on 31-05-2019 12:09 PM
Can someone please clarify who pays for the PEXA transaction servie fee if you represent the Outgoing Mortgagee in a Refinance scenario?
on 31-05-2019 01:13 PM
I believe the answer depends on the transaction and number of titles, etc.
See link which should help: https://www.pexa.com.au/pricing
on 31-05-2019 02:11 PM
I would think the mortgagor pays that fee, seeing as the bank would usually see that as another cost of performing the discharge (eg the mortgagor usually pays for the discharge of mortgage registration fee and the bank's usual admin fee for performing a discharge).
31-05-2019 02:16 PM - edited 31-05-2019 02:17 PM
For refinance scenario, each subscriber is responsible for their own PEXA service fee.
The exception is if it is a Fast Refinance, in which case the Incoming Mortgagee covers both subscriber's service fees.