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Types of loans and features
11
Loan Product Features
1
Types of Interest rates
1
Fixed Rate
Variable Rate
Split Loans
Introductory / Honeymoon Rates
Prinicipal & Interest / Interest Only
1
Types of Lenders
1
Banks
Building Societies and Credit Unions
Retail Lenders
Specialis non-banks
1
Fees, costs and charges
1
Upfront Setup Costs
Ongoing Costs
1 Discharge Fees
   
   
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Fees, Costs & Charges
Discharge Costs
Fees, Costs & Charges
  Lender's discharge feesThese fees cover the lender's cost of paying out your loan
Deferred establishment feesThese fees may apply if you decide to pay off your loan early, usually within 3 to 5 years of establishing the loan. The fees are generally calculated as a % of the initial loan amount and sometimes reduce over time. The costs can be substantial; therefore you should consider them carefully if it is possible that you will pay off the loan within 5 years.Discharge registration feesThese government fees are charged for the releasing the mortgage/s held against your property/ies.
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