Mortgage Top-up Charge

Hello

I have been approved for a top-up on my mortgage for an amount of 24k. I have just received a letter from my financial institution looking for me to pay an amount of €262 to cover the cost of them stamping up the mortgage, before I can draw down the additional funds.

Is this a standard charge assocaiated with a mortgage top-up. They had not mentioned this at the outset, nor in the letter of offer. I just want to get feedback on this charge before I contact them on it.

Thanks in advance

Yes, it is. I presume your total mortgage is now €262,000? The revenue charge Stamp Duty of 0.1% on mortgages over €254,000 (to a max. of €635) so this will have to be paid prior to drawing down.

Sarah

www.rea.ie

That's correct Sarah.

Thanks for your reply