Exit Fees

Exit fees are charged by financial institutions to borrowers who wish to exit from their current home loans. Exit fees are also referred to as mortgage break fees and are usually charged if the borrower wishes to exit from their loan within the first five years, however this may differ between each lender. The amount that a lender charges for exit fees will also vary depending on the length that you have had the loan for, the amount owing and the term remaining on the loan.

Ensure that you read the product disclosure statement and speak to your lender to find out the exact amount they will charge in exit fees if you are considering terminating your home loan.

If you are in the market for a home loan, the table below list variable rate home loans with an advertised interest rate of less than 7.85 percent.