Priority Commercial Mortgages
Pre-settlement Legal Requirements
Documents provided by
Commercial Term Loan Facility Letter of Offer (+ copy)
solicitor
Mortgage
Memorandum 8303572
Directions to pay
Undertaking
Direct Debit Request Form
Loan Account Instructions Form
Warranty
Bank Solicitors Fee (payable by client)
List of APRA approved Insurers
Documents required for
Letter of Offer duly signed or initialled
completion
The Mortgage duly executed and stamped to secure a total loan of
$xxxxxxx. Please ensure that the mortgage is stamped prior to return
Direction to Pay duly executed
Undertaking duly executed
Direct Debit Request Form completed and signed
Loan Account Instructions Form completed and signed
Warranty duly executed
Bank cheque in payment of our account
A certificate of currency issued by the insurer and not a broker or
an original building insurance policy for $xxxxxx on a replacement
basis noting ING Bank (Australia) Limited of 140 Sussex Street,
Sydney NSW 2000 as Mortgagee. The insurance must be effected
with one of the approved insurers
Survey Certificate by exception only. ING DIRECT will advise
specifically where a survey certificate is required, in all other
instances provision of Survey Certificate is not required. Where a
Survey Certificate is required it must: (i) Identify the land by reference to its present title particulars,
(ii) Identify any building erected on the land by street number or
name and
ING DIRECT is a division of ING BANK (Australia) Limited ABN 24 000 893 292
(iii) Certify that there are no encroachments by or upon the property
and that the Local Government Regulations and/or Environmental
Planning and Assessment Act Regulations have been complied with
as to the distance of walls, eaves and gutters from boundaries.
Zoning Certificate, not more than 2 years old and to confirm current
zoning as listed in the valuation report.
Land Tax Certificate (for refinance and increase requests only).
Special Conditions /
Cheque in favour of the Land & Property Information NSW in the
Requirements
sum of $xxx in payment of registration fees
Existing ABC Bank loan number 12344556 is to be repaid in full and
closed at settlement. YOU WILL NEED TO ARRANGE FOR THIS.
Discharge of Mortgage no 123445 from ABC Bank will be required
at settlement. YOU WILL NEED TO ARRANGE FOR THIS.
Copy of lease number 12344556.
Copy of variation of lease number 12344556.
Copy of any other lease/s in place for the properties.
All of the above documents and requirements need to be met at least 3 business days prior to
settlement. Cheque direction is to be received by the solicitor no later than 10am on the
morning before settlement.
ING DIRECT is a division of ING BANK (Australia) Limited ABN 24 000 893 292
Commercial Loans Legal Fees and Charges
ING DIRECT Solicitor Fees and Charges
This is a guide to the costs that may be charged directly to the borrower by the solicitors
representing ING DIRECT. Please note that this does not include all costs that may be payable by
the borrower in relation to obtaining finance for the purchase of property.
Maximum Fees and Disbursements
Documentation and settlement costs payable by the borrower
Service
ALL STATES
Documentation & settlement fee
loans $0.00 to $600,000.00 (exclusive of GST)
loans over $600,000.00 (exclusive of GST)
$600
0.1% of principal
Disbursements – search fees, administration out-ofpocket fees, settlement fees – maximum charge
$150.00
(exclusive of GST)
Registration fee (der dealing)
$75.00
Company search (per search)
$30.00
Stamp duty
At cost
Matter not proceeding (maximum fee)
$100.00
Additional interstate security (exclusive of GST)
$200.00
Variation (exclusive of GST)
$150.00
Company charge (exclusive of GST)
$100.00
Substitution (exclusive of GST)
$600.00
Old system title and other special titles (eg.
$200.00
Company title, community title) (exclusive of GST)
Old system search fee (exclusive of GST)
At cost
Lease – consent costs (exclusive of GST)
$150.00
Solicitor Contacts
NSW
Hicksons: 02 9293 5350 (Terri)
ACT
Gadens National Mortgage Services: 02 9931 4914
ING DIRECT is a division of ING BANK (Australia) Limited ABN 24 000 893 292
VIC
Gadens National Mortgage Services: 03 96207311
WA
Gadens National Mortgage Services – CBA Legal: 08 9223 9223
TAS
Gadens National Mortgage Services: 03 6338 5552
QLD
Gadens National Mortgage Services: 07 3226 9000
SA & NT
Gadens National Mortgage Services: 08 8233 0678
ING DIRECT is a division of ING BANK (Australia) Limited ABN 24 000 893 292