Costs to consider
Buying a house can be an expensive exercise, so now is a good time to start thinking about the different costs that may arise. The good news is that any fees charged by your lender are often quite modest compared with the government charges.
In any case, your local express Mortgage Market adviser can give you an accurate estimate of your total likely costs, and show you how to minimise those charged by the lenders. Here are some of the major costs to consider:
Lender Fees
- Application Fee
- Valuation Fee
- Lender’s Mortgage Insurance Fee (for loans greater than 80% loan-to-value ratio)
Government Charges
- Stamp duty on the purchase (may not apply for first home buyers)
- Stamp duty on the mortgage
- Stamp duty on the Lender’s Mortgage Insurance (if loan is greater than 80% of property value)
- Mortgage registration
Other costs
- Conveyancing – your legal fees
- Financial advice
- Removalists
Next steps
Request an obligation-free meeting with your local Express Mortgage Market adviser today, or call
1300 663 997 to speak with one of our friendly advisers.