WARNING: If you do not meet the repayments on your Mortgage, you are at risk of losing your home.
A fee charged when you request your mortgage provider to supply additional copies of your mortgage contract or statement of interest.
An Accountable Trust Receipt (ATR) fee refers to a charge associated with having your solicitor keep the deeds to the property on behalf of your mortgage provider.
A fee charged at the end of a mortgage when you’ve paid the balance in full to release the deeds to your property and remove the bank’s claim on them.
The Bank requires that you arrange a valuation of the property (or properties) offered as security, carried out by a valuer acceptable to the Bank. You will need to pay the valuation fee direct to the valuer. You need to agree that fee with the valuer (you should expect to pay a fee of €150 to €250 plus VAT but this can vary). If a loan agreement with you is withdrawn, this fee may be refunded. No responsibility is implied or accepted or warranty given by the Bank for the value or condition of the property as outlined in the valuation. The valuation report will remain the property of the Bank and you are entitled to your own copy of the report.
A fee charged when you wish to move from a variable rate mortgage onto a fixed rate mortgage.
If you do not pay us a repayment instalment or other sum of money by the date you are due to pay it, we may charge you a default interest rate of 0.5% per month or part of a month (which is 6% per year) on the unpaid sum. This default interest is added to normal interest. We do not charge borrowers default interest when they are in a Mortgage Arrears Resolution Process under the Central Bank’s Code of Conduct on Mortgage Arrears and are co-operating reasonably and honestly with us.
You will need to pay legal fees to your own solicitor, which you need to agree with him or her as part of your own arrangement. this does not include costs associated with the bank’s legal investigation of title for the purpose of the mortgage. accountable trust receipt: €63. you will need to pay this fee where your solicitor requests the title deeds from the bank on your behalf. this fee does not apply where a customer seeks additional funds on the same security. security perfection fee for equity release: €400. this fee covers the bank’s legal expenses where the bank agrees to handle an equity release loan without the need for a customer to engage his/her own solicitor. the following additional costs will be payable by the borrower for buy to let properties and principal dwelling housing where the loan amount is €1.5 million or over. 1. the borrower must reimburse the bank for the legal costs incurred by the lender in effecting the lender’s security and related tasks (excluding costs associated with the bank’s legal investigation of title for the purpose of the mortgage); 2. the outlay and fees payable to state agencies for the registration of the lender’s security, which must be remitted to the borrower’s solicitor. the lender’s legal costs to be reimbursed by the borrower are the following: a) the lender’s solicitor’s professional fee of €950 plus value added tax per property b) outlay and fees payable to state agencies for the registration of the lender’s security which shall not exceed €350 per property. the lender’s legal costs, once paid by the borrower, are not refundable. typically these must be paid at the closing of the transaction. you may be liable for legal, valuation and other costs incurred in perfecting the security or any other requirements even if the mortgage loan is not advanced.
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