What other costs should I consider when getting a loan?

There are many other costs you need to think about when organising a home loan: application fees; valuation fees; settlement fees; ongoing account keeping fees; variation fees; repayment holiday fees; security substitution fees; discharge fees...
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There are many other costs you need to think about when organising a home loan:

  • application fees;
  • valuation fees;
  • settlement fees;
  • ongoing account keeping fees (which can be charged monthly or yearly);
  • variation fees;
  • repayment holiday fees;
  • security substitution fees (which can be used to change the property that secures a loan);
  • discharge fees (which apply when a loan has been repaid, enabling the mortgage to be released and the property to become unencumbered);
  • Lender Mortgage Insurance (LMI) fees. These are paid on all home loans by the lender to a third party or in-house insurance organisation. It’s charged to you if the loan amount is 80% or more of the lender’s valuation of the property you are purchasing.

uno’s home loan experts can help you understand these fees. Contact us on 133 866 or via online chat.

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* Three year fixed rate, owner occupier, P&I loan with a maximum LVR of 95% and a loan amount >$150,000. Lender rates and products may change. We cannot suggest you remain in or switch to any loan until we complete our assessment. Fees and charges apply. ^ WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. ± All loan applications are subject to uno assessment and lender approval. uno does not guarantee that it will be able to find a customer a better loan than the one they currently have or to save them money.