Mortgage & Refinancing

 

When it comes to buying property many purchasers pay little attention to their loan contracts. Prior to securing your finance or even after settlement Stewart Law Conveyancing can assist you in fully understanding what it is you are signing.

Mortgage documents can be quite lengthy and complex but in general they cover items such as the purpose of the loan, security and the fees and charges associated. Our expert solicitors or conveyancers will explain all common clauses which may apply to your mortgage, your responsibilities to service the loan, the lenders responsibilities to you as a borrower and all other necessary information required to provide you with proper and sound advice.

One of the most common areas of concern for borrowers is what fees will be charged. These fees can include but are not limited to:

  • Bank fees (application fee, bank cheque fee, valuation fee, loan maintenance fee);

  • Government charges (mortgage registration fee, mortgage stamp duty, transfer duty (etc);

  • Other fees and charges (any other unique fee which does not fall under bank or government fees, such as a search service fee);

  • Bank discharge fees – only charged if you discharge the mortgage before a particular term has expired. This fee may include bank and legal costs of preparing the discharge and may begin from around $400, but will be ascertainable when the discharge happens;

  • Government discharge fees – This is payable to the bank or lender in reimbursement of Land Titles Office fees and charges if incurred by your lender.

Although different lenders have different policies at Stewart Law Conveyancing our expert solicitors and conveyancers will work with you and try and negotiate better terms where possible. 

 

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