What are government fees?

There may be a number of fees and costs involved when refinancing your home or purchasing a home which include government fees.

There may be a number of fees and costs involved when refinancing or taking out a new home loan. However, we believe your home loan should work for you, not against you, that’s why we don’t charge fees such as:

  • Application fees
  • Settlement fees
  • Account bank fees
  • Account keeping fees
  • Transaction fees
  • Discharge account closure fees
  • Discharge settlement fees  

In certain circumstances, you may be required to pay a lenders mortgage insurance (LMI) premium. Learn more about why this is applied and how it works.

Government charges may apply. These may include:

  • Mortgage registration fee
  • Mortgage discharge fee
  • A transfer fee
  • Transfer duty (also known as stamp duty)

What is a mortgage registration fee?

A mortgage registration fee is charged by state and territory governments, and cover the costs to register the security for a home loan. It officially registers the physical property as the security on your home loan.  

What is a mortgage discharge fee?

A mortgage discharge fee may be charged by your existing lender when you’re refinancing your home loan to us. This releases the title from your existing mortgage for you to register a new mortgage on the title.  

What can I expect to pay?

So, what are fees required by the Australian government? The cost of the mortgage registration & discharge fee varies depending on which state or territory you live in. Here’s what you can expect to pay:

State Mortage Registration Fee Mortgage Registration Discharge Fee
NSW $171.70 $171.70
VIC $131.90 $131.90
QLD $231.98 $231.98
SA $192.00 $192.00
WA $210.30 $210.30
TAS $159.88 $198.22
NT $172.00 add $67 for each additional title $172.00 add $67 for each additional title
ACT $172.00 $172.00

We do our best to keep this information up to date, as these fees are subject to change. We recommend checking with the relevant state or territory government body to confirm the current fee. If you choose to settle with Unloan, the current fee at time of the settlement will apply.

What is a transfer fee?

A transfer fee is charged by state and territory governments to transfer the property title from one owner to another.

Fixed Fee Fee is dependent on the property purchase price
  • NSW
  • ACT
  • NT
  • TAS
  • QLD
  • SA
  • VIC
  • WA

What is transfer duty?

Transfer Duty (also known as Stamp Duty) is a government tax that typically needs to be paid within 30 days of settlement. Factors that determine how much stamp duty you pay include:

  • The state or territory in which your property is built
  • The price of your property
  • If you're a first home buyer or investor

Transfer duty is often the biggest cost after your deposit and mortgage, so it's important to take this into account when deciding if you can afford a property.

Learn more about fees involved when purchasing and refinancing, and upfront costs and charges imposed that are associated with buying a home.

‍

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval; satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000.

^ Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. This discount is applied to each loan that you have with Unloan. If you have multiple loans (e.g. one investor and one live-in loan), they will each have a discount calculated based on when you settled each loan. Unloan may withdraw this discount at any time.

There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.

* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.

Related articles

What is cash out refinancing and how does it work?
What are your options when a fixed rate term ends?
Unloan’s 6 step guide to refinancing and how it works

Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

^Rates shown are inclusive of a 0.01% p.a. discount off our reference rate. On each anniversary of your loan’s settlement date, you will receive an additional discount of 0.01% per annum, up to a maximum discount of 0.30% per annum. For purchase loans with a Loan to Value Ratio (LVR) between 80.01% - 90% LVR, a lenders mortgage insurance (LMI) premium and higher interest rate apply. In some cases depending on the property’s location or type, LMI may also be required for LVR between 70.01% and 80%.

*Comparison rate is calculated on a $150,000 secured loan over a 25 year term. 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.

A home loan you can love

Low rates, with a discount that gets better and better.

No fees from us

No application fees, no account-keeping fees, no annual fees.

Apply in minutes

Switch to Unloan today.

Built by CommBank

Unloan is a digital home loan, built by Australia's leading bank.