mortgage

This document is Fees and Charges.

It is part of the supporting resources for Assessment Task 2 of FNSFMB512.

Morgan Mortgages

Fees and charges

Our team of mortgage brokers get paid a commission by the lender when you receive your home loan, but we don't charge you a fee for your appointment.

Below are common fees and charges that clients experience:

Lenders fees

Loan Approval fee $600.00

Annual package fee $395.00

Loan Monthly fee $10

Lenders Mortgage insurance (if applicable) Depends on lender and property

Other costs

Stamp Duty on property For a property between $3000,001 and $1m, the rate is $8,990 plus $4.50 for every $100, that the value exceeds $300,000

Stamp Duty on Mortgage This is on a sliding scale. For a mortgage of $200,000, it is $741

Registration of land transfer $138.80

Registration of mortgage documents $138.80

Search if certificate of title $14.20

Conveyancing/Solicitor costs (estimated) $600.00

Australian Training School Pty ltd trading as Southern Academy of Business and Technology
95 Bathurst Street Sydney NSW 2000 | Unit 1, 159 Queen St, CAMPBELLTOWN | Suite 1 Ground Floor 97 Pirie St, ADELAIDE, South Australia| Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E
Version : 2.0	Last Updated : 30 Jul 2021	Next Update: 31 Jul 2022	Page 1 of 1