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Top Up Mortgage, through solicitor or not?

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  • 13-10-2016 12:17pm
    #1
    Steviec26
    Registered Users Posts: 2 ✭


    Hi, just wondering if anyone has advice on legal fees for a top up mortgage. We are looking to put up an extension and have looked for €50k, which has been approved. I phoned around to get quotes from solicitors regarding sorting out the legalities and the figures I have received go from €1,200-1600. It kills me to fork out this much on a top up of €50k. So my question is should I get a solicitor involved, or could I just sign the documents etc myself. I have had a number of mortgages over the years and would be familiar with the process.
    Any advice greatly appreciated
    Cheers


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    #2
    ohnonotgmail
    Registered Users Posts: 40,442 ✭✭✭✭ohnonotgmail


    the real question is would your bank be willing to let you act without a solicitor. i would expect not.


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    #3
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Accommodation & Property, as the folks there will have the best knowledge.


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    #4
    Steviec26
    Registered Users Posts: 2 ✭Steviec26


    ohnonotgmail wrote: »
    the real question is would your bank be willing to let you act without a solicitor. i would expect not.[/quote
    The small print on the mortgage package said they would strongly advise but there was an option not to avail of one, but would need to have bank witness signatures


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    #5
    ohnonotgmail
    Registered Users Posts: 40,442 ✭✭✭✭ohnonotgmail


    Steviec26 wrote: »
    ohnonotgmail wrote: »
    the real question is would your bank be willing to let you act without a solicitor. i would expect not.[/quote
    The small print on the mortgage package said they would strongly advise but there was an option not to avail of one, but would need to have bank witness signatures


    i would want to be absolutely certain of what i was doing before i proceeded without a solicitor. especially in regards to the registering of the mortgage against the property.


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    #6
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    If you are positive that this top up is on the same terms as your existing mortgage, and that it doesnt change any of your earlier conditions (get the bank to confirm these points in writing) and if the lender is a major mainstream financial player, then why wouldn't you go for it? :)


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