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What are the charges other than interest that are levied by home loan lenders?

Almost all lenders charge certain administrative or processing fees apart from interest for providing home loan. You must compare all these charges well before signing a home loan contract.  The following are some charges:

Legal fees: payable to the lender or to the legal consultants of the lender

Technical or Valuation charges: payable to the lender or to his technical consultant. 

Pre Closure Charges: This is the biggest charge that most borrowers miss taking into account. A loan can be prepaid either in part or in full at any given point of time. You can also prepay a loan even when it is only partly disbursed. However, most banks  have an upper limit on the number of times a person can prepay his loan in a year as well as on the minimum amount you can prepay each time. Until recently, banks charged a penalty for part or full prepayment. Increased competition has forced most banks to allow repayment without any charges if it is funded from own sources. In case the borrower, is transferring the loan to another lender he will need to pay the Pre Payment charges.

Stamp Duty: Stamp duty is to be paid on the mortgage deed or on the memorandum of deposit of title deeds at the prevailing rates.


Can home loan be converted from fixed rate to floating rate & vice versa?  

When should one opt for a fixed rate home loan?

Can home loans be obtained against two different properties?

Whether banks and financial institutions lend money for purchase of land?

What are the charges other than interest that are levied by home loan lenders?

What is the role of a builder, promoter in group housing complex?

In multi-storied buildings maintenance charges is charged and frequently the word AMC is used.  Please explain the words?

Please clarify whether it is correct on the part of the association to collect more maintenance charges from tenants irrespective of it being paid by the owner or by the tenant himself.

I live in an apartment of 16 units (GF plus 3 floors).  I live on the third floor.  The owner living below me (second floor) has complained of leakages in his bathroom.  I did attempt some repairs (plastering) on my bathroom floors. This proved to be a temporary solution.  Now he is demanding replastering of my bathroom and refixing of tiles.  I insisted in this case the cost towards repair and materials to be shared mutually.  Am I justified in my argument? What does the rule say?

I would like to know on what basis the flat maintenance charges could be raised from the present amount? Our building is over six years old and has 65 flats. We recently completed painting the outside walls for which the corpus fund was used.  Being six years old, the water pumping motors for all the five blocks need replacement and also expenses are there for the OTA space closing, hard topping in the two wheeler parking area. Please advice.