Products and Services

Costs of Buying Property

Fees and duties, taxes and insurances - all the costs of moving can really start to add up. Here's a little bit more information about each one to help you to work out what you might have to pay.

•  Loan application fee
Valuation fee
Lenders' mortgage insurance
Property Stamp Duty
Mortgage Stamp Duty
Mortgage Registration Fee
Inspection reports
•  Removalist

Loan application fee

Sometimes called an establishment fee, you pay this to your lender for processing your loan. This fee varies from lender to lender, but usually shouldn't exceed $750.

Valuation fee

Your lender will arrange a valuation of the property to assess its value - allow approximately $250 for this.

Lenders' mortgage insurance

This one-off fee, paid by you, protects your lender if you fail to pay your loan and the property has to be sold, but the money raised does not cover the loan. Mortgage insurance is usually required if you are borrowing more than 80 per cent of the property value. It is is calculated on a sliding scale, depending on the loan amount and ratio, and can be expensive.

Property Stamp Duty

This tax is payable to the Government on most property purchases. The amount varies from state to state, and also depends on the value of the property.

Mortgage Stamp Duty

This fee depends on the size of your loan and is different from state to state.

Mortgage Registration Fee

This is a charge made by the Government to register your mortgage document.


GST does not apply to all properties, only to those built after 1 July 2000, and to new house and land packages. Some buying costs attract GST, such as conveyancing and solicitor's fees, valuation fees and moving costs, but the tax will be included in their invoices. You won't have to pay GST on a pre-owned property, and it doesn't apply to your loan repayments, bank charges, residential rents or council and water rates.


Fees for solicitors and conveyancers vary from State to State, and depend on the time and work that they have to carry out for your purchase. The fees should include checking the contract, carrying out searches, and generally making sure that the transaction goes smoothly.

Inspection reports

Having your property inspected is an important element of the buying process. Costs will depend on the size and condition of the property, and ease of access to concealed areas.


The cost of moving depends on many factors, including how much you need to move, the distance you are moving, and ease of access. Some removalists will give quotes over the phone, others will come to your house to assess how much you want to move. Get three or four estimates, and don't forget to ask about insurance - usually a percentage of the value of your goods.


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