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How much will refinancing cost?
How much will refinancing cost?
You need to take all costs into consideration when working out whether refinancing will provide significant savings.
On the plus side, there’s no property stamp duty or mortgage duty. You will also save on not needing a legal representative such as a solicitor.
Here are some of the expenses to consider. Print out this page, and fill in the specific details for your loan and your property.
| Costs to discharge your current home loan |
| Discharge fee |
This fee is for your current mortgage provider to process your request |
$ |
| Penalty fees |
Any cost or fee from breaking your agreement with the mortgage provider early |
$ |
| Registration fee |
This is a government fee |
$ |
| Costs to apply for your new home loan |
| Registration fee |
This is a government fee |
$ |
| Application fee |
Check what application fees may be payable |
$ |
| Valuation fee |
The cost to value the current market price of your property |
$ |
| Legal costs |
Are there any legal costs required? |
$ |
| Lenders Mortgage Insurance |
If you are borrowing more than 80% of the value of the property, Lenders Mortgage Insurance is required. If you paid it originally, you will need to pay it again as it will not cover your new lender |
$ |
| Title search fee |
To ensure you are the owner of the property |
$ |
| Settlement fee |
Is there a fee at settlement? |
$ |