Interest relief & Stamp duty

Relief is normally only available in the first 7 years of a mortgage

Finance act 2010

• Relief had been extended until 2017 for those whose relief was to expire in 2010 or after.
• Qualifying loans taken out on or before 31/12/2011 will continue to get relief till 2017.
• Transitional measures for qualifying loans taken out during 2012.
• Loans taken out on or after 1/1/2013 will not qualify for relief and mortgage interest relief will be abolished completely at the end of 2017.

Stamp duty

• Applies in respect of instrument executed on or after 8th December 2010. Stamp duty exemptions and reliefs which applied e.g. in relation to first-time buyers and purchases of new residential property, have been abolished with effect from 8th December 2010.

Home Choice Loans

• A Home Choice loan is a government initiative aimed at helping first-time buyers at a time when there is less choice in the market.
• First time buyers can apply for a Home Choice loan to purchase a new, second hand property or build their own home.
• A Home Choice loan provides up to 92% of the market value of a property purchased. The maximum loan amount is €285,000. The loan is a normal capital and interest bearing mortgage which is repaid on a monthly basis.
• Home Choice loans offer one variable interest rate. The rate is currently set at 4.20% variable.

Valuer/Surveyor’s Fee’s

Lending Institutions require their own panel valuer's report on the property, upon which they are lending. This is compulsory. We collect this fee and send it to the valuers. It costs €130 including vat. In certain circumstances it is necessary to commission an independent architect's report on the property. The decision of the cost rests with the client. Generally it will cost between €250 and €650, depending on the property type, size and condition.

Our Fee's

Legal fees can be broken down into three parts, a professional fee, the vat charged on this fee and legal outlay. Legal outlay costs will be similar, regardless of the solicitor you choose and are shaped by the property that you buy. Outlays typically cover the Land Registry or Registry of Deeds fee and other small costs in registering your ownership of the property. We generally suggest that first-time buyers put aside €2,000 in total for legal fees. People switching mortgage provider can budget for less, people buying and selling need to budget for more.

Legal Fee's

The firm's income is generated by disclosed commissions from industry product providers and in some situations client fees. Initial consultations are free and if a fee is deemed appropriate to a case, it is discussed and always agreed in writing with the client at that stage.