Pexa fee

Discussion in 'Loans & Mortgage Brokers' started by Mlee17, 19th Sep, 2020.

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  1. Mlee17

    Mlee17 Well-Known Member

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    Hi all.

    Are pexa fees charged twice at settlement for purchase of a property?

    I noticed in my loan documents for Macquarie, there is a pexa fee.

    Also in my statement of adjustments from the conveyancer , there is also another pexa fee. So I am slightly confused now.

    Can someone clarify?
     
  2. Terry_w

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

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    One would be for the settlement of the property and the other for the mortgagee attending settlement.
     
  3. Mlee17

    Mlee17 Well-Known Member

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    Mortgagee attending settlement? I thought everything is online so why is there a need to attend settlement?

    Also I noticed that I did not pay any additional pexa fees with my refinance with ANZ?
     
  4. Terry_w

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

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    Online settlement fee.
     
  5. Trainee

    Trainee Well-Known Member

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    A refinance does not involve a change in ownership.
     
  6. Terry_w

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

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    But ANZ would still need to attend settlement to receive the funds paying out the loan. They probably just wear the pexa fee.
     
  7. Mlee17

    Mlee17 Well-Known Member

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    thank you all for the clarifications
     
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