Lending Fees

Credit Fees

Establishment Fees - Housing Loan (including Revolving Credit), Rural Loan, Rural Overdraft, Business Loan, Business Overdraft, Bridging Finance, Documentary Letter of Credit

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification.

$250.00 (new security) $150.00 (existing security)

Establishment Fees — Freedom Loan

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification.

$250.00

Establishment Fees — Personal Loan

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification.

$150.00

Establishment Fees — Performance Bond

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification.

$150.00 (Continuation fee of $50.00 per six months)

Establishment Fees — Payroll Letter of Credit

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification

$150.00 (Continuation fee of $50.00 per six months)

Establishment Fees — Personal Overdrafts

Payable for the submission of a loan application and paid either at the time of application by cheque, cash, deduction from a TSB Bank account or deduction from loan proceeds. The Establishment Fee covers costs for application assessment, document production, document verification, facility drawdown/activation and security verification.

$30.00 Establishment $20.00 Temporary Increase $20.00 Permanent Increase

Management Fee - Revolving Credit

As an alternative to the Drawdown Fee set out below, a borrower can choose to pay a monthly Management Fee. This fee is designed for users with a high number of transactions and is charged monthly to the loan account on the last business day of each month. This fee covers the cost of transactions on the loan account including drawdowns.

$10.00 per month

Drawdown Fee - Revolving Credit

As an alternative to the monthly Management Fee set out above, a borrower can choose to pay a drawdown fee per withdrawal from the Liberty Revolving Credit loan account (excluding Automatic Payments and Direct Debits). This fee is charged to the Revolving Credit account on the last business day of each month, and covers the cost of transactions on the loan account. This fee is designed for low transaction users as an option to the Liberty Revolving Credit Management Fee.

$2.50 per drawdown

Service Fees — Personal Overdraft

Charged monthly to the account the overdraft is loaded against on the last calendar day of the month. The fee covers associated maintenance and reporting costs.

$3.00 per month

Service Fees — Rural Overdraft, Business Overdraft

Charged monthly to the account the overdraft is loaded against on the last calendar day of the month. The fee covers associated maintenance and reporting costs.

Calculated at the rate of 2% p.a. on the difference between the daily Unpaid Balance and the Overdraft Credit Limit. Should the account be in credit, the fee will be calculated on the Overdraft Credit Limit. A maximum fee of $20.00 per month applies.

Registration of Caveat Fee

Charged at time of application and paid either by cheque, cash, deduction from a TSB Bank account or from loan proceeds. This fee covers costs of $357.00 charged by LINZ for registration of caveat and release of the caveat and $43.00 from TSB Bank for document preparation, registration of the caveat and its subsequent release.

$400.00

Registration/Renewal of Financing Statement

Charged at time of application or on renewal and paid by cheque, cash, deduction from a TSB Bank account or from loan proceeds. This fee covers costs of $20.00 charged by the Ministry of Economic Development for registration/renewal of Financing Statement in accordance with Personal Property Security Act and $5.00 for TSB Bank for registration and subsequent release or renewal.

$25.00

Life Policy Assignment and Re–Assignment Fee

Charged at time of application and paid either by cheque, cash, deduction from a TSB Bank account or from loan proceeds. This fee covers costs for preparation of assignment documentation and liaising with the respective Insurance Company.

$25.00

Consent Fee

Charged on receipt of request from a Customer's solicitor and paid by the solicitor on Borrower's behalf. This fee covers costs for assessing the request for consent, and where applicable, preparation and/or execution of the consent documentation.

$50.00

Rearranged Security Fee

Charged at time of application and paid either by cheque, cash or deduction from a TSB Bank account. The fee covers costs of the application assessment and, where applicable, document production, document verification and security verification.

$250.00 (new security) $100.00 (existing security)

Change of Loan Facility Fee

Charged at the time of application and paid either by cheque, cash or deduction from a TSB Bank account. The fee covers costs for application assessment, and where applicable, document production, document verification and facility drawdown/activation and loan repayment.

$150.00

Transfer to Family Trust Fee

Charged at time of application and paid either by cheque, cash or deduction from a TSB Bank account. The fee covers costs for application assessment and, where applicable, document production, document verification, facility drawdown/activation and security verification.

