What is the difference when obtaining a home loan in Australia in comparison to Indonesia?
• In Australia, borrowers have the option to prepay the loan at any time they wish. For instance, if the borrowers initially indicated the bank that they will borrow the money over 30 years, they can decrease the loan term by increasing the repayments or simply prepay the entire loan. However, please note that some banks will charge a deferred establishment or penalty fees for early prepayments within 3 years. The fee ranges from AUD 700 to few thousands dollar depending on the bank and loan products. Are there any hidden costs? All costs will be fully explained before you sign the contract. The following costs are not hidden costs, but additional costs which will vary according to which bank you choose: Application Fee including Valuation Fee $400 – $750 Account Keeping Fee $8 – $20 p.m. Discharge Fee (approximately) $250 Variation Fee $150 – $250 Who is best to help me with my home loan? Independent Mortgage Brokers – When a broker is not affiliated with any banks, they will give you
