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first home buyers


Finance costs


There are some costs that will/may be associated with arranging your home loan as follows:

  • Loan application fee
Up to $500 may be charged by the lender, however by applying through Beyond Mortgages this can be negotiated
  • Registered valuation fee
If a valuation is required this will cost approximately $700-$1200
  • LEP or LEM
Low Equity Premium or Low Equity Margin
Please be aware that in most cases where a lender is lending over 80% of the property value. Lenders charge a Low Equity Premium (LEP) this can be a one off cost and in most cases can be capitalised on to the loan or paid for by cash. Low Equity Margin (LEM) is where Lenders can add a margin to any given interest rate for any lending over 80%.  If LEP or LEM is required it does not provide the borrower with any form of insurance protection.  It is enforced by the lender to allow them to lend you a higher than preferred LVR (loan to value ratio) on a property.  Ask your adviser for a more in depth explanation.
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