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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
1 Upfront Setup Costs
Ongoing Costs
Discharge Fees
   
   
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Fees, Costs & Charges
Upfront Setup Costs
Fees, Costs & Charges
  Application feesPayable at the time of application.Establishment / settlement feesPayable when the loan is settled.
Loan documentation / Lender's legal feesPayable to cover the lender's cost of producing the loan documents.
Valuation feesPayable to cover the lender's cost of assessing the value of your property.Lenders' Mortgage Insurance ("LMI") premiums
Payable to cover the lender's cost for LMI premiums.Mortgage registration, transfer fees & mortgage stamp dutyPayable to the applicable state government.
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Professional Lenders Association Network of Australia
Mortgage & Finance Association of Australia
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