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co ownership mortgage rates and fees question
crowmans4
Posts: 88 Forumite
2 quick questions
my partner was accepted for co ownership mortgage in northern ireland. we were originally told co own fee of £250 covers all solicitors etc. thats it
then during co own interview they said a further fee for deeds need paid before completion £346. ok estate agent didnt tell us.
now estate agent is not only asking for that but says shes also due a professional fee of £300. iasked what this was for as shes the selling agent of the house surely the person selling pays the fee. i know this as selling my home with the same agent. ive spoke to 3 or 4 others whove bought co own and were never charged a PROFESSIONAL FEE. so it must be for setting up the mortgage or helping fill in the co own forms which if so is ridiculous as i filled them out myself????
can she charge this fee as shes demands payment now of her professional fee with completion due in 8 weeks.
second question
the mortgage is fixed rate with prudential. first 3 years 5.8% i think then going to standard rate 4.7% . should this not be the other way around. my own mortgage was fixed rate but was lower than the standard rate 4.7%. then when the end of fixed rate came it jumped up to the standard.
just confuses me the 3 year fixed rate is higher than standard...ive asked the agent but they wont really help and are ignoring i guess until they get their professional fee of £300 i am disputing and they have failed to give me a breakdown off.
thanks for reading
my partner was accepted for co ownership mortgage in northern ireland. we were originally told co own fee of £250 covers all solicitors etc. thats it
then during co own interview they said a further fee for deeds need paid before completion £346. ok estate agent didnt tell us.
now estate agent is not only asking for that but says shes also due a professional fee of £300. iasked what this was for as shes the selling agent of the house surely the person selling pays the fee. i know this as selling my home with the same agent. ive spoke to 3 or 4 others whove bought co own and were never charged a PROFESSIONAL FEE. so it must be for setting up the mortgage or helping fill in the co own forms which if so is ridiculous as i filled them out myself????
can she charge this fee as shes demands payment now of her professional fee with completion due in 8 weeks.
second question
the mortgage is fixed rate with prudential. first 3 years 5.8% i think then going to standard rate 4.7% . should this not be the other way around. my own mortgage was fixed rate but was lower than the standard rate 4.7%. then when the end of fixed rate came it jumped up to the standard.
just confuses me the 3 year fixed rate is higher than standard...ive asked the agent but they wont really help and are ignoring i guess until they get their professional fee of £300 i am disputing and they have failed to give me a breakdown off.
thanks for reading
0
Comments
-
can anyone advise on this professional fee is it correct.
and a quick piece on the 3 year fixed rate bein more than standard
any help or advice at all as seeing the estate agent monday so would be nice to have a bit of opinion0
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