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COSTS AND OUTLAYS IN REMORTGAGING YOUR HOUSE

If you are re-mortgaging or switching your mortgage provider then you will need a Solicitor to complete the legal documents. Here, at Roe Solicitors, we guide our clients through the process in a pain free, cost-effective and clear manner.

The main advantage to remortgaging is being able to save money by switching to a cheaper rate and possibly benefit from any cash back offers your new bank is offering. When your fixed, tracker or discounted rate ends, you no longer benefit from a preferential rate so it is important to consider your options at this point to save yourself potentially large sums over the long run.

If you don't switch, you’ll be moved on to your lender’s more costly standard variable rate and your payments are likely to increase.

So what are the total fees, costs and outlays in remortgaging your property:

1. Solicitor's Fees 

We are currently offering reduced legal fees to act on your behalf in the remortgage of your property which will expire at the end of April 2022. Please contact us for a no obligation quote. In addition to our professional fee the following costs and outlays may also be payable when you are remortgaging:

2. Bank's charge to release title deeds

Frequently your bank will change a nominal sum to release the title deeds to us. This amounts typically ranges from €35 - €75.

3. Commissioner for Oaths fees

On the remortgage of a property, various documents will have to be sworn by you such as the Family Home Declaration and the s. 72 Declaration. The approximate cost of these will be €20.00. 

4. Property Registration Authority fees

The Land Registry fee for registering your new mortgage is €175.00. While it is no longer usual for the Land Registry to charge a fee to remove your old mortgage from title, if an electronic discharge is not being lodged by your old bank to remove their mortgage then a fee of €40.00 is payable to the Land Registry.

FURTHER INFORMATION 

  1. What are the steps to switch your mortgage?
  2. Can you buy an auction property with a mortgage?

WHY CHOOSE ROE SOLICITORS?

We have extensive experience in dealing with all matters relating to moving or remortgaging your mortgage. We keep you informed at each stage of the process to ensure the transaction runs as smoothly and efficiently as possible. If you’re looking to switch your mortgage and are looking to speak with an experienced solicitor, then pleaseget in touch today.

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