Purchasing without the stress

For most of us, buying a home will be the largest and most expensive purchase we will ever make. It will also be the most stressful and can be extemely time consuming. However, by choosing to purchase through our acquistions service, you can pass this stress onto us. Click here to go Acquistion Services.

Understand the costs of buying a property

Solicitor's fee's are negotiable, but average around $800-$2,500
When borrowing money, there may be a loan application fee of $600 to $1500 which is sometimes waived. Stamp duty on the mortgage 0.4 per cent above $16,000
Mortgage insurance of 1 per cent of the mortgage amount may be payable at the begining of a new mortgage if you're borrowing more than 70 to 80 per cent of the property valuation.
The banks and lenders have other fees for new mortgages which average around $550.

Approximate Stamp duty costs that apply to Non first home buyers
¾ Property value of < $14K (1.25%)
¾ $14K and up to $30K ($175 + 1.5%) of the value in excess of $14K up to $30K)
¾ $30K and up to $80K ($415 + 1.75%) of the value in excess of $30K up to $80K)
¾ $80K and up to $300K ($1,290 + 3.5% of the value in excess of $80K up to $300K)
¾ $300K - $1m ($8,990 + 4.5% of excess up to $1m)

First Home Buyers - Stamp Duty Exemptions $0 payable < $500K. - all NSW

Why should you get your mortgage organised before you look for your property?

Murphy's Law! If you are not in a position to buy your property when you locate it, because you do not have your finances organised the chances are very high that you lose it to another property purchaser. This then creates a very common syndrome where you will continue to look for that same property that you have lost. This search can go on for long periods of time, until a realization takes place that you will not find that same property. Please avoid this heart ache and pain, by getting your mortgage organised before you look for your property. Unfortunately it's not as simple as finding the lowest advertised interest rate or a "no fees" deal. Low "honeymoon" rates for the first year or two can hide other charges and give a false sense of security you, get used to a monthly repayment and a year later it goes up. Choosing the right lender can save you thousands of dollars over the period of the loan and make a difference of up to 30 per cent in how much you can borrow. At Fusion Realty we can calculate across a wide range of lenders to determine which loan best suits your circumstances, then we will advise you of how much you can borrow. Loan approvals "over the phone" are not binding and we always recommend to obtain a written loan approval before bidding at an auction.