temporarily waive the Deferred Administration Fee (DAF) for its home loan customers to assist them
in moving to another lender. This is in response to its inability to pass on any of the recent cash rate
cut due to the continuing high cost of funds on the wholesale money markets.
Borrowers with a GE Money-owned Wizard home loan will have a 12-month DAF-waiver period, from
1 March, if they choose to refinance through Aussie. This is a condition in the sale agreement by
which Aussie will acquire the GE Money’s Wizard brand and franchise network on 27 February.
Borrowers with a GE Money home loan originated through third parties such as mortgage
originators, brokers and aggregators will have a three-month DAF waiver period from 1 March.