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Security release fee aib

  • 14-08-2013 2:31pm
    #1
    2012paddy2012
    Registered Users, Registered Users 2 Posts: 2,880 ✭✭✭


    I want to pay off my mortgage. There is no break fee as its standard annuity mortgage .. This confirmed by aib.

    They want 60 euro as a security release fee.

    I think this is a joke. They have made plenty as interest from me. I never heard of this before in relation to other loans :bank loans
    : credit union loans

    Has anyone ever argued successfully against this fee?

    I haven't checked the contract will do in next few days ... Appreciate any advice !

    Paddy


Comments

  • #2
    shopaholic01
    Closed Accounts Posts: 4,916 ✭✭✭shopaholic01


    It probably is covered in your contract. Probably an administration fee to release the deeds of your property etc.


  • #3
    phormium
    Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    Fairly standard vacate/release security fee, would imagine all banks charge something similar, mainly only applies to mortgages not ordinary loans.


  • #4
    2012paddy2012
    Registered Users, Registered Users 2 Posts: 2,880 ✭✭✭2012paddy2012


    phormium wrote: »
    Fairly standard vacate/release security fee, would imagine all banks charge something similar, mainly only applies to mortgages not ordinary loans.

    It's in the contract Thks all


  • #5
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    I cleared my mortgae in 2007 with NIB/Danske. At the time they quoted a release fee of €80. They also advised that them continuing to hold the mortgage on the property would make it easier and cheaper to release equity if needed, and I wouldnt have to pay someone to store the title deeds. I left the mortgage on the property..


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