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Home Loan Fee Calculator

Frequently Asked Questions

Q. When do I pay stamp duty on a property purchase and how much is it?
Q. When do I pay stamp duty on a mortgage and how much is it?
Q. When do I pay registration fees on a property purchase and how much is it?
Q. Why do I have to pay registration fees twice when I buy a property?
Q. What is a title search and how much does that cost?
Q. Why do I need a Solicitor or Conveyancer to act on my behalf?
Q. How much is ANZ's loan approval fee and how often do I have to pay it?
Q. Are there any costs incurred when refinancing a property?
Q. How much cash do I need to contribute when buying a property?
Q. How much cash do I need to contribute when refinancing a property?
Q. What is LVR and what does it mean?
Q. What is Lenders Mortgage Insurance and how much does it cost?
 

Q. When do I pay stamp duty on a property purchase and how much is it?
A. When you buy land in any state of Australia, which may include buildings, you are liable to pay stamp duty to the government. The amount varies between each state.

The duty payable is based on the market value of the property or the purchase price, whichever is the greater. Your solicitor/conveyancer will usually pay this amount to the applicable government authority on your behalf.

The ANZ Home Loan Fee Calculator will automatically estimate the amount of stamp duty you need to pay.

Stamp duty exemptions and concessions may apply in some circumstances. It pays to check with your solicitor or conveyancer to see if you are eligible.
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Q. When do I pay stamp duty on a mortgage and how much is it?
A. Mortgage documents taken in Australia attract Ad Valorem stamp duty to make them legal documents. This duty is usually paid to the applicable state authority on your behalf by ANZ. In some states this duty is not payable for refinancing.

The amount payable is determined by the size of the loan and varies in each state.

In some states such as Victoria, the stamp duty on a mortgage has been abolished and no longer needs to be paid. Please refer to the State Revenue Office (SRO) website for your state or territory for more details.

The ANZ Home Loan Fee Calculator will automatically estimate the amount of stamp duty you need to pay.
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Q. When do I pay registration fees on a property purchase and how much is it?
A. Whenever a property changes hands a document known as a Land Transfer is lodged and registered with the appropriate State Titles Office. It is this document that records the change of ownership.

The cost to register the title varies in each State/Territory. Your solicitor/conveyancer will usually perform this task on your behalf.

The ANZ Home Loan Fee Calculator will automatically estimate the amount of the registration fee you need to pay.
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Q. Why do I have to pay registration fees twice when I buy a property?
A. In addition to the registration fee payable on the land transfer there is also a government charge to register the mortgage document. This charge is usually paid to the applicable state authority on your behalf by ANZ.

The ANZ Home Loan Fee Calculator will automatically estimate the amount of the registration fee you need to pay.
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Q. What is a title search and how much does that cost?
A. Whenever a property changes in ownership or is refinanced a search of the Certificate of Title is obtained from the Titles Office. This is to check if there are any encumbrances on the title (an encumbrance would include things like mortgages, caveats, restrictive covenants etc.) This search is also used to check that the details on the Certificate of Title are correct. The cost of the search varies in each State/Territory and is usually paid on your behalf by your solicitor or conveyancer or ANZ.

The ANZ Home Loan Fee Calculator will automatically estimate the amount of the search fee you need to pay.
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Q. Why do I need a Solicitor or Conveyancer to act on my behalf?
A. You are able to act on your own behalf when purchasing a property, however, the documentation and settlement process can be quite complicated and includes many legal issues. Buying a home is often the biggest purchase you will ever make and it is strongly recommended that you commission the services of a solicitor or conveyancer, who are experts in this area, to ensure that everything runs smoothly and is done correctly. Solicitor or conveyancers charges vary from state to state and in accordance with the amount of time and work required.

The ANZ Home Loan Fee Calculator will estimate the amount of conveyancing fees that are payable.
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Q. How much is ANZ's loan approval fee and how often do I have to pay it?
A. The Standard Loan Approval Fee is $600.

The ANZ loan approval fee is a single up front fee and includes documentation search costs, loan approval, valuation and loan processing.
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Q. Are there any costs incurred when refinancing a property?
A. When refinancing 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.

The ANZ Home Loan Fee Calculator does not estimate these costs. 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 to refinance situations.

The ANZ Home Loan Fee Calculator will estimate these costs for you.
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Q. How much cash do I need to contribute when buying a property?
A. ANZ will usually lend you up to 80% of the value of property without Lenders Mortgage Insurance (LMI) and up to 95%* of the value of the property with LMI. The amount ANZ will lend is sometimes less for different types of property.

You will need to contribute sufficient funds to cover the transaction cost in addition to the deposit required.

The ANZ Home Loan Fee Calculator will help you estimate these transaction costs and therefore how much cash you will need to contribute to complete the purchase.

* available for eligible existing ANZ customers who have had a retail lending product for greater than 6 months with a satisfactory credit history.
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Q. How much cash do I need to contribute when refinancing a property?
A. When refinancing ANZ will usually lend you up to 80% of the value of property without Lenders Mortgage Insurance (LMI) and up to 95%* of the value of the property with LMI. The amount ANZ will lend is sometimes less for different types of property.

If your existing borrowings are less than 90% of the property value you may not have to contribute any funds and any costs incurred may be included in the loan amount.

* available for eligible existing ANZ customers who have had a retail lending product for greater than 6 months with a satisfactory credit history.
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Q. What is LVR and what does it mean?
A. LVR stands for Loan to Value Ratio. The LVR is the amount you are borrowing represented as a percentage of the value of the property offered as security. To work out the LVR, divide the amount you are borrowing into the value of the property e.g.

$120,000 (Loan Amount) $250,000 (Property Value) = 48% LVR
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Q. What is Lenders Mortgage Insurance and how much does it cost?
A. Lenders Mortgage Insurance (LMI) is a form of insurance that is used to protect ANZ against financial loss when a borrower defaults and a shortfall arises following the sale of the security property. The premium is paid by the borrower and protects ANZ in the unlikely case that a loss is evident after the mortgaged property is sold.

The premium for LMI is payable once only at the commencement of the loan and protects ANZ for the life of the loan. The premiums are determined based on the amount of the loan and the Loan to Valuation Ratio.

ANZ usually requires Lenders Mortgage Insurance whenever the Loan to Valuation Ratio (LVR) is above 80%. LMI may be required when LVR is below 80% for some types of property. For more information on when LMI is required please contact ANZ.

The ANZ Home Loan Fee Calculator will determine whether you need to pay LMI (in most cases) and the amount payable.
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