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Mortgage top up

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  • 02-02-2018 10:12pm
    #1
    Bucks13
    Registered Users Posts: 1 ✭


    Would anyone know what you'd expect to pay in legal fees for a mortgage top up?..mortgage being topped up to build an extension


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    #2
    jlm29
    Registered Users Posts: 3,818 ✭✭✭jlm29


    We re in the process of drawing down a mortgage, and our solicitor told us that if we wanted to top it up down the line (for eg. To build an extension), that we wouldn’t need to engage the services of a solicitor, we would just deal with the bank. I’m not sure I believe him (he’s gotten a couple of other things a bit wrong), but that’s what he said!


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    #3
    Lash_Alert
    Registered Users Posts: 425 ✭✭Lash_Alert


    Bucks13 wrote: »
    Would anyone know what you'd expect to pay in legal fees for a mortgage top up?..mortgage being topped up to build an extension

    Why would a solcitior need to be involved? It's a banking product. Not like buying a house as conveyancing is involved there


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    #4
    jlm29
    Registered Users Posts: 3,818 ✭✭✭jlm29


    Lash_Alert wrote: »
    Bucks13 wrote: »
    Would anyone know what you'd expect to pay in legal fees for a mortgage top up?..mortgage being topped up to build an extension

    Why would a solcitior need to be involved? It's a banking product. Not like buying a house as conveyancing is involved there

    We’re drawing down a mortgage for renovations. We already own the house outright, and still had to go through a solicitor


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    #5
    PauloConn
    Registered Users Posts: 910 ✭✭✭PauloConn


    Bucks13 wrote: »
    Would anyone know what you'd expect to pay in legal fees for a mortgage top up?..mortgage being topped up to build an extension

    Its a contractual agreement so I would expect you would need a solicitor in some capacity. It may be that the bank might use their internal solicitor to reduce the overall costs.
    In the past, where there is no title checking and its for a re-mortgage or top-up legals would be a flat fee of about €1k. That was a few years ago, I'm not a solicitor or anyone in the legal game, but these were fees for such work. Not sure where fees have gone to since then.
    But as I said, I would expect a solicitor is required in some shape or form in the signing of legal documents.


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    #6
    gerrowadat
    Registered Users Posts: 3,363 ✭✭✭gerrowadat


    Assuming it's the same bank, all they'll need is for the top-up contract to be witnessed. Costs a tenner.

    But of course, may depend on the bank. Talk to them.


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