$250.00

Interest Rate Fixing Fee

Charged at time of application and paid either by cheque, cash or deduction from a TSB Bank account. The fee covers costs for document production and verification.

$100.00

Holiday Payment Request Fee

Charged at the time of requesting Holiday Payments on your Loan facility and paid by cheque, cash or deduction from a TSB Bank account. The fee covers the administration of determining and calculating any change in loan payments to ensure the loan remains within its term.

$25.00

Fixed Loan Prepayment Fee

Charged at the time of a part prepayment of a Fixed rate Loan. The fee covers the administration into ascertaining as to whether payment of early repayment interest is payable, if so the early prepayment is in addition to this fee. This fee is waived if the payment is 5% of the outstanding loan balance or $10,000.00 per calendar year, which ever is the lesser. Payable by cheque, cash or deduction from a TSB Bank account.

$30.00

Fixed Loan Prepayment Interest

Charged at the time of part or full prepayment of a loan and paid either by cheque, cash, deduction from a TSB Bank account, loan proceeds or paid by the Borrower's solicitor. Where the rate of interest is fixed for a given period, the Borrower shall in addition to the principal sum, pay an amount equal to any Interest Revenue Loss to the Bank as a result of interest rate changes on amounts of principal so repaid for the period from the repayment date to the expiry date of the fixed interest rate period. This fee applies to contracts entered into under the Credit Contracts and Consumer Finance Act 2003. For contracts entered into under the Credit Contracts Act 1981, please refer to your loan contract for Fixed Loan Prepayment Fee details.

The Interest Revenue Loss is the sum of all interest that would have been charged on the Facility or that part of the Facility which is being prepaid, for the period from the date such amounts is prepaid in reduction of the loan balance of the Facility until the fixed interest rate expiry date, calculated at the current interest rate, minus the total resulting from the same calculation with the interest rate being the fixed interest rate that would apply if an application was made as at the day of such prepayment for the remaining fixed interest period. If the bank does not offer a contract with a fixed interest period equal to the fixed rate contract that is to be prepaid, then the fixed interest period offered by the Bank that is closest to the unexpired portion of the fixed interest period of the fixed rate contract that is fully prepaid, (whether shorter or longer), shall apply. If the calculation results in a negative amount, no fee is payable.

Holding Fees

Charged 3 months after loan established and quarterly thereafter if loan remains undrawn. Covers holding cost while funds are held in anticipation of loan drawdown.

$250.00 per quarter

Security Discharge Fee

Charged on discharge or partial discharge of a mortgage and on release of security under the Personal Properties Security Act and paid by the solicitor on the Borrower's behalf. This fee covers the costs of preparation of a settlement statement and discharge documents and liaising with solicitors and/or government agencies.

$100.00 and $25.00 each additional mortgage or charge

Lenders Mortgage Insurance Premium

As a condition of loan approval, the Bank may require Lender's Mortgage Insurance to be taken out for the benefit of the Bank. The level of such insurance cover shall be an amount that the Bank may reasonably require. The premiums payable in respect of such Lender's Mortgage Insurance shall be payable at the time of loan drawdown and shall be paid by cheque, cash, deduction from a TSB Bank account or from loan proceeds.

You may make enquiry with the Bank, in respect of details of payment.

Loan Cancellation Fee

Charged to a Borrower immediately following the Borrower exercising his/her right to cancel a loan contract under section 27 of the Credit Contracts and Consumer Finance Act 2003. The fee covers expenses necessarily incurred by the Bank in connection with the contract and the cancellation thereof.

Up to $250.00 where security for the loan was to be new security. Up to $150.00 where security for the loan was to be existing security.

Default Fees

Payment Default Fee

Charged after a loan has been in arrears for 14 days and weekly thereafter and is debited to a Borrower’s loan account. This fee is to cover costs for reporting and liaising with the Borrower. This fee applies to contracts entered into under the Credit Contracts and Consumer Finance Act 2003. For contracts entered into under the Credit Contract Act 1981, please refer to your loan contract for Default provisions.

$35.00

Rates Demand Fee

Charged to the Borrower’s loan account on the issue of a Demand letter. This fee covers the cost of liaising with the Borrower, the local authority and, where applicable, payment of the rate arrears to the local authority.

