Processing charge for mortgage by IIB Homeloans

[Eeek!!!!]

Has anyone heard of a charge of €127 being requested by the lenders associated with Galway City Council for processing a mortgage application for affordable housing (specifically by IIB Homeloans in this case)?
Thanks!

 

[Lazylady]

Sounds like a charge for the valuation of the property to me. I'd check with IIB.

 

[Hel_n]

Sounds more like a specific charge for affordable housing mortgages. Did they advise you that this only applies to Galway City Council or is it all local authorities?

 

[aonfocaleile]

I agree that it sounds like a valuation charge, which is a standard charge of €127 for all high street lenders. IIB should be able to confirm this.

 

[irishpancake]

Has anyone heard of a charge of €127 being requested by the lenders associated with Galway City Council for processing a mortgage application for affordable housing (specifically by IIB Homeloans in this case)?
Thanks!

This is a valuation fee:

See page 2 (checklist) of their application form here, which is also used by approved AH applicants. [req Ms Word or compatible WP]

More info about their Advantage Mortgage product here. (for AH applicants).

 

[de Gunner]

when i bought my house i paid that to iib but if i remember correctly i was refunded by iib when i signed and drew down the loan........