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Solicitors Cost Mayo

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  • 23-10-2015 10:34pm
    #1
    relax carry on
    Registered Users Posts: 4,072 ✭✭✭


    Lads

    Does the below look ok for an estimate on the purchase of a house in Mayo? Getting mortgage through Ulster bank so they are covering €1500 of the fees. The

    Professional fee – purchase of property €1,200.00

    Vat at 23% €276.00

    Professional fee – Mortgage with Ulster Bank €350.00

    Vat at 23% €80.50

    Miscellaneous outlays €100.00

    Vat at 23% €23.00

    Stamp duty – charged at a rate of 1% on the value
    Of the property € To be ascertained

    Registration fees – will depend on the value of the
    Property. Will vary anywhere from €440.00 up to
    €915.00 depending on the value of the property € To be ascertained

    Searches €45.00

    Registered post €20.00


Comments

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    #2
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    It looks about standard to me except for the "€350 Professional Fee - Ulster Bank Mortgage". What is that for?


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    #3
    relax carry on
    Registered Users Posts: 4,072 ✭✭✭relax carry on


    April 73 wrote: »
    It looks about standard to me except for the "€350 Professional Fee - Ulster Bank Mortgage". What is that for?

    Thanks, not sure what that is. I'll have to ask them as I've never seen a specific charge for dealing with a specific bank before.


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    #4
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    No, I haven't either. It's a steep enough fee too. Definitely question it.


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    #5
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,797 Mod ✭✭✭✭L1011


    The solicitors fee is quite high and the mortgage fee is invented. Get other options and do not tell them you're getting and cash back deal for it


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    #6
    relax carry on
    Registered Users Posts: 4,072 ✭✭✭relax carry on


    L1011 wrote: »
    The solicitors fee is quite high and the mortgage fee is invented. Get other options and do not tell them you're getting and cash back deal for it

    Thanks. Didn't mention the deal. Just stated that we were already approved with Ulster Bank. Will be looking at other solicitors. It's just this practice was recommended.


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    #7
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,797 Mod ✭✭✭✭L1011


    Don't even mention the bank initially, then. These kind of deals just cause prices to rise to the subsidy. Same way HRI qualifying works leapt in price, house prices costed in the former first time buyers grant, etc, etc


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    #8
    Addle
    Registered Users Posts: 4,812 ✭✭✭Addle


    Shop around. I found the prices being quoted for the same service locally varied considerably.


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    #9
    relax carry on
    Registered Users Posts: 4,072 ✭✭✭relax carry on


    L1011 wrote: »
    Don't even mention the bank initially, then. These kind of deals just cause prices to rise to the subsidy. Same way HRI qualifying works leapt in price, house prices costed in the former first time buyers grant, etc, etc

    Thought it might be something like the HRI alright. Will shop around.


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