Can someone please give me a rough rundown of the various costs involved in switching home loan lenders? We are in Qld. Current loan is a couple of years old and variable, so not subject to the old break fees.
Would be looking at a loan of less than $200k, with an LVR of 80%
We're considering the offer that Suncorp is currently running, which has no application fee, and they're waiving the account fee for life.
So is it just whatever fee the current lender charges as an exit fee, and duties payable for registration of the new mortgage, and discharge of the current one …… valuation if the new lender requires one?
Am I missing anything from this list?
I'm afraid any mortgage brokers within 100km of us are a total waste of time. We tried desperately to go through one when we purchased but it was just plain hard work on our part. Our loan mustn't have been big enough for them to consider it worth their time.
A mortgage broker will be able to give you the exact cost, but it's typically $500 to $600 application fee, plus whatever early exit fees your current loan has - which can vary a lot from one loan to another.