Can you avoid all mortgage fees?

You can find lenders that don't charge any fees at all. These are usually online lenders that have lower operating costs because they process your application digitally and don't have physical branches. And some lenders waive upfront fees as a promotional offer to get your business. Some lenders offer generous home loan cashbacks if you switch. The cashback can offset some of your switching costs, including the cost of loan fees. What you can't avoid is mortgage registration fees, which are a government fee.

Are there any exit fees on no-fee home loans?

Lenders can charge breaking fees if you exit a fixed rate loan before the fixed rate period ends. They cannot do this with variable rate loans. But lenders can charge a mortgage discharge fee. This covers the legal cost of changing the mortgage registration with the relevant state authority.

Why do package home loans have ongoing fees?

A package home loan lets you combine several financial products. This usually includes a home loan, a bank account (usually an offset account) and maybe a credit card. The lender typically waives most fees associated with the products in the package. In exchange you pay a single package fee every year.

What other fees do lenders charge?

Even if a home loan doesn't have monthly or annual fees, the lender might still charge upfront fees such as establishment/application fees, valuation fees, legal fees and settlement fees.