hi there,
we are just signing our mortgage papers for our investment property and apart from them getting the stamp duty wrong they are charging us $1200 for their solicitors's fees. I am pretty sure that is wrong.. we have our solicitor but want to know if i have to pay for theirs too.
no where in the application did it say we needed to pay for theirs.
could i get a quick confirmation from those in the know. it is with LoanAustralia.
cheers
melHi there
it is usual for you to have to pay the bank's solicitor's fees as part of the loan details – it should have been disclosed in any credit fees and charges.
Their fees may include the costs of stamp duty for a mortgage – but if you are in doubt about whether they have charged you properly – contact a legal costs consultant in your state.
If you are in QLD – you can PM me as I can probably give you an idea if there has been an overcharge
thanksMost of the major lenders have their own in-house legal teams and the fees are incorporated into the loan. But a lot of the smaller non bank lenders actually charge separately for legals. $1200 is a fair bit. (Some lenders may say nil app fees, but then slug you with other fees to make up for it!).
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
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