Applicant(s)

  • AMS Mortgage Services Pty Limited

Notification number(s)

  • N93791

Summary

AMS Mortgage Services Pty Limited (AMS) proposes to waive the deferred administration fee (DAF) on existing `Wizard' branded home loans on condition that the borrower has refinanced, or agreed to refinance, with AHL Investments Pty Ltd (AHL). Therefore AMS proposes to, at its discretion, enforce its contractual right to levy the DAF in circumstances where the borrower has not refinanced, or has not agreed to refinance, with AHL.

Legal immunity conferred by the notification commenced on 11 March 2009.

on 1 May 2009 the ACCC issued a decision allowing the notification to stand.