Advertisement
If you have a new account but are having problems posting or verifying your account, please email Niamh on [email protected] for help. Thanks :)
New AMA with a US police officer (he's back!). You can ask your questions here

What is approx cost of Solicitor to switch mortgage

  • 05-10-2021 1:06pm
    #1
    Registered Users Posts: 36 bt952000


    Hi

    I am looking to switch mortgage using the same solicitor as when originally purchased.

    What would be an average cost for this?

    On top of the cost quoted, these additional costs would apply..

    Search Fees, Commissioners Fees ,Property Reg Authority Fee, Additional bank charges, Plan (Folio / File), Title documentation totalling around €650 on top of the Solicitor conveyancing fees.

    Does all seem about right?

    Thanks



Answers

  • Registered Users Posts: 72 ✭✭ CalisGirl


    I don't have experience of switching mortgages but when I got a solicitor for buying a property, I called a number of solicitors for quotes. They asked me various questions about the property before giving the quote and none seemed surprised to be asked about costs. From what I've seen on these forums, it's standard practise to get a quote from a solicitor before securing their service. It should be the same for switching mortgage. Try ringing around to the solicitors nearby for their expected rates to switch mortgages.



  • Registered Users Posts: 92 ✭✭ Calculator123


    Switched mortgage a few months ago. Solicitor was €2k. Was more than when I originally bought the house a few years ago. However it was really efficient, so didn't mind and got most back from bank anyway. A friend bought new recently. Think it was €2,300 which seems steep.



  • Registered Users Posts: 2,546 ✭✭✭ C14N


    If you're using the same solicitor as before, just ask them what they would charge for it. They won't mind telling you. You could also try email a few others to see if you can get a better price elsewhere.

    I don't know what part of the country your friend is in but in my experience, €2300 for buying is a good deal. I've gotten quotes from a few different ones and none were that low. I've had friends buying who have told me they got charged up to €5000 for it.



  • Registered Users Posts: 419 ✭✭ Q&A


    I presume the €5k includes stamp duty. Regardless of the solicitor you go with this has to be paid on purchase of a house. It's not applicable for switching and It's also house specific so any comparison should exclude this.

    €2k would be expensive. €1.5 would be what I'd expect. Don't worry about where the solicitor is based. All going well you'll only have to meet them once. All things being equal it's probably better value getting a cheaper solicitor than a local solicitor.



  • Registered Users Posts: 36 bt952000


    Thanks All

    I am going with this now . Will post here the final cost as it may be useful to somebody else.


    Cheers



  • Advertisement
  • Registered Users Posts: 2,546 ✭✭✭ C14N


    The €5000 figure does not include stamp duty. It includes other standard fees, but not stamp duty, which would drive it much higher again. I was quoted myself for one that was around €4500, not including stamp duty, but decided that was much too high. I sought out 4 or 5 quotes and ended up going with the cheapest I got, which was ~€2700 (again, excluding stamp duty), which was not anything close to local.



  • Registered Users Posts: 419 ✭✭ Q&A


    It sounds very high but in fairness your did the right things in shopping around.

    The following might be useful to others

    https://www.askaboutmoney.com/threads/cheapest-solicitor-for-switching-mortgages.220061/



  • Registered Users Posts: 1,416 ✭✭✭ Diemos


    Ours came in at 1800 (i Think) but the switching bonus and cash back off the old mortgage more than paid for that.



Advertisement