completing your mortgage with abbey in N.i.?

kyral

here goes lol........

Fortunately for me my mortgage is due to end in December, unfortunately the endowment is short (big surprise there!). I can arrange a loan to cover the shortfall so in effect my mortgage will still finish in December.

Abbey sent me a letter today and it states that in Northern Ireland 'quote'

"Repay your mortgage completely and we will send you the deeds for safekeeping. There is a Mortgage Closure fee payable with this option, the amount of which will be detailed in your mortgage offer. If you decide to repay your mortgage you will need to appoint your own solicitor to handle the legal requirements."

Following a call I now know the Closure fee to be £225 but what on earth does the solicitor do and how much is this going to cost?????????


More unexpected bills two weeks before christmas:mad: !!

Milko

Having had a couple of mortgages with Abbey over the years, they do clearly state a Closure fee of £225 on all the paperwork, so it really shouldn't be an enexpected bill but as for your solicitor, I assume their role is to transfer the deeds to your name, removing Abbey as an interested party on your property. They will probably also hold your deeds for safekeeping should you not wish to store them in your house.

freddie_2

Can you not keep a very small mortgage (5pounds) with abbey and allow them to keep the deeds?