switching lender

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techman

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I am in the process of changing my mortgage.

I have read the key posts and FAQ on switching lenders and the fees involved.

Thinking of changing over to Ulster Bank or NIB. UB will pay the legal fees.

Has anyone changed lenders recently? What did it cost in legal fees?

I still might go with NIB.

Any advice appreciated.

The link in the Mortgages FAQ for "Switching Mortgage Providers" is broken.
 
I am changing over from UB to NIB

The professional fee inclusive of vat and outlay will amount to €900.00.

NIB are contributing €600.00 towards the fees !!


Note there is also a valuation charge of approx 120 euros !!

Hope this helps !



techman said:
I am in the process of changing my mortgage.

I have read the key posts and FAQ on switching lenders and the fees involved.

Thinking of changing over to Ulster Bank or NIB. UB will pay the legal fees.

Has anyone changed lenders recently? What did it cost in legal fees?

I still might go with NIB.

Any advice appreciated.

The link in the Mortgages FAQ for "Switching Mortgage Providers" is broken.
Click to expand...
 
Assuming your mortgage is over €200K, Ulster will pay for all legals. In fact, no legals involved, as they basically insure the risk of a title problem.
 
Actually Munsterdude, that's not completely accurate. Some of the "legals" that a bank usually requires are avoided by the scheme UB uses, but the borrower still gets full legal advice
 
Just finished switching from AIB to UB. UB paid all legal fees and valuation fees...mind you it took probably 4 months to get completed due to UB un-professionalisim...
 
"Just finished switching from AIB to UB. UB paid all legal fees and valuation fees...mind you it took probably 4 months to get completed due to UB un-professionalisim."

Hi - we are in the process of switching at the moment from PTSB to UB. What problems did you have with them??
 
UB dont tend to be exactly "over efficient" in my experience. Suppose its a trade off in some ways. You get a good value mortgage, one of the better prices on the market, but they dont exactly impress you with efficient zeal! You really need a bit of patience in dealing with them. Saying that, once the mortgage is up an running, not much can really go that wrong?
Munsterdude
 
I recently moved from Bank of Scotland's to NIB's tracker (ECB + 0.79%; LTV < 60%). The process was very quickly and smoothly handled and not only did they contribute €600 to the legal fees, they put me in touch with a cheaper solicitor than the one I'd been about to go to. They also accepted the valuation I'd had done two years previously for Bank of Scotland, saving me another €100-€125, and drew my attention to the small saving to be made by making fortnightly repayments instead of monthly.

I also have a 'Freebank' c/a with them, and on a couple of occasions the branch has rung me to warn me about an impending debit that would have put me overdrawn (costing me a bit of interest and a quarterly fee of €30-odd).

Good service! :)
 
Hi,

I have two mortgages, one on my main residence and the other on an investment property. Both small - main residence -48,000euro and investment = 65,000 euro. Would it be worth my while switching these from PTSB to either Bank of Scotland or UB?
Many thanks.
 
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