Mortgage Switch Legal Question

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leex

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If switching mortgage, is one better off to use the solicitor that was involved in original mortgage a number of years ago? I am wondering if original solicitor would have less work in switching and thus lower fees assuming all other things being equal?

Would possibly suit me better to use a different solicitor due to office location.
 
You can really use any solicitor, assuming that the title deeds have been returned to your lending institution then any solicitor will have to take them up. If your original solicitor still holds them they may be able to re-mortgage slightly quicker. It probably makes most sense to choose the most convenient as fees should be broadly similar.
 
Leex if you use the initial solicitor then the work should be minimal - price it.

You can also use one of the banks panel of solicitor - a title insurer.

They do it all in for approx €1k.

However if you have existing life cover in place and don't plan increasing the loan amout then the title insurer can't give an undertaking to reassign the life, i.e if you have enough mortgage protection to cover term & amount of new mortgage & existing cover is assigned to existing lender then don't use banks solicitor. There are other things that the can't do but I'm exactly sure what they are.

Shop around is the bottom line.
 
a good few banks will pay for the legal fees if you want to switch.
As Apollo says, shop around.
 
Hi
We were thinking of switching and I got a detailed quote from original solicitor, they still have to go through all the land registry/title deeds,Charge in favour of existing lender/charge in favour of new lender etc etc which costs, plus their fee on top.
It would be more favourable in our case to use original solicitor.
Get a quote from a few and see how they compare.
Are they likely to give you a good price for being loyal?
Best of luck
 
Thanks for all replies. Lender will cover the full legal process through First American or they will pay 1000euro towards my own solicitor. I would be inclined to use the latter.
 
leex said:
Thanks for all replies. Lender will cover the full legal process through First American or they will pay 1000euro towards my own solicitor. I would be inclined to use the latter.
Click to expand...
If you don't mind me asking, is this with NIB?
We were advised they would fund upto €600 of legal fees, €1000 would cover more than the total though.
Would recommend going with own solicitor too, if FA are who NIB use, the NIB person told us they were VERY slow.
Best of luck
 
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