I am being charged $1678 in legal fees by the banks solicitors. $704 of this is mortgage duty. $464 is professional fees. The rest is registration fees. No conveyancing services.
Does this sound right?
http://www.posigear.8k.com
Positive Geared Share InvestingYep,
I copped a wopping $2,585 fee from the banks, not to mention my $2,050 fee from a conveyancer, and what can you do, if you’re silly and don’t take notice or have it in writing upfront – they take the money out before you get a chance to disagree. all i can say is beware of banks and conveyancers.
Hi Crashy
Some lenders charge you for their legal fees. These are usually the smaller non bank lenders. This is because they outsource. The larger banks usually have their own legal departments, and include it all in one application fee. Sounds like you paid about $464 in legals and the rest was govt charges which you just cannot avoid.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry, I know ING Bank(Australia) sting the borrower for their legal service fees on top of application fee (and all the other stamp duties/titles office fees etc)……yep, they outsource.
I was surprised a bank this big would do such a thing.
It’s hard to argue after the event, and I got almost no warning that I would be charged such costs until close to settlement.
It worked out to be quite a few hundred dollars.
Live, Learn and GrowLifexperience
Hello there.
Have you managed to find any cheaper alternatives?
Would you please contact me on [email protected]?
Thanks very much and all the best
Nathan Danker
Nathan
As Terry pointed out some of the smaller non bank lenders charge the client their legals fees but normally it is incorporated into the application fee if any.
Our firm of lawyers normally charges around $550 for a conveyance. They should be able to retire with the no of deals they have done for us over 11 years.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Chat to different Banks and negotiate an upfront application fees and have them written it on a piece of paper. It protects your interest in future.
Cheers
JohnDreaming about financial freedom is all about taking some action TODAY. I am building my own successfully PART TIME business whilst still working in a Bank. If you want to know more, PM or email ME.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
