mortage moving

R

ramlal

Registered User
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Hi All

I hope somebody can help me out here. I am in process of moving my mortgage from one bank to another. When I took my mortgage from first bank there was a clause that If I move my mortgage within 5 years then I would have to pay back solicitor fees.

Is there a way to avoid that ? Or will I have to pay it back to my first bank.

Thanks a million
 
If it's in your contract then you have to pay it. Why do you think there's a way around it?
 
You will be obliged to repay this.

However, is there a deal in place with your new lender covering or contributing towards legal costs?

J
 
Jonathan.OB said:
However, is there a deal in place with your new lender covering or contributing towards legal costs?
Click to expand...
If there were such a deal, wouldn't it simply cover the legal costs of the new move?

I have never come across any sort of offer which would provide anything to cover any clawback of costs from a previous deal.
 
Most banks are very keen for the business. For example First Active offer up to 1200 euro towards legal fees. AIB, Halifax and Bank of Scotland offer 1000 euro. My solicitor charged me € 650 plus VAT plus outlay to re-mortgage and it came to just under 1000 euro.
 
Who is the original bank?

I have heard of some Lenders waiving the 5 year clawback under certain circumstances.....
 
original bank was halifax. My promotional time will be over soon. If I move I will save €40 per month.

So 40*12*3 =1440 =1000 ( 440 saving)
 
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