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Cost of switching banks

Question

Hi
I am renegotiating my house loan with my Bank - Fortis. I am also looking at the possibility of switching the loan to another bank. Fortis have told me that on top of the bank penalty charges, I would need to pay around 7k for notary costs if I switch to another bank. Has anybody experience of that, and is it really 7k to notarize ?

Answer
becasse Oct 2, 2017 14:09

If you switch the source of a loan, a new mortgage contract has to be drawn up, and the old one rescinded, that has to be done by a notary and the charges, related to the (outstanding) value of the loan, are fixed by law. So € 7K is certainly possible. If you ask a notary, any notary, they will tell you the charge for free, they only charge when the document is drawn up and signed.

Answer
francis.patters... Oct 2, 2017 18:45

Yes.Speak to a notary.
They will tell you what you need to pay and believe it or not they will no charge you for the advice...your bank is probably trying to keep your custom .

Fingers crossed.

Answer
Paul McNally Oct 2, 2017 23:39

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