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Re: KBC Mortgage - Arrangement Fee

  • 13-06-2017 01:16PM
    #1
    sinbadthesailor
    Registered Users, Registered Users 2 Posts: 122 ✭✭


    Re: Home Mortgage Loan application form- additional fees

    "an arrangement fee equal to 0.5% of the mortgage loan amount may be payable by the applicant when the loan cheque is ready for issue."


    I sat down with a representative of KBC and asked a great deal of questions in relation to specific charges that would apply and this was not mentioned once. It is quite a significant fee: €1200 if €240,000 is borrowed for example.

    Has anyone with a KBC mortgage here actually been charged this fee? Does anyone know in what circumstances such a payment may arise? It is worryingly vague and a verbal assurance that it will not apply will not be of much comfort.

    Would be grateful if anyone can shed some light on this or whether anyone is aware of any other banks in Ireland charging such a fee?

    Thanks.


Comments

  • #2
    legra
    Registered Users, Registered Users 2 Posts: 7 ✭legra


    sinbadthesailor wrote: »
    Re: Home Mortgage Loan application form- additional fees

    "an arrangement fee equal to 0.5% of the mortgage loan amount may be payable by the applicant when the loan cheque is ready for issue."


    I sat down with a representative of KBC and asked a great deal of questions in relation to specific charges that would apply and this was not mentioned once. It is quite a significant fee: €1200 if €240,000 is borrowed for example.

    Has anyone with a KBC mortgage here actually been charged this fee? Does anyone know in what circumstances such a payment may arise? It is worryingly vague and a verbal assurance that it will not apply will not be of much comfort.

    Would be grateful if anyone can shed some light on this or whether anyone is aware of any other banks in Ireland charging such a fee?

    Thanks.

    According to our mortgage broker this fee is only for commercial mortgages and wouldn't affect us. We are currently still in the mortgage process though.


  • #3
    D0NNELLY
    Closed Accounts Posts: 1,381 ✭✭✭D0NNELLY


    legra wrote: »
    We are currently still in the mortgage process though.

    Same here, case going to completions this week. Hasn't been mentioned to us as of yet.


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