Switching advice needed re. Solicitors fees

pclive

Registered User
Messages
21
I switched to BofI in December and got their cash back

Now I want to move to KBC then finally to Ulster to end on 2.3% fixed

My solicitor fees in dec worked out at about €1500

The same solicitor can’t do my switches but put me in touch with one who could

Proposed Charges are as follows:
950 plus vat and €300 outlay per transaction
He will drop it to 825 plus vat and €300 outlay per transaction as I’m doing two switches

When I calculate the amount I’m left with it works out at about €1600

Should I go back to him and seek a better deal?

Or what advice can you give ?
 

Sean Og

Frequent Poster
Messages
163
I am not sure about the €300 for outlays. Certainly for the first switch your solicitor will not be registering the mortgage and doesn't have to do any searches etc as it is a switch , you are not buying a new property. AFAIK the only fee should really be professional fees. I know we have gone over all this before but really all the solicitor is doing is calling one bank to get a redemption figure and draw down the new mortgage from the new bank.
 

RedOnion

Frequent Poster
Messages
3,296
Here's a breakdown of the estimated outlays for a switch (land registry) where mortgage is registered:

Fee for taking up title deeds from existing lender and discharge of existing mortgage 60.00

Land Registry fee payable on Mortgage Deed 175.00

Land Registry fee payable for copy folio and map after registration 40.00

Search fees (approx.) 100.00

Commissioners fees, for swearing documents 20.00

Total outlays 395.00

really all the solicitor is doing is calling one bank to get a redemption figure and draw down the new mortgage from the new bank.
It is a little bit more than that...
 

pclive

Registered User
Messages
21
Can anyone advise of a solicitor in Dublin who has gone through the process and will be familiar with multi switching?
Please remove post if this isn’t allowed
 

pclive

Registered User
Messages
21
So in my example above with two switches the solicitor should only be charging me two professional fees and the €300 outlay once?
 

RedOnion

Frequent Poster
Messages
3,296
Well, your solicitor should register the charge, as per his undertaking to the bank. If he doesn't, then he shouldn't charge you for outlays not incurred.
 

Alkers86

Registered User
Messages
44
Got a quote from my solicitor for switching their, the charges to the solicitor were almost identical to the above but then they wanted €750 of a professional fee and €50 of miscellaneous fees to cover letters and phonecalls with VAT on top - seems steep.

Also interested in hearing of a solicitor who is either cheaper or accustomed to multi-switches.
 

pclive

Registered User
Messages
21
Got a quote from my solicitor for switching their, the charges to the solicitor were almost identical to the above but then they wanted €750 of a professional fee and €50 of miscellaneous fees to cover letters and phonecalls with VAT on top - seems steep.

Also interested in hearing of a solicitor who is either cheaper or accustomed to multi-switches.
Was the solicitor charging €300 also?
 

pclive

Registered User
Messages
21
Got a quote from my solicitor for switching their, the charges to the solicitor were almost identical to the above but then they wanted €750 of a professional fee and €50 of miscellaneous fees to cover letters and phonecalls with VAT on top - seems steep.

Also interested in hearing of a solicitor who is either cheaper or accustomed to multi-switches.
Dublin based? can you message me the details of this solicitor please?
 

TheJackal

Frequent Poster
Messages
210
Cork, based, switched in March:

Professional fee 695 + VAT 23% = 854

Misc Outlays: 80+18.40=98

Outlays: (Bank ATR fee 73) + (Searches on title 67) = 140

Land Registry fees = 175

Total: 1,255
 

_ripped_off

Registered User
Messages
44
Can I ask does the below seem reasonable for a switch. I was expecting it to be a bit cheaper considering its the same solicitor we used for the original mortgage 2 years ago. Its based in Dublin if that makes any difference.



Outlays


Land Registry Mortgage Registration fee
Land Registry Vacate of Current Mortgage
Fee for copy folio and filed plan
Law Search fees to Dublin Law Searchers Limited
Commissioner fees
Same day electronic Transfer fees
Fee to take up title document from lending Institution



Professional Fee
Office Outlays

Vat at 23%

Total






175.00

40.00

40.00
80.00

44.00
25.00
T.B.C.




750.00
150.00

207.00

1,511.00
 
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