortgage, stamp duty on the transfer of land and registration fees. You will also need to allow for your

own legal representation, if applicable.

ING DIRECT is a division of ING Bank (Australia) Limited | ABN 24 000 893 292 | INGD PCM284 01/10

Summary Comparison Chart

Loan

Owner Occupied

or Investment

Repayment Type Maximum Term Maximum Loan

Amount

Maximum LVR

(No LMI)

Additional

Payments

Redraw Access to Funds^ Early Repayment

Fee

Variable Rate* Both P&I or IO + 15 years $2 million 75%

(70% I/O)

Yes

Minimum $10,000

($150 fee per

redraw)

Online Banking

Phone Banking

In writing

(letter or fax)

Yes

Fixed Rate* Both P&I or IO + 15 years $2 million 75%

(70% I/O)

Yes #

Less than $20,000

per year

No No Yes

Equity Loan* Both IO N/A $2 million 70% Yes Yes Online Banking

Phone Banking

In writing

(letter or fax)

* Lease – Doc available for Investment purposes only (Maximum LVR 60%)

# If you select a fixed rate loan, break costs may be payable if at anytime before the fixed term expires, you pay out your loan or you make additional payments of $20,000 or more in a calendar year, or you change the interest rate applying to your loan

to another type of interest rate. Break costs may be substantial.

+ I/O maximum term is 5 years

^ Conditions apply for access to Online and Phone banking

Information in this brochure is current as at the time of printing and is subject to change without notice. All applications for credit are subject to ING DIRECT’s credit approval criteria. Fees and charges apply.

ING DIRECT is a division of ING Bank (Australia) Limited | ABN 24 000 893 292 | INGD PCM284 01/10

Visit our website at

ingdirect.com.au

GPO Box 4094 Sydney NSW 2001

Telephone 133 464

ING DIRECT is a division of

ING Bank (Australia) Limited

ABN 24 000 893 292

ING DIRECT is a registered

trademark of ING Groep N.V.

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of Bpay ® Pty Ltd. ABN 69 079 137 518 ING DIRECT is a division of ING Bank (Australia) Limited | ABN 24 000 893 292 | INGD PCM284 01/10