NSW Government Fees

Discussion in 'Loans & Mortgage Brokers' started by Sir Savien, 4th Mar, 2019.

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  1. Sir Savien

    Sir Savien Active Member

    Joined:
    27th Jan, 2019
    Posts:
    34
    Location:
    Sydney
    Hi, I have been approved for a home loan with Westpac for an off the plan apartment. However, Westpac have charged me total government fees of $424.80 which include:

    Transfer registration fee $141.60
    Mortgage registration fee $141.60
    Mortgage discharge fee $141.60

    I had previously enquired with a broker and they said I would be charged 2x $141.60. I am not sure why I am being charged 3x $141.60.

    I have asked Westpac about this, and they have said that they charge the mortgage discharge fee in advance so that there is no need to pay it upon actual discharge of mortgage. They said that this is the norm in NSW and VIC. Is this the case?

    Also, is the transfer registration fee normally paid by the bank (who charge me) or by my solicitor and incorporated into the solicitor's fees?

    Thanks for the help!
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,598
    Location:
    Gold Coast (Australia Wide)
    your soli will subtract the discharge fee from the settlement amount

    You get a clear title at settlement

    Fees of that nature generally by the lender

    ta
    rolf
     
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,667
    Location:
    Australia wide
    Rolf's right. You pay if but are reimbursed by the vendor
     
  4. Archaon

    Archaon Well-Known Member

    Joined:
    20th Mar, 2017
    Posts:
    1,896
    Location:
    Newcastle
    Off the plan apartment?
    *groan*
     
    Sackie and Terry_w like this.

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