All Topics / Help Needed! / Legal Fees

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  • Profile photo of Jins13Jins13
    Participant
    @jins13
    Join Date: 2008
    Post Count: 36
    September 30, 2011 - 12:57 am

    Hi,

    Sorry for the trouble, as I looked through the search section but didnt find anything relevant.

    I am thinking of getting a home loan with RAMS and noticed they are charging $295 to exit from the loan and also inidicated legal fees as well. Realistically how much would the legal fees be? With my corresponce with the home loan manager he indicated via email all I had to pay was $295 to exit after 2 years!!!

    Cheers

    Jimmy

    Profile photo of MarJacMarJac
    Member
    @marjac
    Join Date: 2010
    Post Count: 71
    September 30, 2011 - 1:17 am

    Unless fixed rate Early Repayment Fees are now not applicable for new loans

    A Discharge / Exit Fee of $295 is usually charged to cover 'File Handing' (instructing solicitors & payout figures etc)when discharging the loan/mortgage etc.
    In addition expect approx $200-$300 legal solicitors fees, although these could be higher 
    The Solicitors fees usually cover preparation of the Discharge & attendance at settlement etc

    Profile photo of Jins13Jins13
    Participant
    @jins13
    Join Date: 2008
    Post Count: 36
    September 30, 2011 - 1:46 am

    Thank you for your help.

Viewing 3 posts - 1 through 3 (of 3 total)

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