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Other Costs |
Your Solicitors Fee
According to the
Law Society, Solicitors fees are measured on the recommended scale of 1% of
the total price plus €127, plus 20% VAT.
Note: There
are other legal outlay and you must discuss the total cost of this outlay
and the fee with your Solicitor. |
Stamp Duty Rates
Stamp duty rates
on residential property are as follows |
| First Time
Buyer |
| Purchase Price |
Rate |
| Less than €190,500 |
Exempt |
| €190,501-€254,000 |
3% |
| €254,001-€317,500 |
3.75% |
| €317,501-€381,000 |
4.5% |
| €381,001-€635,000 |
7.5% |
| Over
€635,000 |
9% |
| Owner Occupier |
| Purchase Price |
Rate |
| Less than €190,500 |
Exempt |
| €190,501-€254,000 |
3% |
| €254,001-€317,500 |
3.75% |
| €317,501-€381,000 |
4.5% |
| €381,001-€635,000 |
7.5% |
| Over
€635,000 |
9% |
Residential Invesment Property
New Properties |
| Purchase Price |
Rate |
| Less than €190,500 |
Exempt |
| €190,501-€254,000 |
3% |
| €254,001-€317,500 |
3.75% |
| €317,501-€381,000 |
4.5% |
| €381,001-€635,000 |
7.5% |
| Over
€635,000 |
9% |
| Existing Properties |
| Purchase Price |
Rate |
| All |
9% | |
Indemnity Bond
It is the Company's policy to insist on an indemnity bond being taken out for investment property loans where the amount of the loan exceeds 75% of the value or purchase price of the property, whichever is lower. The indemnity bond is a "once-off" and not an annual payment. |
Property Valuation
In order to assess the value of the property you intend buying, it is necessary to instruct a registered Valuer to complete a Valuation Report.
This will be required before your mortgage can be
finally approved.
This is not a full structural survey which we recommend you have done before you sign contracts, especially in the case of older properties, in order to identify any structural problems. It is not a requirement for your loan approval. |
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