Need to Refiance?
Refinancing is the process of paying out your current loan and taking out a new loan with a different lender or a different loan that better suits your needs.
What are the costs associated with buying and owning an investment property?
Stamp Duty (or transfer duty) is a one-off state-based tax that varies according to the state or territory where you are purchasing. Some states offer discounts to first home buyers, such as the First Home Buyers Assistance scheme in NSW.
Other Government Fees – include mortgage registration fees and transfer fees and vary by state.
Pest and building inspections – these will help identify any poor building work and pest problems that may cause issues in the future.
Conveyancer or solicitor fees – a licensed conveyancer or solicitor can help you to review the contract of sale and transfer the property into your name. Their fees may vary, so make some enquiries before committing to a particular solicitor or conveyancer.
Ongoing costs can include accountant fees, body corporate fees, insurance, council and water rates, land tax, repairs and maintenance, and management agent fees.
Should I refinance?
There are costs associated with refinancing, such as lender discharge fees and establishment fees. We can help you to assess any potential costs and savings in relation to your individual circumstances to see if this is a suitable option for you.