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Legal Fees for Mortgage Settlement

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asked on Jun 20, 2017 at 23:16
by   Melvo
Hi,

My home loan is about to settle by end of this month.
I just recevied an email from AXX asking for me to settle payment for the redemption amount as at 30 June 2017 is RM5,510.72. They're using AXX panel lawyer.

I wonder if the price is sensible ?

My home loan use to be 23 years tenure, about 5 or 6 years ago i have refinance under same financiers' AXX which makes my tenure down to 9 years which would end by 1st July with last instalment approx RM 1,097.51.

Looking for some expert advise. Thanks in advanced.
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answered on Jun 21, 2017 at 20:18
by   Melvo
additional info based on feedback from AXX.
These are the breakdowns provided:

Outstanding loan amount             RM    4,070.27  
Houseowner premium                  RM       423.15
Interest up to settlement date       RM         17.30
Contingency Fees (refundable)    RM    1,000.00
TOTAL RM5,510.72

i guess the one in question was Contingency fees, whether this is a norm ?
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