MyRate Education Centre
Government Fees
Government fees are applicable no matter who you take out your loan with, unlike lender fees, which can be negotiable and depend on the lender.
There are four types of government fees:
- Stamp duty on purchase price
- Stamp duty on the loan amount (Mortgage Duty)
- Mortgage registration fee (charged on both purchases and refinances)
- Transfer fee (charged on purchases)
Government fees vary from state to state. For example:
- NSW has waived stamp duty on the loan amount (Mortgage Duty)
- In some states, there are 2-3 different Mortgage Registration fees.
Government fees vary from state to state and are usually charged at settlement with the costs deducted from the loan amount. We recommend you check with your State Revenue Office if any fees are applicable and if you are eligible for a refund post settlement.
Refinances:
When you refinance you may be charged a government stamp duty on the loan amount. Again, we recommend you check with your State Revenue Office if any fees are applicable and if you are eligible for a refund.
First home buyers:
If you are a first home owner you may be exempt from some of these fees. Check out our First Home Owner Grant Guide for more information.
| A common misconception: |
| Mortgage Registration Fee is a Government fee not a Lender fee. |
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