Legal fee deposit $1,600
Size of loan First mortgage base fee
≤ $500k $4,500 plus GST  
> $500k and ≤ $1m $5,000 plus GST
>$1m and ≤ $3m $6,000 plus GST
> $3m and ≤ $5m $7,500 plus GST
> $5m and ≤ $10m $10,000 plus GST
> $10m Price on application
The following amounts will be added to the above fees if the situation arises
2nd mortgage / caveat Per first mortgage:

$500 plus GST for a confirmed priority amount

$800 plus GST with a simple priority deed

Complex intercreditor deed may be additional and will be quoted upon seeing the deed
Builder’s tripartite agreement $500 plus GST
Paper settlement $1,000 plus GST
International VOI / execution $600 plus GST
Third party guarantor – independent solicitor and financial advice $800 plus GST
Urgency fee same day settlement $2,000 plus GST
Urgent fee – next day settlement $1,500 plus GST
> 3 parties or properties, or more complex scenario Please confirm fees with your Bransgroves Partner
Additional matters for which legal fees may be increased Signification variations to the security documents required by the borrower, structure changes to the loan (eg adding securities or parties last minute), a number of rescheduled settlements requiring additional work 

Syndicate add ons

3 members or less $500 plus GST
6 members or less $800 plus GST
10 members or less $1,200 plus GST
>10 members $1,200 plus GST for the first ten members plus $500 plus GST per ten members thereafter

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. 

No of lots Price per lot ex GST
1 $1,250
2 lots $1,100
< 5 $950
< 10 $800
<20 $600
>20 $400

Enforcement is a delicate matter, this is because it involves a lender suing their customer. This is obviously unavoidable but nevertheless can be extremely damaging to the lender’s reputation if not handled fairly. A borrower who has fallen on hard times, and is already facing financial distress, should not be harshly dealt with because they will bear the lender ill will, and so will the broker who introduced them.

At Bransgroves Lawyers we have seen many lenders come and go over the years. We have observed that after several years of gouging equity from defaulting borrowers there is an inevitable repercussion for the lender in terms of new business. Australia may be a big country but the commercial mortgage market is a small world. Brokers get new business from referrals and repeat business. If a lenders destroys their clients then the lender is destroying their future business pipeline. Therefore brokers learn to avoid lenders who gouge out equity in the event of a default through excessive legal fees and rapacious default rates. Word of mouth is passed between brokers and the lender becomes pigeonholed as oppressive and finds it difficult to get quality business in the future.

Accordingly, we advise all lenders to have moderate default rates and fees and for our own part we aim to keep our fees as low as possible. We do this by acting quickly, avoiding unnecessary work, and charging modest fees for the work that we do. We regard our enforcement department as a necessary support service for our clients, not an opportunity for plunder. Our aim is for borrowers when they see our fees to concede that they were treated fairly.

Enforcement Fees

Our most senior solicitors (Matthew Bransgrove, Kate Cooper, Lesa Bransgrove)

$600 per hour plus GST

Our partner level solicitors

$580 per hour plus GST

Our senior associate level solicitors

$485 per hour plus GST

Our associate level solicitors

$380 per hour plus GST

For a default notice

 Circa $1,500

For undefended proceedings (up to and including sale)

Circa $30,000

For defended proceedings with no trial

average $50-80k.

For defended proceedings with a trial

average $120-150k.