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How much does a legal fee loan cost?

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  • Monthly or annual fees (also called account keeping fees)
  • Default, dishonour or missed payment fees
  • Hidden fees in the terms and conditions of a loan 
  • An $80 monthly fee
  • A risk assurance charge, which is 5% on every dollar drawn down on the loan
  • Some loans also require a security fee, if caveats are required for the security of the loan, these fees are $980 for caveats and $1300 for mortgages

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