Ungaro&Co

Our Fees

Our business involves providing you with advice in relation to mortgages and insurances only – we do not provide investment advice or budgeting services. In most cases, we receive commission from banks and insurance companies for the business we place with them and no fees are payable from you to us.

In situations where commission income will not be received from lenders or insurance companies, we reserve the right to charge a fee for our service  – very similar to how an accountant or a solicitor would work (95% of our work at this stage does not incurr any fees from our clients). Before any fees are applicable however, you will be made aware of this  and will have to sign a fee mandate form before any work is completed. Our intention with regards to fees is to be as transparent as possible – nobody likes surprises!

Following are some of the reasons why we charge fees:

• Early repayment of your mortgage. This is a fee from us to you, in the event that more than 25% of your mortgage is repaid within 18 months of draw down of your home loan. Note that this fee is completely separate from any break fee that a lender may charge for exiting a fixed rate loan early.
• Bridging finance. As this is generally short term funding, no commission is paid from the lenders. This fee is negotiated on a case by case basis.
• Overseas applicants. Due to the extra work involved with arranging finance for overseas clients, an application fee of $500 applies.