Quote:
Originally Posted by franko
Also, if your mortgage doesn't secure a collateral charge (secured line of credit) many lenders offer a zero fee transfer (no legal costs), although your existing lender will charge you a discharge fee and document fees (Big 5 banks charge for mortgage payout statements just like almost all lenders, sometimes they even are "accidentally" slow issuing the payout statement to the new lender so the client misses their maturity date to transfer).
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It's been my experience if you're moving among the big banks they will cover any fees or charges you get hit with so you wouldn't be out of pocket for those expenses.
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