From your Old Lender (Please look at your old home loan contract)
- Exit fees. It could be Early Discharge Fees / Deferred Establishment Fees / Temination Fees
- Settlement Fees
- Discharge Administration Fees
- Fixed Rate Break Cost
- You may find other cost written in your home loan contract
From your New Lender
- Establishment / Application Fees
- Loan Approval Fees
- Settlement Fees
- Document Fees
- Solicitor Fees
- You may find other cost written in your home loan contract
LMI or Lenders Mortgage Insurance
LMI usually apply when borrowing is more than 80% of the property value (LVR). So the higher the percentage borrowing usually reflect to the higher LMI being charges. This insurance does not cover you but it cover the lender against the risk that you may not be able to repay your loan.
Additional Mortgage Duty may be payable when you increasing your loan amount. Usually applicable when the purpose is not an owner occupied. Please check with you lender.
Title Transfer. It is for when property is transerred from one owner to another, this must be lodge with the Land Titles office in each state. Please check the fee with your solicitor or the relevant land titles office.
Above are standard or most common fees in majority of mortgage transactions.
