Settlement Delayed in Melbourne? Penalty Interest + Common Causes скачать в хорошем качестве

Settlement Delayed in Melbourne? Penalty Interest + Common Causes

Penalty interest can be charged when you’re not ready to settle on the agreed settlement date. In this video, I explain what penalty interest is, how it’s calculated, and the most common reasons settlement gets delayed — plus practical tips to help you avoid paying it. In this video you’ll learn: What “penalty interest” means for late settlement How it’s commonly calculated (including the daily rate method and how special conditions can change the rate) When it’s charged (including weekends/public holidays) and how it’s paid at settlement (as an adjustment line item) Common causes of late settlement: bank delays, funds not cleared, document errors (names/postcodes), mortgage discharge delays Why clearance certificates and tight off-the-plan timelines can create last-minute issues How to reduce risk: allow a sensible settlement period (often 45 days+), talk to your lender early, and follow a pre-settlement checklist #melbourneproperty #victoriaproperty #propertysettlement #conveyancing #penaltyinterest Disclaimer: This information is general advice only and does not take into account your personal financial circumstances. It is for educational purposes only, and does not constitute personal financial advice. You should always do your own research and seek professional advice that is tailored to your specific needs and circumstances.