Stamp Duty - Additional costs not aware of

[sulo]

Hi

Just to note, our solicitor advised us, that the govt look for additional monies to the 6% we paid on our home (FTB).

We have to pay an additional €390 on top of the €25k we paid them. If I recall rightly it is a cost on each €1,000 we borrowed plus a 12.50 admin fee to the govt.

Couldn't believe it.

 

[Vanilla]

Sounds like stamp duty on your mortgage- at 0.1% up to a maximum of €630 where it is capped, plus €12.50 on a counterpart mortgage. This is normal.

 

[Blinder]

I belive this is mortgage stamp duty

From the revenue site : http://www.revenue.ie/

Stamp Duty

Mortgages, Debentures

• Where the amount secured does not exceed €254,000 exempt
• Where the amount secured exceeds €254,000 * 0.1%

* subject to a maximum duty of €630
​

​

 

[sulo]

Thanks very much! Never knew.

 

[Sarah W]

Your solicitor should have made you aware of the legal outlays (other than Stamp Duty) at the start of the process. They are;

1) Stamp Duty on Purchase Deed:


Purchase Price First Time Buyers Owner Occupiers
up to €127,000 nil nil
€127,001 - €190,500 nil 3.00 %
€190,501 - €254,000 nil 4.00 %
€254,001 - €317,500 nil 5.00 %
€317,501 - €381,000 3.00% 6.00 %
€381,001 - €635,000 6.00 % 7.50 %
€635,001 + 9.00 % 9.00 %


2) Stamp Duty on Mortgage Deed:
0.1% of the mortgage (only on mortgages over €254k)

3) Stamp duty on Assignment of Life Policy (only on mortgages over €254k) €12
Stamp duty on Counterpart (only on mortgages over €254k) €12
Stamp duty on Deed of Variation €12


4) Registration of Transfer and Mortgage; €______________

For properties between €51,000 and €255,000 €375 + €125
For properties between €255,000 and €385,00 €500 + €125
For properties over €385,001
€625 + €125

Issue of Land Certificate €25
Folio and File Plan €25
or
Registry of Deed fee on Purchase and €88
Mortgage Deeds


5) Commissioner for Oaths fee €20


6) Legal Searches €65 - €152


Sarah

www.rea.ie