Stamp duty payable if no mortgage?

R

redracer

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Hi all

I hope someone can help me. I have to sell my house and move further down the country so I can seriously downsize my mortgage due to ill health. I heard before, that although there is no stamp duty on a new house under 125 sq m for owner occupiers, if your mortgage is less than 60%, stamp duty would be payable. Is there any truth in this or does it matter at all what size your mortgage, if any, is? Are there any other conditions for stamp duty apart from size and occupancy?

Any advice would be of great help.

Thanks
 
redracer said:
I heard before, that although there is no stamp duty on a new house under 125 sq m for owner occupiers, if your mortgage is less than 60%, stamp duty would be payable. Is there any truth in this or does it matter at all what size your mortgage, if any, is? Are there any other conditions for stamp duty apart from size and occupancy?
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Never heard of that and don't think it's true. Where did you hear this? SD used to be charged on mortgages themselves over a certain amount - see here:

Stamp duty on mortgages abolished
 
Stamp duty is not linked to the size of your mortgage at all.

But there are exemptions for owner occupiers on new builds as you say- which depending on the circumstances can mean reduced or even no stamp duty on houses even where the floor limit you mention is exceeded.
 
Vanilla said:
Stamp duty is not linked to the size of your mortgage at all.
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But it used to be - i.e. mortgages over €254K attracted 0.1% SD on the mortgage document itself (separate from any SD chargeable on the property itself) with an upper limit of €630. As per the link above this was recently abolished. Perhaps that's what's confusing the original poster?
 
Hi thanks for your replies, that really has eased my mind. Clubman, when I was buying my current house (a new build also) my solicitor mumbled something about there being other conditions for there being no stamp duty. He mentioned the percentage of the mortgage being a factor but this was 4.5 years ago so the details are fuzzy. It was nowhere near €254k so maybe he just liked his own voice! I have been looking around the net for other conditions but couldn't find anything like that so thanks again Clubman and Vanilla.
 
redracer said:
Hi all

I hope someone can help me. I have to sell my house and move further down the country so I can seriously downsize my mortgage due to ill health. I heard before, that although there is no stamp duty on a new house under 125 sq m for owner occupiers, if your mortgage is less than 60%, stamp duty would be payable. Is there any truth in this or does it matter at all what size your mortgage, if any, is? Are there any other conditions for stamp duty apart from size and occupancy?

Any advice would be of great help.

Thanks
Click to expand...

Maybe that was once the case but not now.
Our new mortgage is under 60% and we didn't have to pay any stamp duty.
 
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