100% mortgages and stamp

C

consi

Guest
Hi, I am applying for 100% mortgage at the moment. Does anyone know if stamp duty is included in the mortgage total or if I will need to come up with that myself?

Thanks in advance for your help
 
Hi Consi,

Unfortunately you have to come up with that yourself along with the solicitor's fees & outlays (~2K) and the house evaluation fee (~130 euro)
 
You will also need an Engineer's Report - if your builder is charging stage payments then it will be necessary for the eng. to make several visits! Our house was near completion when we bought so we only needed 1 visit and a further 1 for the snag list - cost €500.

Shop around for your solicitor - a few old school folk are still charging on a percentage basis (1 or 2%). Negotiate and you should be able to find someone who will do it for €1000+VAT/expenses. I think there are even a few quoting €600/€700.

Also remember your life assurance and house insurance which you will have to pay as soon as you start drawing down the mortgage. You will need to get construction stage insurance before you occupy the house!
 

The above is only relevant to self build and or stage payment purchases. A mortgage valuation is generally €100-€150 and a final inspection circa €60.

Sarah

www.rea.ie
 
A final inspection is required on new houses that have been valued during the course of construction - it confirms the property is complete and the funds can be issued. It's normally done once the snag list is finished.

Sarah

www.rea.ie
 
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