A fee charged by a lender when a mortgage is paid off (discharged) from the property's title. Typically $150–$400. Also called an "exit fee" at some lenders, though these were banned for new loans taken out after 2011 in Australia.
Property glossary
Property glossary
A fee charged by a lender when a mortgage is paid off (discharged) from the property's title. Typically $150–$400. Also called an "exit fee" at some lenders, though these were banned for new loans taken out after 2011 in Australia.