I am interested in purchasing a property outside of Dublin which is in effect 3 houses on about 4 acres. It consists of a 4bd bungalow, with a 3bd cottage about 20 metres away (old family home before building 4bd) and another 3bd property on another part of the land. The plan would be to live in the 4bd and since myself and my wife intend working from home, we would intend using the 3bd cottage as office space. The 3rd property could be rented out as it is close to scenic tourist areas and good fishing.
The price is coming in around €330,000 so as first time buyers this would push us into the stamp duty bracket since it's over the 317,500.
What I'm wondering is does anyone know how the situation would affect mortgage application and stamp duty? Are there any other aspects to take into account in a purchase like this?
Mortgage?:
Since the purchase covers 3 properties would you be getting one mortgage or would you be required to value each property seperately and get a home mortgage on the 4bd bungalow and then an investor mortgage to cover the rest of the purchase.
Stamp Duty?:
Is it possible to divide the sale into two purchases, and pay no stamp duty on the 4bd bungalow as first time buyers under the 317,500 threshold, while buying the rest of the property as investor, once again with no stamp duty as it would probably fall under the €127,000 threshold. I'm not looking to break any laws just wondering if this would be an option.
The price is coming in around €330,000 so as first time buyers this would push us into the stamp duty bracket since it's over the 317,500.
What I'm wondering is does anyone know how the situation would affect mortgage application and stamp duty? Are there any other aspects to take into account in a purchase like this?
Mortgage?:
Since the purchase covers 3 properties would you be getting one mortgage or would you be required to value each property seperately and get a home mortgage on the 4bd bungalow and then an investor mortgage to cover the rest of the purchase.
Stamp Duty?:
Is it possible to divide the sale into two purchases, and pay no stamp duty on the 4bd bungalow as first time buyers under the 317,500 threshold, while buying the rest of the property as investor, once again with no stamp duty as it would probably fall under the €127,000 threshold. I'm not looking to break any laws just wondering if this would be an option.