HI All, am in the process of trying to transfer our home loan to another lender in QLD – can anyone advise current costs for doing this outside of normal bank discharge fees? The operator I spoke to mentioned possiblity of Transfer/ Stamp duty and other misc fees which i am unaware of. Await your advice…many thanks in advance.
Any bank suggestion for interest only home loans with competitive interest rates and incentives for shifting to them would be greatly recieved !
Hi there
Your broker or banker should advise on these fees.
There's usually outgoing fees with your current lender (it could be a combination of a deferred establishment fee if applicable, a discharge admin fee and if the loan is fixed, there will be fixed rate break costs).
There will also be some minor state govt. charges which will prob be around $300.
If the new lender has an application fee – you'll need to add that cost too.
Ask the lender to list all of the costs for you so you can make an informed decision.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Look up the Duties Act QLD
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
Some banks are offering $700-$1,000 cash back towards the refinancing cost.
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
There may also be discharge of mortgage and registration of mortgage fees as well.
thanks all for you input!
Rgds abandpops
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