Stamp duty on a remortgage

Hi there, maybe I'm looking in the wrong place on the revenue site but I don't seem to be able to find stamp duty rates on a remortgage/top up/trade up.

Anybody out there know where this kind of info might be?

If the new mortgage is over €254,000 (or a top up takes it over this amount) there will be Stamp Duty of 0.1% on the mortgage deed. The maximum is €635. There are other legal outlays on a remortgage of around €300/€400. There is no Stamp Duty on the property itself on a remortgage or top up.

Sarah

www.rea.ie

Thanks for that Sarah.

Just one thing that I, perhaps it obvious to others, don't quite follow. When you say the max is €635 how can this be if .01% of €254k is actually €2,540?

Did you perhaps mean that you only get charged 1% if the value of the remortgage is below €635k and the % rises if the value exceeds this figure?

Apollo said:

Just one thing that I, perhaps it obvious to others, don't quite follow. When you say the max is €635 how can this be if .01% of €254k is actually €2,540?

Click to expand...

It's not 0.01% it's 0.1% and 0.1% of €254K is €254 (i.e. €254K / 1000)!

0.1% of 254k is €254, I think you are calculating this as 1% which is €2,540.