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Mortgage - why are we being asked to pay this charge?

(23 Posts)
ks Sat 30-Jul-05 15:28:14

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Prufrock Sat 30-Jul-05 16:10:41

Don't think it is standard.
Our bill from solicitor for purchase had the following items on it:
Stamp duty - alarmingly large amount
Stamp duty admin fee - £35.25
HM Land Registry fee - £420
Solicitors costs re purchase and mortgage - £1,750
Bank TT fees - £29.38
Search fees - £213.62.

We also paid £399 to the mortgage company as an arrangement fee. Could this be the mortgage companies estimation of your solicitors costs?

(and I thought you were on holiday?)

Twiglett Sat 30-Jul-05 16:14:35

sounds like a mortgage indemnity guarantee which is basically a benefit for the bank in case you default

they used to be incurred if you borrowed more than 85% (I think it could have been 90%) but I thought that most banks no longer made these part

you need to re-read your mortgage offer

Caligula Sat 30-Jul-05 16:15:01

Never heard of it.

Milge Sat 30-Jul-05 16:15:48

its not a high loan to value fee, is it? If your mortgage amount is more than 75% of the property value, it could be. It could also be an approximation of your own legal costs incurred in the move - mortgages these days have to include all possible costs. Does it say if this is to be paid to the solicitor or added onto the loan?

ks Sat 30-Jul-05 16:15:50

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Fran1 Sat 30-Jul-05 16:15:53

Are you having a second charge on the propery?

or is it a bridging loan?

ks Sat 30-Jul-05 16:16:45

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ks Sat 30-Jul-05 16:17:40

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Fio2 Sat 30-Jul-05 16:21:15

we had about 2.5k-3k added on ours which ended up being redundancy cover from the mortgage but we had to pay up front, pretty shocking and in all accounts quite useless


have you found a houde than? email; me you tart

Fio2 Sat 30-Jul-05 16:21:53

a house

ks Sat 30-Jul-05 16:24:19

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Fio2 Sat 30-Jul-05 16:36:47

LOL

Prufrock Sat 30-Jul-05 16:42:52

You could sign all the necessary papers when dh gets back on Tueday and leave them with your solicitor for them to use when everything is ready?

ks Sat 30-Jul-05 16:46:01

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Fio2 Sat 30-Jul-05 16:48:33

its just all stressful, thats all my dear.....

CountessDracula Sat 30-Jul-05 17:48:52

KS----- can this mean you have

<gasp>

FINALLY BOUGHT A HOUSE?

ks Sat 30-Jul-05 18:27:20

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WideWebWitch Sat 30-Jul-05 18:35:24

Good lord, you've BOUGHT A HOUSE? Well, nearly! Congratulations in advance

CountessDracula Sat 30-Jul-05 19:01:36

omg omg omg!!

You finally found somewhere - do you hate it?

email me link am dying to see what finally tempted you!

ks Sat 30-Jul-05 19:41:21

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Janh Sat 30-Jul-05 19:55:45

[faint]

Janh Sat 30-Jul-05 19:57:55

<<thud>> too!!!

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