Home Loan Fees & Other Costs

Buying a property costs more than just the purchase price. When it comes to getting a home loan, government fees can be a factor in knowing how much to budget. It's important to be aware of all the additional costs you'll incur when buying a property – and budget for them accordingly before you sign a contract.

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Government Fees

It is important to be aware of any government taxes or home loan fees, e.g. Stamp Duty, Mortgage Registration and Transfer Fees, that may apply to your purchase as they can sometimes be quite large and can vary according to the purchase price of your new property and the amount you borrow.

  • Stamp duty can be one of the biggest costs outside of the purchase price and varies by State
  • GST may apply to the inspection and valuation of new properties. It may not be payable on bank charges and fees or when you buy an established property
  • Some states and territories offer stamp duty reductions or exemptions on stamp duty for some first home buyers

Extra cost considerations

Before you buy, it's important to not only obtain legal advice, but to properly inspect the home for any pests and building issues to ensure you aren't faced with any unwanted (and costly) surprises down the track.

Pest and building inspections

These should be arranged before any contracts have been signed, and ideally before you make an offer or consider signing a contract subject to building and pest inspections.

Legal Fees

A quality legal team will secure your purchase. They will investigate your property by carrying out the property searches that need to be done. They will review and explain the sale contract guiding you through the often-confusing legal process.

Property Valuation

Property valuations give you an independent view on how much the property is actually worth, so you can feel some comfort that the asking price for a property is reasonable and take the next step with confidence.

Planning to refurbish, update, or improve your property?

Before you get building, you may need to seek approval, and in some cases special permits, from your local council before you can start making these changes. Get in touch with your local council to see what approvals you need.

Lenders Mortgage Insurance

If you borrow more than 80% of the purchase price for Full Doc Loans you will need to pay Lenders Mortgage Insurance to protect the Bank against potential loss in the event of a forced sale of a mortgaged property.

Home/Building Insurance

It's a requirement that you take out insurance for a mortgaged property, to protect both you and the Bank in the unfortunate event of damage or destruction of the property.

You should carefully consider which insurance product and what level of cover is right for your individual needs, as this will help you get back on your feet quickly if you ever experience an insured loss or damage.

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Other potential costs

  • Utilities (phone, internet, electricity and gas)
  • Council and water rates
  • Body corporate fees
  • Removalists & cleaners (or DIY and save!)
  • Any new furniture or white-goods
  • Ongoing maintenance

A range of fees and charges apply both to home loan applications and home loans. You should make sure you understand all the costs before you apply. Download our Lending Fees and Charges brochure, or pick one up from your nearest Suncorp Bank store.

Fees for our Back to Basics Variable home loan – Our lowest variable rate

Fees for our Standard Variable home loan – Our offset facility loan

Fees for our Fixed rate home loan

Make your next home loan move with confidence

100% obligation-free support

Our experienced home lending team are happy to answer all your lending questions. They’ll call you within two hours (or next business day) to discuss your home lending needs.

Talk to a home loan expert

If you’d like to speak to someone straightaway, please call 13 11 75 Mon-Fri 8am-7pm and Sat-Sun 9am-2pm (AEST)

Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722 (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of these changes for each product can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.

Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.