Mortgage Switch Breakdown of Costs

MoMoneyMoProble

Registered User
Messages
7
Hello,

I plan to do multiple mortgage switches and I have received the following quotation for mortgage switching.

Are all of these applicable even if I do multiple switches consecutively?

Code:
--- Professional Fees ---
Law Agency Fees           - 595 eur
Vat @ 23%                 - 137 eur

--- Lending Institution Fees ---
Taking-up deeds           - 50 eur
Vacate fee                - 50 eur

--- Land Registry Fees ---
Mortgage                  - 175 eur
Vacate                    - 40 eur
Searches                  - 85 eur
Commissioners fees        - 20 eur
Copy Folio Print-out      - 40 eur
Secured Document Exchange - 12 eur

Total                     - 1200 eur
 
If you haven't already, take a look at @mf1 post in this thread https://www.askaboutmoney.com/threa...or-to-do-a-switch-for-me.210431/#post-1590871

This is a post from a practicing solicitor.

With multiple switches, your solicitor is undertaking to do things that they're not actually going to do. Some of the items you've detailed as 3rd party charges. If the charges aren't incurred, then you shouldn't be billed for them. It's a conversation you need to have with your solicitor. The might become completely uncomfortable with what you're trying to achieve when they fully understand it.
 
Thanks for sharing the link.

Unfortunately I am struggling to comprehend all of the jargon that he used as I am completely new to all of this.

It does sound like it's a bit messy from the solicitors side of things.

I was just quoted 1800 for sale, and then 500-600 professional fees for each switch afterwards.

Apparently registering the house initially can take a couple of months, so switching instantly is not possible.
 
Your solicitors fees - which should be under €1,000 per switch - use a different solicitor if they are not.


Code:
Fee to Take up Title Deed   88.00
Registration of mortgage    175.00
Copy Folio                  5.00
Searches                    100.00
Law Agents Fees incl. Vat   125.00
Registered Post             20.00
Swearing fee                30.00
Legal Fee                   750.00
Miscellaneous Fees (Calls)  100.00
VAT @ 23%                   195.50

TOTAL €1,588.50

Is this good or bad for the switches? The "professional fees" are 750 eur, but the rest are adding an extra 800 eur?
 
I was billed (west ireland) the following

Solicitors professional fee 800
Postage, telephone and incidentals 75
Vat 201
= 1076

Outlays
Land registry fee 175
Up-to-date folio and file plan 40
Registration fee on deed to 40
Commissioner for oaths fee 40
Bank are fee 100
Searches 100
= 495

Total 1570

Is that a fair charge for a mortgage switch?
 
I would view €1500 as reasonable enough if the solicitor was capable and efficient. I've paid less in the past (twice); in one case it was fine but the other solicitor was useless and I had to hold their hand for most of it.
 
Anyone got a good solicitor for a switcher around Dublín , east Meath. Getting quotes of north of 1200. Saw people mention you can get quotes of about €1000
 
My solicitor quoted me about €2000 all in and I think this is very high. Can anyone recommend a solicitor for switching to Avant in Dublin?

Edit: found these guys for €1389.
 
Last edited:
Ive recently used http://www.ablesolicitors.ie/ to switch to Avant. I'm not going to give the exact charge, but it was very reasonable compared to some of those quoted above and she was very efficient. She processed my original purchase a few years ago and had my details already on file, so she may have factored this in to my pricing, so I'm not going to declare it here.
 
I got two quotes for a mortgage switch this week.

West of Ireland.

Both the same: 750 + VAT + outlays
 
I read somewhere that with switching there should be no land registry or search fees? can anyone confirm?

can you negotiate outlays, for example if no courier is needed, etc?
 
Land reg and search fees are required each time...we have sometimes switched after only a few months and they were required every time. I'd say negotiate on the fee rather than the outlays as they are a standard fixed cost rather than calculated specifically for your file.
 
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