Hello,
Just looking for opinion on this, and maybe a path forward.
In February of this year I went sale agreed on a holiday home. The mortgage I need is 90,000. I have gone with KBC bank for the mortgage. I have been dealing with a mortgage consultant from KBC from the outset. We have had many conversations and have exchanges lots of correspondence over the last three months. Finally we got approval about two weeks ago. We went into our solicitor last week to sign the contracts etc, and in the letter the bank sent to the solicitor, there is a condition that we pay their solicitor 1,250 euro plus VAT. This was the first we had heard of this through out the whole process. I called my guy in the bank to dispute this, as it was the first mention of this outlay throughout the whole process. He accepted that he should probably have mentioned it verbally as it is such a big outlay, however, it is stated in the original application form we filled out. I went back an checked this and it is indeed there. But only there, and in no correspondence since. It says for buy to let properties over 75,000 up to 1,500,000 the borrower must pay the solicitors fee of up to 1250 but I had missed it. Accept this is my fault, but for an amount as significant as this, I feel it should have been specifically pointed out. He also couldn't really tell me what this solicitor was going to do, over and above what my own solicitor is doing.
I am so annoyed that this was not pointed out verbally or in a more specific way in writing, either at the time of application, or at some stage during the process. The consultant has since tried to get the fee waived for me, but he has come back and said that they can't do it. I'm beginning to think that they do it this way on purpose, as there is little chance of the borrower pulling out at this late stage and going through the whole PAINFUL mortgage application process again.
So what to do now? Take it on the chin, and learn from it? Decline the mortgage offer? Pay up and appeal after the mortgage has gone through? The vendor is getting very pushy with me now to get a move on.
Geri
Just looking for opinion on this, and maybe a path forward.
In February of this year I went sale agreed on a holiday home. The mortgage I need is 90,000. I have gone with KBC bank for the mortgage. I have been dealing with a mortgage consultant from KBC from the outset. We have had many conversations and have exchanges lots of correspondence over the last three months. Finally we got approval about two weeks ago. We went into our solicitor last week to sign the contracts etc, and in the letter the bank sent to the solicitor, there is a condition that we pay their solicitor 1,250 euro plus VAT. This was the first we had heard of this through out the whole process. I called my guy in the bank to dispute this, as it was the first mention of this outlay throughout the whole process. He accepted that he should probably have mentioned it verbally as it is such a big outlay, however, it is stated in the original application form we filled out. I went back an checked this and it is indeed there. But only there, and in no correspondence since. It says for buy to let properties over 75,000 up to 1,500,000 the borrower must pay the solicitors fee of up to 1250 but I had missed it. Accept this is my fault, but for an amount as significant as this, I feel it should have been specifically pointed out. He also couldn't really tell me what this solicitor was going to do, over and above what my own solicitor is doing.
I am so annoyed that this was not pointed out verbally or in a more specific way in writing, either at the time of application, or at some stage during the process. The consultant has since tried to get the fee waived for me, but he has come back and said that they can't do it. I'm beginning to think that they do it this way on purpose, as there is little chance of the borrower pulling out at this late stage and going through the whole PAINFUL mortgage application process again.
So what to do now? Take it on the chin, and learn from it? Decline the mortgage offer? Pay up and appeal after the mortgage has gone through? The vendor is getting very pushy with me now to get a move on.
Geri
