Solicitors, Mortage application fees

igorbiscan

Hi all,
Just wondering how much is the norm for solicitors conveying fees when buying a house?.Also the same question for when applying for a mortgage through a broker.
Thanks in advance.
regards,
igor o' biscan:D

irlrobins

Solicitors fees can vary depending on the type of property you're buying (house/apartment, new build/second hand, etc). They can range from €1000 to €2000 with €1500 being the average I say. Some firms now over an all inclusive package but shop around, get a few quotes and see what people say about each one. A personal recommendation goes a long way. When you do get a quote, make sure they break it down in terms of Professional fees, searches, VAT etc.

As for broker fees, most don't charge anything to you, they get commission from the bank. Although since some banks have stopped using brokers or reduced the commissions, some brokers will charge a fee. Again ask around for quotes/recommendations.

And of course you can go to the bank directly if you wish. Requires filling out the paperwork yourself, but it's not rock science.

igorbiscan

hi irl,got a quote for €2600--€1700 + vat for professional fees--€90 for searches and €500 for property registration.I live in a rural town and he seems to be quoting for 1% for the value of the house.
My broker is charging €400:eek:,while saying his (new) normal fee is €750 and the reason is they have been cut in commission by the banks.
Can anyone explain the property registration fee to me as I new to this game.
Thanks in advance.
Igor

D3PO

igorbiscan wrote: »

hi irl,got a quote for €2600--€1700 + vat for professional fees--€90 for searches and €500 for property registration.I live in a rural town and he seems to be quoting for 1% for the value of the house.
My broker is charging €400:eek:,while saying his (new) normal fee is €750 and the reason is they have been cut in commission by the banks.
Can anyone explain the property registration fee to me as I new to this game.
Thanks in advance.
Igor

Igor tell your broker to go jump. Lots of brokers charge NO fee because they get a % of the drawdown from the banks. Now granted this % has dropped in the last 2 years but you will still find many brokers will do this for free as they banks pay them. I personally used Mason FS back when I bought in 2005. www.masonfs.ie NO fee

Any broker charging a fee raises my guard. Do they really have your best interest at heart ? Will they push a particular lending institution purely on the basis of whats in it for them ? Beware of brokers that charge I say.

Solicitor charges sound steep but would need to know more about the property

irlrobins

igorbiscan wrote: »

Can anyone explain the property registration fee to me as I new to this game.

Some info here: http://www.prai.ie/eng/Frequently_Asked_Questions/Land_Registry_FAQs1.html

testicle

Those solicitor fees are also off the wall. I got a quote for €1000+VAT for the professional fees, and bargained them down to €750+VAT. They used to charge 1% of the value of the house, but since so many of the ***** are out of work, some of them will do it for **** all.

igorbiscan

Yes they seemed quite high to me, now im only in the process of getting quotes but I'm also trying to balance these with solicitors I've been recommended to.

igorbiscan

just got a quote for €1000 plus vat from a recommended solicitor €700 lower than the first straight off.