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Fees And Charges

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Introduction

This is not intended to be an exhaustive list of ASB Bank's fees and charges. It is a guide to some of the most common fees related to home lending, and charges relating to common attendances to home loan contracts and mortgage security arrangements. 

Fees and charges change without notice so, while we try to keep this up to date, you should check the link to ASB Bank's web site for the latest figures.

 

Some common fees

Some fees are negotiable and depend upon the overall value of the relationship with ASB Bank. 

  1. Loan approval fee: can be up to $500.
  2. Loan top up fee: can be up to 1%.
  3. Orbit and Orbit FastTrack account fee: $12.00 per month.

 

Other charges that could apply from time to time

These fees mainly relate to alterations to the loan contracts or the mortgage security held for a loan.

  1. Fixed rate break costs: ASB Bank's economic cost recovery may apply.
  2. Early repayment fee: $50 per loan if there is no break cost involved, or nil if ASB charges a break cost.
  3. Low Equity Premium (LEP): May apply to loans over 80% LVR.  Current LEP rates range from 0.20% to 1.25% of the loan amount.
  4. Changes to loan contracts or mortgage securities:  There are many different things that may cause you to want or need to make changes to the loan contracts or the mortgage securities. Some common examples include; transfers of loans from personal name to a family trust, transfers from joint to single loan ownership or vice versa, single loan owner adding a second person to the loan, changes to mortgagors, discharge of the mortgage. Fees for any of these changes generally range between $50 and $200 per item.