a week or so after announcing a bunch of fee increases (minor in the scheme of things) the margin demons have been at work again.........
Rolf, if you cannot read this email you can view it at: http://lending.cba.com.au/ve/t71au3162v9498R709
Commonwealth Bank
Update Newsletter - All the latest info 2 February 2012
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Change to Settlement Cheque Fee
Currently at settlement customers receive two settlement cheques at no charge with any additional cheques incurring a fee.
Effective Thursday 1 March 2012, the fee for additional settlement cheques will increase from $5.40 to $10.00 each.
Settlements occurring on or after Thursday 1 March 2012 will be charged the new fee of $10.00 for each subsequent cheque after the first 2 free cheques.
Note: If the Consumer Credit Contract Schedule was issued before the 03/02/12 then the fee of $5.40 will be honoured. However if the loan is re-documented on, or after 03/02/12, then the $10.00 fee will apply.
The 'Fees we charge for Consumer Mortgage Lending Products' brochure (ADB51, 003-750) will be updated on CommBroker from Thursday 1 March 2012. A single Settlement Cheque Fee insert will also be available on CommBroker.
Home/Investment Home Loan, Line of Credit Loan Contract Schedules issued on and from Friday 3 February 2012 will be updated to reflect the new fee, effective 1 March 2012.
What you need to do
Please ensure you destroy any existing "Fees we charge for Consumer Mortgage Lending Products' brochures on the 29 February and utiliise the updated brochure from Thursday 1 March 2012. A single Settlement Cheque Fee insert will also be available on Commbroker.
Reminder: Settlement Fee is also changing
As advised in Update 27 January 2012, we are increasing our Settlement Fee from $150 to $200 on and from Friday 3 February 2012.
The current $150 Settlement Fee will apply to loans where documentation is issued prior to Friday 3 February 2012. The new fee of $200 applies for loans where loan documents are issued on and from Friday 3 February 2012.
Why are we increasing the Settlement Fee?
The Bank continually reviews its home loan products, features and services. The Settlement Fee has remained constant since March 2009, and has not kept up with the increasing cost of this service.
Need to know more
For more information talk to Broker Assist on 13 25 88, select Option 3.
Contact Us: Third Party Communications
This email newsletter is for accredited mortgage brokers of Commonwealth Bank of Australia. Update is issued by Third Party Banking, Commonwealth Bank of Australia ABN 48 123 123 124.
To unsubscribe visit: http://lending.cba.com.au/vtu/t71au3162v9498R709
Rolf, if you cannot read this email you can view it at: http://lending.cba.com.au/ve/t71au3162v9498R709
Commonwealth Bank
Update Newsletter - All the latest info 2 February 2012
Follow Kathy Cummings Follow Commonwealth Bank facebook_cba.gif
Change to Settlement Cheque Fee
Currently at settlement customers receive two settlement cheques at no charge with any additional cheques incurring a fee.
Effective Thursday 1 March 2012, the fee for additional settlement cheques will increase from $5.40 to $10.00 each.
Settlements occurring on or after Thursday 1 March 2012 will be charged the new fee of $10.00 for each subsequent cheque after the first 2 free cheques.
Note: If the Consumer Credit Contract Schedule was issued before the 03/02/12 then the fee of $5.40 will be honoured. However if the loan is re-documented on, or after 03/02/12, then the $10.00 fee will apply.
The 'Fees we charge for Consumer Mortgage Lending Products' brochure (ADB51, 003-750) will be updated on CommBroker from Thursday 1 March 2012. A single Settlement Cheque Fee insert will also be available on CommBroker.
Home/Investment Home Loan, Line of Credit Loan Contract Schedules issued on and from Friday 3 February 2012 will be updated to reflect the new fee, effective 1 March 2012.
What you need to do
Please ensure you destroy any existing "Fees we charge for Consumer Mortgage Lending Products' brochures on the 29 February and utiliise the updated brochure from Thursday 1 March 2012. A single Settlement Cheque Fee insert will also be available on Commbroker.
Reminder: Settlement Fee is also changing
As advised in Update 27 January 2012, we are increasing our Settlement Fee from $150 to $200 on and from Friday 3 February 2012.
The current $150 Settlement Fee will apply to loans where documentation is issued prior to Friday 3 February 2012. The new fee of $200 applies for loans where loan documents are issued on and from Friday 3 February 2012.
Why are we increasing the Settlement Fee?
The Bank continually reviews its home loan products, features and services. The Settlement Fee has remained constant since March 2009, and has not kept up with the increasing cost of this service.
Need to know more
For more information talk to Broker Assist on 13 25 88, select Option 3.
Contact Us: Third Party Communications
This email newsletter is for accredited mortgage brokers of Commonwealth Bank of Australia. Update is issued by Third Party Banking, Commonwealth Bank of Australia ABN 48 123 123 124.
To unsubscribe visit: http://lending.cba.com.au/vtu/t71au3162v9498R709