Mortgage and Solicitors Bill - help!

[Amanduh]

Ok, I'm having a total brain meltdown. I can't understand if I'm just being really thick! I have had so little sleep that I'm convinced I'm hallucinating. Anyway, I really hope someone can set me straight!!

Buying a house. Just had the financial statement through (bill) and basically the solicitor is charging £999 mortgage product fee, butAa we have had this added to the mortgage.

Say the mortgage we are getting, including the product fee, is £130,999.

On the statement there is listed the house price, say 200,000, then the arrangement fee. So says we owe 200,000 plus 999. Then less the mortgage of 130,999. So we owe 70,000.

Surely we should owe 69,000? We've had the fee added to the mortgage - do we need to pay the fee with the mortgage as well then if you see what I mean? Surely we don't owe the 999 to the solicitor at all as its added to the mortgage? My mind is boggled!!

Thanks if anybody managed to get through that!!!

The solicitor will take his fee from the mortgage amount when it arrives so you won't pay him separately. You are borrowing an additional 999 so yes, this will form part of your mortgage loan.

no,, you would owe 70,000 if you had not added the mortgage product fee (200 - 130) but you added the 999 to the mortgage so (200,999 - 130,999)still leaves you owing 70,000. Does that make sense?

I'm confused...

200,000 + 999 = 200,999.

200,999 - 130,999 = 70k.

If you take the mortgage fee out of the equation you'd owe 70k. Adding it to the mortgage means you still owe 70k

I'm confused as to why you're confused...as above, 200999-130999=70000

I'm also confused as to why you're confused!

I didnt put the rest of the post on my original post... sorry! I've spotted in her calculation the solicitor has ALSO put £999 to pay her for the product fee at the end of all that I typed above! So after all those sums on the next page of the bill she's put we owe 70,999! So she's put product fee x 2! It doesnt make any sense.. I knew there was a reason I was so confused and trying to pick holes somewhere...i'm hoping she'll reply tomorrow! Thanks for the replies.. I'm not usually dim, I promise

Ex mortgage adviser.

Call your solicitor tomorrow, it's not that unusual for solicitors to get themselves all mixed up and think that the lender will be deducting the £999 from the mortgage advance, rather than adding it. I'd not be surprised if this is an admin / billing error.

Thanks again - turns out solicitor had an admin error and had deducted the fee from the mortgage!