12 Abr Residential Loan Agreement General Terms And Conditions St George
30 24 Mortgage Insurance Lenders Every mortgage insurance lender protects us as lenders and not you as borrowers. If you default under this loan agreement or mortgage guarantee that results in a need to sell the security property and the proceeds of the sale are insufficient to repay your entire credit, we may suffer a loss. We can recover this loss as part of the lender`s mortgage insurance. However, they remain legally responsible for the payment to the insurer of any outstanding sum under this loan agreement or mortgage guarantee. 25 Break costs 25.1 If the Bank of Melbourne lends you money at a fixed interest rate for a fixed term, the risk associated with interest rate movements is accepted by the Bank of Melbourne. We then manage this risk on the basis of the agreement that all necessary repayments, due over the entire fixed rate period, will be made in full and on time. On this basis, we obtain financing through transactions at wholesale interest rates. If you make a down payment (i.e. you pay before the due date or pay an additional or higher amount) or switch to another interest rate, product or other method of repayment, our financing position changes. If wholesale interest rates have fallen, this results in a loss for the bank. The estimated amount of this loss is passed on to you in the form of a break fee (subject to the deposit threshold described) if you are under the fixed interest rate option and before the end of the fixed rate period, you pay: a) the total amount due in advance; or b) make advances above the down payment threshold; or (c) are late, so the total amount of the due is immediately due to the payment, then you have to pay us the advance breaks that we calculate.
30 25 Transactions 18 Debits and credits to your credit account We may assign any date that we deced as appropriate to assign a charge or credit to your credit account (except in the case of a charge, the date must not be before the date on which the corresponding transaction takes place). However, we credit payments to your credit account once we have received them. It is not necessarily the same day that you pay. Then we can adjust the debits and credits to your credit account and the balance owed to your credit account to accurately reflect the legal obligations of you and us (for example. B because of an error or because a cheque or direct booking is disgraced). If we do, we can make follow-up changes (including interest charges). We can apply any payment we receive from you in any order. If you sign up, you can use the internet and the bank over the phone to debit (retribut) your credit account or credit it (transfers).