What Are My Costs?
If you are applying for finance to purchase either a home or investment property you will normally incur upfront costs which include a combination of both bank and government costs not to mention any other associated costs applicable. Ensuring that you have budgeted for all associated costs is critical in determining the amount of loan funding you require and more importantly that you can complete settlement and move to your new house without any financial pressures. The following is an indication of the different costs you could normally expect to incur:
Bank Costs
- Loan application fees
- Settlement fees
- Valuation fees
- Lenders Mortgage Insurance (if applicable)
Government Costs
- Transfer Stamp Duty
- Registration of Mortgage
- Registration of Transfer
- Search Fees
Other Costs
- Legal Fees
- Building Inspection Reports
- Pest Inspection Reports
- Removal Costs
- Utilities Connection Costs
- Selling Costs
- General Insurances such as buildings and contents insurance
If you would like more information about the costs of buying and financing your property our associated loan costs calculator can provide an indication of what costs will be involved.
