Memorandum of Deposit of Title Deed (MOST) is an undertaking by you as the borrower and will state that you have deposited the title documents of the property with the bank at your will, in order to get a loan from the bank. You will need to register this document. So, stamp duty charges will apply and these are often known as title deed charges. These charges will vary from one state to another but is normally between 0.1% and 0.2% of Home Loan amount. Lenders might not inform you about these charges. So, it is best for you to ask about these before you go for the Home Loan. Read this blog post for more information on stamp duty and registration charges - Stamp Duty And Registration Charges At The Time Of Property Purchase.
Want to check your eligibility for a Home Loan? Click here.