If I opt for a home loan transfer, does the second bank charge loan processing fee? Is it justified? - Yes, the new bank to which you are transferring your home loan will charge you a loan processing fees, legal charges, valuation fees, stamp duty and other charges associated with the loan. Since the second bank will be offering you a new loan, they are well within their right to charge the associated fee for the loan. These charges may nullify the advantage you may be gaining on possible transfer. So before you consider a home loan transfer, compare the benefits of reduced interest rates offered by the new bank after deduction of all loan processing charges and hidden charges. - Home Loan Interview Questions and Answers

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Question: If I opt for a home loan transfer, does the second bank charge loan processing fee? Is it justified?

Answer: Yes, the new bank to which you are transferring your home loan will charge you a loan processing fees, legal charges, valuation fees, stamp duty and other charges associated with the loan. Since the second bank will be offering you a new loan, they are well within their right to charge the associated fee for the loan. These charges may nullify the advantage you may be gaining on possible transfer. So before you consider a home loan transfer, compare the benefits of reduced interest rates offered by the new bank after deduction of all loan processing charges and hidden charges.

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Question: If I opt for a home loan transfer, does the second bank charge loan processing fee? Is it justified?

Answer:

Yes, the new bank to which you are transferring your home loan will charge you a loan processing fees, legal charges, valuation fees, stamp duty and other charges associated with the loan. Since the second bank will be offering you a new loan, they are well within their right to charge the associated fee for the loan. These charges may nullify the advantage you may be gaining on possible transfer. So before you consider a home loan transfer, compare the benefits of reduced interest rates offered by the new bank after deduction of all loan processing charges and hidden charges. Source: CoolInterview.com

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