This may be a strange question but im wondering if this is the norm. I recently refinanced to ANZ and after settlement i expected paperwork showing the breakdown for each payout. Similar to what Ive had before when purchasing an investment. I get details of disbursements so i can actually see what the costs were.
ANZ have just sent me notification of loan drawdown amounts and when i reconcile to what was paid to my old lender there is at least $2000 oustanding. i really wasnt expecting refinance to cost this much (amount is after taking into account my old lender's discharge fee costs).
Wanted to know what others have experienced.
Hi MrcS
Ask the branch staff or broker to get in touch with perpetual for the breakdown.
You should also receive a statement from your old lender providing a breakdown of the exit costs.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Mrs C,
This does seem to happen, but as Jamie said, this info should be available from your outgoing lender on your final statement – the new lender pays what the old one asks. Bear in mind, some of this could be interest – as it is charged in arrears, and you could have almost a full months interest added onto what the actual loan balance was when you looked last.
Cheers
MrsC wrote:This may be a strange question but im wondering if this is the norm. I recently refinanced to ANZ and after settlement i expected paperwork showing the breakdown for each payout. Similar to what Ive had before when purchasing an investment. I get details of disbursements so i can actually see what the costs were.
ANZ have just sent me notification of loan drawdown amounts and when i reconcile to what was paid to my old lender there is at least $2000 oustanding. i really wasnt expecting refinance to cost this much (amount is after taking into account my old lender's discharge fee costs).
Wanted to know what others have experienced.
The breakdown wll probably be on the loan statements.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks for your replies. I haven't received first statement from ANZ yet but i just called and spoke to their settlements team for the balance of legal fees and govt fees etc. I refinanced 4 loans with them so there was a few costs to check. Its all good now!
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