Home Loan Variable: 5.94% (5.95%*) • Home Loan Fixed: 5.79% (6.39%*) • Fixed: 5.79% (6.39%*) • Variable: 5.94% (5.95%*) • Investment IO: 6.14% (6.58%*) • Investment PI: 5.99% (6.61%*)
WHAT IS MORTGAGE REGISTRATION FEE, TRANSFER FEE, AND HOW MUCH IS PAYABLE?
The Mortgage Registration Fee is a charge by the State or Territory land titles office to register the lender’s mortgage on the property’s title record, and is paid by the borrower in full at the time a loan is transacted. Should you default on your loan to the limits of bank policy, the registration of the mortgage against the bank will allow them to take ownership.
The Title Transfer Fee is a state/territory government fee for transferring the property title from the seller to the buyer. The cost can vary significantly depending on the location and/or state or territory of the property.
Purchasing a home is an administrative-intensive process that still relies on administration workers filling old-school manila folders and filing away documents in archaic filing cabinets. Given the reliance on this manual labour there are still fees to cover this process. The market is progressively moving towards a technology-driven system, but until then we’re charged various fees, such as the Mortgage Registration fee.
Stamp Duty Calculator
The stamp duty calculator returns the Mortgage Registration Fee and Title Transfer Fee alongside the Stamp Duty.
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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.
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