Fees Associated with Buying a House

Archive for the ‘Fees’ Category

Fees Associated with Buying a House

February 17th, 2011

Buying a house involves more than simply saving up for the down payment. There are a host of fees that the buyer will end up paying that will ultimately balloon the total cost of the mortgage and of the sale of the home.
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Redraw fees and the effect of spending on a mortgage

August 25th, 2010

Redraw fees are charged to borrowers who redraw an overpayment on a mortgage. There are a number of reasons why a person might want to use their mortgage’s redraw rights, but it’s a good idea to have a clear idea about the charging structure.

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Should I avoid mortgages with overpayment penalties?

June 17th, 2010

Mortgages with overpayment penalties can seem to be very undesirable.  However the advantages may often overwhelm the costs and overpayment penalties may not seem as draconian as they may seem when they are first looked at.

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What is the difference between a redemption penalty and an overpayment penalty?

June 8th, 2010

Many home owners realise that one of the best things that they can do with any spare money that they have is to pay down their mortgage.  There is one issue that they can often have, and that is that many home loans can have either redemption or overpayment penalties.

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Why redemption fees matter

June 7th, 2010

Redemption fees are the fees that are charged when a mortgage is paid early.  They can matter greatly when a person has their own mortgage and wants to renew the mortgage for a cheaper mortgage or a mortgage with better terms.

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