• New laws introduced on 30 November 2016 allow for the forced sale of units in an apartment

    The strata management industry is in for a significant shake up with the “once-in-a-generation” changes to strata laws being introduced on November 30, 2016. The NSW Government has amended the laws regarding the management of apartment buildings allowing 75% of owners in apartment blocks will be able to sell...

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  • ATO targeting property investors

    A recent taxpayer alert [Trusts mischaracterising property development receipts as capital gains] concerning property development and the use of trusts is significant for property developers. Taxpayer Alert 2014/1, describes an arrangement whereby a trust undertakes property development activities as part of its...

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  • Chinese regulators may turn off the money flow that is funding the Australian real estate bubble

    A Chinese Government crackdown on the recently exposed activities of the Bank of China's money laundering efforts in Australia will have repercussions on the sustainability of high property values in Sydney and Melbourne. China’s state broadcaster CCTV has launched an attack on one of the country’s most...

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  • Changing A SMSF Trustee to a Corporate Trustee

    Benefits of a Corporate Trustee 1. Changing Members If an SMSF is set up with a corporate trustee structure you can add a member (e.g. a spouse or child) or remove a member (e.g. if a member dies or can no longer act as trustee) with much less hassle than an individual trustee structure. If there is a ch...

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  • Our Legal Fees & Services

    At GMH Legal we believe that client relationships matter more than time sheets which is why we offer a range of alternative fee arrangements to best suit your needs. Our focus is on client service and establishing mutually rewarding relationships with our clients. We think that billing by the hour does not ...

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  • Homebuyer’s Guide to Conveyancing

    Buying your first home can be a confusing process, particularly when it comes to conveyancing. Taking your first step on to the property ladder can be an exciting time. But for those who have never been involved in a property purchase, the conveyancing process can often seem hard to understand. What i...

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Contact Us

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13A Montgomery Street

Ground Floor
54 Martin Place

Email: solicitors@gmhlegal.com
Phone: (02) 9587 0458
Facsimile: (02) 9587 2936


Almost every person who has ever owned a property has only been able to finance this purchase through the assumption of a debt to a bank. The way that a bank secures a debt for something of this size is almost always through a mortgage because a mortgage is the best method of securing a loan in legal terms which is available to a bank.

The law of mortgages varies from state to state in Australia although has been harmonized somewhat during the most recent period because of the introduction of the national consumer credit code, otherwise known as the National Consumer Credit Protection Act 2009 (Cth). The introduction of this legislation supersedes the old credit codes which were originally based on Queensland consumer credit legislation but were implemented in New South Wales, Victoria and some of the other states and territories of Australia.

However, this is not the original source of the law of mortgages. In New South Wales, for example, the Real Property Act 1900 (NSW) is the piece of law which establishes the notion of a mortgage in the law in New South Wales and defines the rights which a mortgage interest in a property creates and makes it so suitable for the purpose of securing a loan.

For instance under s.57(2)(b) a bank can issue a notice which then gives rise to the ability to the mortgagor (the legal person holding the mortgage) to sell the property without the consent of the owner of the property and without any reference to the need to get a good price for the sale. This is one of the elements of the law of mortgages that few people realize. If you are unable to pay a mortgage and the bank issues a notice to sell it, there is no obligation on the bank to attempt to get a good price for the property and they will likely sell to the first available buyer. If you have any questions about the way that the law of mortgages operate in Australia, please do not hesitate to contact us.

Refinancing Your Property Loan

There are many reasons why people choose to refinance their mortgage. These may include reaching the end of their loan period, wanting more flexibility or a lower interest rate, wanting to renovate, and wanting to access the equity in their home. While refinancing your loan can be an excellent option, any home loan transaction comes with expenses such as stamp duty, lenders fees, and legal fees. But with the right loan and the right people helping you, you could save a lot of money.

If you like the idea of saving money (and who doesn’t!) the team of conveyancing solicitors at GMH Legal may be able to help you. Depending on your circumstances and your refinancing options you could save money not just on lenders fees and legal fees. A visit with our conveyancing solicitors will provide you with your best options for reducing or eliminating your refinancing fees. With years of experience behind them, the legal team at know where to look to find you the lowest fees possible.

How to refinance your mortgage

The team at GMH Legal will:

  • Speak with you and your refinancing lender to ensure all loan documentation is properly prepared and signed;
  • Inform you of any search your lender may require of you;
  • Help you meet any requirements that your lender has set for you;
  • Help you to complete and lodge mortgage duty exemption forms;
  • Communicate with your lender to make sure everything is ready for settlement.

Call the experienced team at GMH Legal to assist you in your matter. A free consultation with GMH Legal is an opportunity to gain deep insights into your legal situation and all of your options.

Why Choose GMH Legal?

  • Over 60 years of combined legal experience
  • Outstanding track record with a winning approach
  • First appointment is always free
  • Meet our team now.

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