Home loan queries

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ontherocks

HDFC has a current rate of 7.70 and there is an option to convert that 6.70 by paying a conversion fee of Rs.5900. HDFC says that to give customer at 6.70 they have to buy it from government (I guess they meant RBI). So they pass on the buying amount to the customer and it is charged as conversion fees. How are other banks able to give home loans at lower than 7.70 without this buying/conversion thing?

If one transfers home loan from bank X to bank Y, I guess bank Y will charge some fees, will bank X too charge fees? Will bank Y again carry out property verification, etc and charge it to customer?

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