Response to The Daily Telegraph

28 January 2009

The Commonwealth Bank considers very carefully any increases to fees, with some home loan fees remaining unchanged since 2003.

The Commonwealth Bank has reviewed some of the specialist transaction fees applicable to its home loan products abolishing the following 9 fees and increasing two other transaction specific fees.

The Bank has abolished the following fees:

Security Revaluation - $200.00
Lodgement Consent - $100.00
Lodgement Discharge - $150.00
LMI Arrangement Fee - $20.00
Photocopy - $2.50 (per page)
Duplicate Statement - $2.50
Particularised Statement
Voucher Fee
Voucher forwarding Fee

In comparison to the other major lenders, the Commonwealth Bank’s fees remain amongst the lowest.

At the same time, the Bank reviewed and increased transaction fees for two specific home loan transactions. These transactions are once only transaction during the terms of the loan.

The fees increased:

Settlement attendance fee - From $100 to $150
Settlement Discharge Fee - From $300 to $350