$50.00

Insurance Arrears Service Fee

Charged to the Borrower's loan account on the payment of Insurance over property/assets held by the Bank as security. This fee covers the cost of liaising with the Borrower/Insurer and payment of the insurance arrears to the Insurer.

$50.00

Loan Demand Issue Fee

Charged to the Borrower's loan account on the issue of Demand Letter. This fee is to cover the costs of preparation and sending of the Demand letter.

$50.00

Property Law Act Notice Fee

Charged to the Borrower's loan account on issue of instructions to Bank's solicitor. This fee covers the costs of liaising with the Bank's solicitors and document preparation. The charge from the Bank's solicitors will be in addition to this fee.

$100.00

Mortgagee Sale Proceedings

Charged to the Borrower's loan account either on settlement of the sale of the mortgaged property or when mortgagee sale proceedings are terminated. In addition to such charges payable to the Bank, the Borrower will also be required to pay all fees charged by valuers, solicitors, real estate agencies (which include marketing and early cancellation fees), debt collection agencies etc. The charges payable to the Bank cover the costs of liaising with the above entities for the mortgagee sale process.

$100.00 per hour

Additional Costs you should be aware of

Costs/Charges relating to the following are also often necessarily incurred due to the requirements of the Bank’s mortgage and/or loan approval.

House Insurance

Mortgagors are required to insure and keep insured all buildings and insurable improvements on property mortgaged to the Bank and all collateral and other assets in respect of which security has been given to the Bank, against such risks of loss or damage of any kind whatsoever (including loss or damage by fire, earthquake, natural landslip, volcanic eruption, flood, hydrothermal activity, tsunami and fire resulting from any of the foregoing events, and such other risks as are normally covered by a comprehensive policy) which the Bank may from time to time require. Such insurance shall be with an insurance company approved by the Bank for full replacement value and in the names of the Bank and the mortgagor/debtor for their respective rights and interests. The payment of the insurance premiums are the Borrower’s responsibility. Borrowers should contact an insurer for the costs of such insurance. TSB Bank can provide a quote for such insurance and can provide details of approved Insurers.

Rates

Mortgagors are required to punctually pay all rates, taxes and charges from time to time payable in respect of the land the subject of a mortgage to the local authority. The local authority can provide details of the rates payable.

Leasehold Properties

Where the mortgage is over a leasehold property, mortgagors are required to punctually pay the rent to the lessor. The lessor will be able to provide details of rent payable.

Unit Titles

Where the estate is or a stratum estate under the Unit Titles Act 1972, mortgagors are required to punctually pay to the body corporate all fees set by the body corporate.

Collateral Securities

Borrowers may be required to pay the costs associated with arranging the preparation of any specific security documentation or legal advice that the Bank may deem necessary to enable it to assess any security arrangements that are outside the Bank's normal lending criteria or policy.

Maintenance

Mortgagors are required to keep all buildings and other improvements on the land the subject of a mortgage in favour of the Bank in good repair and condition.

Valuation Reports

If Borrowers are required to obtain a registered valuation for an application, such report is required to be completed by a registered valuer satisfactory to the Bank, to comply in all respects with the New Zealand Institute of Valuers Code of Ethics and such Practice Valuation Standards that may be applicable from time to time. Such valuation shall be addressed to the Bank and is to include mortgage recommendations sufficient for the Bank's requirements. The costs of such valuation are the responsibility of the Borrower. Registered valuers can provide details of fees and charges.

Engineers Reports

If Borrowers are required to obtain an engineers report as part of an application, such report will need to be completed by an engineer satisfactory to the Bank, such engineer to be a member of either ACENZ or IPENZ and to comply in all respects with the standards that may be applicable from time to time. Such report shall be addressed to the Bank. The payment of the costs of such engineers report is the responsibility of the Borrower. Engineers can provide details of fees/charges.

Loan Protection Insurance, Tailored Loan Coverage, Term Life Insurance, and Mortgage Redemption Insurance.

As a condition of approval of a loan application, the Bank may require a Borrower to arrange Insurance cover for such amount as the Bank may reasonably require. The Borrower will be required to pay all premiums relating to such insurance cover.

Details of the cost of such cover can be obtained from the Bank.


Effective 01 July 2013. Lending fees are subject to change without notice.