Mortgage Advance Fees

This pricing is for our finance company and mortgage fund lenders who are in the business of providing mortgage funding and have a higher volume of loans (>6 loans per month). 

Approach

Each of our mortgage fund / commercial lenders have different internal processes and requirements for their loans. We aim to work closely with each lender to ensure our procedures fit smoothly with the lender’s own internal procedures and what they require or expect from us. 

We have identified that there are two main approaches by lenders:

1. the bulk of the due diligence work is performed inhouse by the lender and they solely require Bransgroves to document and settle the loa. These lenders use the Streamline Package;
2. they prefer to have further due diligence and scenario analysis performed by Bransgroves to monitor for unfairness / unjustness scenarios. These lenders use the Premium Package. 

Professional fees 

Volume discount 

All packages attract a 10% discount for lenders / lender’s agents who settle more than 4 loans a month with Bransgroves. 

Disbursements

Search disbursements are usually between $400 and $1,000 depending on how many parties and properties are involved and an estimate will be added to our fees. 

Streamline package

Lender’s role: Clear finalised agreed terms, all due diligence, Collect all necessary supporting documents inhouse (eg rates, land tax, evidence of payment of all of those, insurance, other internal requirements), for second mortgages – confirm priority amount / instruct Bransgroves they are satisfied with the priority amount and to proceed without confirming. 

Bransgroves role: Basic legal due diligence (company searches, title searches, bankruptcy, PPSR), documentation, execution and identification, settlement of the loan (with necessary priority and security obtained), for second mortgages – no contact with first until after settlement where we send tacking letter

Premium package 

Lender’s role: Clear finalised agreed terms, commercial due diligence – value of the security, financial position of the borrower 

Bransgroves role: Basic legal due diligence (company searches, title searches, bankruptcy, PPSR), additional due diligence and closer review of searches for indicators of unjustness / unfairness or corporate hijack, obtain further documentation and answers with respect to the matters identified in the additional due diligence (eg request information on purpose of drawdown or exit strategy, financial advice for third party, capacity requirements for older parties, investigate recent changes in shareholding or directorship etc), documentation, execution and identification, settlement of the loan (with necessary priority and security obtained), for second mortgages – obtain a confirmed priority amount