PRODUCT FEES
- Can come in the form of a flat rate or percentage of the overall loan and is sometimes refundable when the loan doesn’t go through (as long as it’s out of your control)
- Can typically be added to the loan if necessary
- Payable when borrowers want to take advantage of fixed-rate mortgages
APPLICATION FEES
- Often charged on some or all mortgages to cover the costs of processing and assessing applications
- The fees can vary from one lender to another, sometimes costing as little as $400 or higher than $10,000. This can sometimes include a basic property valuation.
HIGH LEVERAGE CHARGES
- When the loan to value ratio exceeds the defined threshold
ADVISOR FEES
- Sometimes charged by the intermediatory for mortgage arrangement
- This should always be stated in the intermediately initial disclosure information
- Usually comes in the form of a fixed fee, although some may prefer to charge a small percentage of the mortgage advance instead (particularly in the case of non-standard mortgages)
- Sherwood Finance may receive a finder’s fee from lending advice employed by a lender. This doesn’t need to be disclosed
LET US HELP YOU FIND
THE SUITABLE SERVICE
We offer an end to end financial solution with a focus on making the
process as simple and stress-free as possible.
LET US HELP YOU FIND
THE SUITABLE SERVICE
We offer an end to end financial solution with a focus on making the
process as simple and stress-free as possible.