Are there any costs incurred when refinancing a property?
When refinancing a property it is common that the existing financial institution will charge fees relating to discharging their mortgage and arranging a settlement. Early repayment fees and charges may also apply.You may need to refer back to your original loan contract or request this information direct from your current lenders.The normal transaction costs such as stamp duty and registrations will apply in refinance situations. Q. How much cash do I need to contribute when buying a property? Dynamic Loans will usually lend you up to 80% of the value of the property without Lenders Mortgage Insurance (LMI) and up to 95% of the value of the property with LMI. The amount most lenders will lend is less for different types of property.You will need to contribute sufficient funds to cover the transaction cost in addition to the deposit required. Q. How much cash do I need to contribute when refinancing a property? When refinancing lenders will usually lend you up to 80% of the value of the
