Mortgage Switch Breakdown of Costs

MoMoneyMoProble

New Member
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
 

RedOnion

Frequent Poster
Messages
4,897
If you haven't already, take a look at @mf1 post in this thread https://www.askaboutmoney.com/threads/finding-it-hard-to-get-a-solicitor-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.
 

MoMoneyMoProble

New Member
Messages
7
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.
 

MoMoneyMoProble

New Member
Messages
7
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?
 
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