Stamp duty query

M

moneyhoney

Registered User
Messages
516
I assume banks do not lend money required for stamp duty?

For example, if I found a house at €350k, I would need to come up with 8% of purchase price + €15,750 stamp duty = €43,750 before any lender would consider a mortgage?
 
No they do not lend the money required for stamp duty. You may find yourself requiring more than 8% deposit in the current climate. Some people require as much as 20% as the banks will only give 80% of cost depending on the type of property being purchased.
 
Family home has been left to me and my 3 brothers so ive the option to buy But big question is do I pay stamp duty on the asking price of the house or on the three quaters i'm actually paying for. ie my brothers share.I'll be selling my own place to buy it...
 
You pay stamp duty on the 3/4's only. Unless you are a first time buyer in which case you pay none.

mf
 
Thanks for that , its what i thought but you never know the way things are going there are snags every where.....Cheers abbey
 
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