Notaire fees for selling property/redeeming mortgage

[stan]

I have had a couple of posts on here re the sale of my house, but another question I cannot find th answer to, and one which i would`nt mind answered before I go to the Notaire with some other bits of documentation I have to hand in.

Basically I have a mortgage on the property and obviously the Notaire has to take that off the final price and return same to the bank. Does anyone know the fee for this? There will be no early redemption fee applied by the bank, but there must be some charge made for redeeming the funds.

[NormanH]

It is called the mainlevée d'une hypothèque, and is the paperwork involved in lifting the title that bank holds over the property.

It is about 0.75 % of the initial loan, so for a mortgage of 100,000€ it would be around 750€

There is a calculator on this site

http://www.rachat2pret.com/faq/main-levee-hypotheque

The rest of the site is about re-mortgaging but the first part is relevant to you.

[idun]

What does your mortgage contract say? Because one we  had, had a percentage charge, I suppose a sort of fine, for paying it off early as well as the implications on the hypotheque.

[NormanH]

Yes me too idun, based on notional lost interest I suppose..

[stan]

[quote user="idun"]What does your mortgage contract say? Because one we  had, had a percentage charge, I suppose a sort of fine, for paying it off early as well as the implications on the hypotheque.[/quote]

As I said, nothing to do with the bank, my mortgage paperwork says no early redemtion fee, and they have already confirmed in writing that they seek no charges. The question is re the Notaires`s fee for returning the funds to the bank and all the necessary paperwork re title deeds in relatuion to the bank`s security over the property.

Bit alarmed with the other post though that the Notaires fee is a percentage of the original loan. We originally bought with a bridging type loan of nearly 100% of the purchase price, which is literally 10 times of what is left to pay on the mortgage.

[NormanH]

[quote user="stan"][quote user="idun"]What does your mortgage contract say? Because one we  had, had a percentage charge, I suppose a sort of fine, for paying it off early as well as the implications on the hypotheque.[/quote]

As I said, nothing to do with the bank, my mortgage paperwork says no early redemtion fee, and they have already confirmed in writing that they seek no charges. The question is re the Notaires`s fee for returning the funds to the bank and all the necessary paperwork re title deeds in relatuion to the bank`s security over the property.

Bit alarmed with the other post though that the Notaires fee is a percentage of the original loan. We originally bought with a bridging type loan of nearly 100% of the purchase price, which is literally 10 times of what is left to pay on the mortgage.

[/quote]

Which is exactly what  I answered!

Did you try the calculator on the site I linked to as I suggested?

There is another one here: just enter the amount of the original credit in the box

http://www.paris.notaires.fr/outil/immobilier/frais-de-mainlevee

[stan]

Yes NormanH, you answered my question perfectly, tthank you very much. I did try the link to the site you suggested but could not find that particular calculator. I found another calculator on the paris.notaires site, just a bit annoyed that they should take a percentage of the original loan, rather than what one has left to pay, but hey ho, thats France !