1 - What costs are involved?
In addition to your new monthly mortgage payments these are the main costs of buying a home:
- Mortgage valuation. To check the value of the property - this will be around €130 - MortgageLine can offer free valuations with selected mortgages
- Full structural survey. A more in-depth survey - €300+. Usually only required if a problem is highlighted in the mortgage valuation. However if you have any doubts you should get a structural survey done.
- Stamp duty. Government tax - ranges from 3%-9% of the property's purchase price if it's more than €127,000. Checkout our Stamp Duty calculator.
- Legal fees. Payable to your solicitor. Includes land registration fees and local search fees. Ask your MortgageLine Adviser about our Low Cost Legal Fee's, from €699 + Vat + Outlay.
- Mortgage Protection. Pays the mortgage balance off in the event of the untimely death of one of the mortgage applicants. Mortgage Protection / Life Assurance is required by most mortgage lenders.
- Building insurance. Covers rebuilding costs in the event of damage and is a requirement of any mortgage loan. Costs depend on size and specification of the property.
Next: Let's talk choices
