Important information on fees and charges you need to consider.
If repossession proceedings are not defended by you, then it is estimated that the costs and outlays incurred will amount to approximately €6,500.00 In the event of proceedings being defended and/or adjourned on a number of occasions and/or if the proceedings are deemed complex and/or in the event of any appeal or applications for an extension of stay on any order made, additional costs will be incurred and if awarded will be charged to your mortgage account and will be payable by you. It is estimated that the costs and outlays incurred in respect of such proceedings will amount to approximately €13,000.00.
Once in possession of the mortgage property, the Company will place the property with a selling agent and put it on the open market in order to obtain the best possible price.
Please note that all costs in relation to the sale of the property will be paid from the sale proceeds before funds are lodged to the mortgage account. In the event the Company sells the property at a loss, ALL parties to the mortgage will be liable for the shortfall due and owing to the Company after all costs in respect of the sale are paid. In the event the Company sells the property and after all costs in respect of the sale are paid, there is a surplus amount remaining, any charges or judgements registered against the property will be discharged in priority and any remaining surplus funds will be issued to the borrower’s.
Property conveyancing and disposal costs are approximately €10,500 but may vary depending on the sale price of the property. Any additional liabilities associated with the property must be discharged by the company e.g. Non Principal Private Residence (NPPR), House Hold Charges (HHC), Local Property Tax (LPT), Capital Gains Tax (CGT), Value Added Tax (VAT), Management Company charges/ fees. All liabilities and costs will be charged to the mortgage account and payable by you.