The costs of getting a mortgage:

Whether you are buying a new home or your first home, or looking to refinance an existing mortgage, there are costs in the process that you should be aware of. Circumstances are all different, so the costs will depend on the nature of the borrowing and the perceived risk to the lender.

Sometimes you can include (capitalise) these costs into the mortgage, other times you may have to pay these up front. Your mortgage adviser will be able to give you an idea of what you could expect to have to pay for as part of the application process. They may also be able to point you in the direction of professionals who offer the appropriate services.

In the meantime, here is an approximate guide of what some of these costs maybe,

* Solicitors Fees, $450 - $1500,
* Loan Application Fees, this can be either a $ amount, or upwards to 1% of the loan amount,
* Registered Valuation $500
* LIM Report $150
* Builders report $600
* Furniture movers, trailer hire, switching utilities, storage, and a bottle of champagne to celebrate, should also be considered.

There are no hard and fast set prices, as each professional will price according to the nature of the work involved. Likewise, you may not need all of the services above. Your mortgage adviser can be more specific as to what you will need to do as part of the application process; then you will be able to find the right specialist that is appropriately priced for the job.


Colin Leader NZIM Dip Man
Mortgage Adviser
Financial Independence Ltd

P 07 578 4414 ext 707 | 0800 694 672
F 07 578 4814
M 027 2535 069
E e-mail Colin
INSURANCE | MORTGAGES | KIWISAVER