Remortgaging/Solicitor same lender - Advice?

S

Slippers

Guest
I am currently taking out a remortgage with my current lender for a relatively small amount (less than 50K). Do I need a solicitor for this conveyancy considering I am still using the same lender who would have all the documentation in the first place.
Has anyone taken out a remortgage with the same lender without having to use a solicitor. All advice appreciated, thank you.
 
It depends on a) if original registration is complete and b) your lender.

Some lenders offer an inhouse service, some pay legal fees and some don't. You will need to check with your lender.
 
I got a re mortgage off NIB with an additional €50K a few years ago, there was no solicitor required, I just had to increase the mortgage protection by that amount.

paddy75 asked a similar question yesterday and the answers would suggest that Bank of Scotland anyway require a solicitor for this. So it probably depends on your lender.
 
Hi Thanks PMI234 lender is PTSB and have got approval from them, Because it is a small amount i am trying to save on legal fees and i was just wondering do they always insist on solicitors or do they budge on this, cheers.
 
PTSB have two top-up products - they call them Further Advance and One Plan. The former requires the services of your solicitor; the latter doesn't.

Ask PTSB to explain the differences between the two in the context of your own requirement
 
I wanted to post the same question but saw this thread. Thanks for your replies.
I am also planning to go for a mortgage top-up with PTSB. I am now paying 5.25% interest without top-up but I got the new quote after top-up mortgage at 5.44%. Is this acceptable?

I was thinking that it will not be more than 5.25%. BTW, PTSB didn't ask me for a solicitor fee as I have a existing mortgage with them.
Please let me know what you think.

Thanks,
kon
 
5.44% is very high, depending on your LTV there are rates from 4.5%, some with free legal if you switch.

The difference in repayments on €100k over 20 years between 5.44% and 4.5% is over €52monthly. Should be worth your while shopping around.
 
Thanks twofor1 for your reply. I asked PTSB to lower the interest rate, they said that will look in to it and will try to bring it down to 5.25%. Waiting for their call.
 
You must log in or register to reply here.
Menu
Log in
Register