PEXA Transactions Service Fees

[SarahF]

Will any of the PEXA transaction fees be increasing in the new financial year?  I am in the process of preparing adjustments for a development settlement, settling 3rd July 2017, and wanted to ensure any new fees (i.e. Transfer and Discharge) were incorporated.  If so, when will this information be posted to the website?

[ChrisBodikian · Accepted solution]

Hi Sarah,

Thanks for the question! Yes PEXA prices will be increasing on 1 August.

PEXA is undergoing its annual pricing review and the updated prices will be communicated to you in the coming weeks.

Please let me know if I can provide further clarification!

Regards

Chris

[DMc]

Any chance they could also be posted on the dashboard, & here in this community, & also on the main PEXA pricing page (www.pexa.com.au/transfers#pricing-transfers)

[EmilyBilling]

Hi @SarahF and @DMc

The updated pricing information has been posted on Community here. 

Cheers

Em

[Karla]

Hi,

What is happening with 2018 fees... The list now shows there is a fee of $20.46 for discharge of mortgage.

Does that mean if clients are selling, and we have a bank which is discharging, our clients will be charged $112.64 for settlement, and then $20.46 for discharge... Should this fee be allowed to the purchasers or will our clients be charged as vendors on settlement?

If so, this is such a difficult way of doing things. There should just be a set settlement fee!

If we settle matters with paper and there is a discharge, we don't get charged an extra fee just because there is an extra party discharging.

Can PEXA take a moment to realise how annoying its going to be to prepare estimate of costs and tax invoices are going to be now?

Cheers.

[Ames]

Hi @Karla

There has always been a PEXA fee for discharge of mortgage.

PEXA fees are typically not adjusted* and are charged to the transacting party based on role - those representing the Vendor and Purchaser will see the transfer fee in the settlement schedule. Often you won't see the PEXA fees payable by those representing the incoming and outgoing mortgagees, as many banks have their fees set to direct debit. However, sometimes you will see the line item for their PEXA fee in the settlement schedule.

Here is a link to more information about PEXA fees and lodgement fees, which provides more detail on these topics.

*Discharge of Mortgage Lodgement fees, however, are to be adjusted/allowed to the purchaser.

Ames.