In the list of charges for a bank loan , in section payable to Office of State Revenue (QLD) it has a fee title "Special Consideration fee" $340
I asked the National Australia Bank , lending officer , "What is this for , what triggers it?" Lending officers response was (accurately summerized), " Its a fee paid to OSR - i do not know anymore than that. No- one else in the bank knows any more than that. Get ur solicyer to explain it."
I looked at the OSR www site ( qld ) and it appears that consideration is something that is effectively paid for something else. - like normally money for a house - say Special consideration seems to relate to when the purchaser pays more/less dollars for than the actual value for the property, ie they are getting some other benifit
i will contact OSR and see what they have to say and then my solicter.
I suppose I should have said to the bank officer , that if no - one in the bank could give me more explanatiojn than they could , it is probably be a mistake. - i doubt it , but unless u understand these things at least what triggers it u will not know.
Situation Details are:
i am buying a property with a contract price of 240K (Brisbane), have paid a 20K deposit from a LOC, I have got a new LOC approved for the full purchase price , 240K , The house is faair value at 240k - probably a bit in my favour.
I suppose maybe I should not expect too much , this time the lending officer was able to cleary explain to me the UCC, ( Uniform Cridit Code ) and what it means to loan approval.
[ At a previous interview with the NAB a question about a UCC form they wanted me to sign, was brushed of with a answer "it signifies to the bank the type of lending" and not what it really meant to me. , which is the question i asked ]
I asked the National Australia Bank , lending officer , "What is this for , what triggers it?" Lending officers response was (accurately summerized), " Its a fee paid to OSR - i do not know anymore than that. No- one else in the bank knows any more than that. Get ur solicyer to explain it."
I looked at the OSR www site ( qld ) and it appears that consideration is something that is effectively paid for something else. - like normally money for a house - say Special consideration seems to relate to when the purchaser pays more/less dollars for than the actual value for the property, ie they are getting some other benifit
i will contact OSR and see what they have to say and then my solicter.
I suppose I should have said to the bank officer , that if no - one in the bank could give me more explanatiojn than they could , it is probably be a mistake. - i doubt it , but unless u understand these things at least what triggers it u will not know.
Situation Details are:
i am buying a property with a contract price of 240K (Brisbane), have paid a 20K deposit from a LOC, I have got a new LOC approved for the full purchase price , 240K , The house is faair value at 240k - probably a bit in my favour.
I suppose maybe I should not expect too much , this time the lending officer was able to cleary explain to me the UCC, ( Uniform Cridit Code ) and what it means to loan approval.
[ At a previous interview with the NAB a question about a UCC form they wanted me to sign, was brushed of with a answer "it signifies to the bank the type of lending" and not what it really meant to me. , which is the question i asked ]
