Q: If I am refinancing to another bank, will I need to pay stamp duty?
A: No you will just have a discharge fee from your current lender and a transfer fee from your state government.
If you are currently in a fixed rate there may be additional break fees if you refinance prior to the expiry of the fixed rate period.
Generally my clients see a cost of approx $400-600 depending on their lender and state
Q: What lenders cap LMI above 95% for Owner Occupier, other than BoQ to 99%, Bankwest to 98%?
A: St George and Westpac will still go to 97% and ME Bank will go to 97% for first home buyers
Q: When my fixed rate loan period ends - do I just automatically switch back to variable with the same lender without having to bother with paperwork etc?
A: Hi Trevor
Generally speaking you will roll over to a variable rate at the end of your fixed term if you do nothing. There shouldn't be any paperwork involved in this process.
I would recommend talking to your broker to discuss options as the variable rate you get put on probably won't be very competitive in today's market.
You also have the option to go onto a new fixed rate as well if you prefer.
Happy to have a chat any time to discuss further