Solicator Fee Query - Stamp Duty Mortgage?

O

officelink

Guest
Presently selling our 3 bed semi and searching for a new home also.
Received the quote for selling and purchasing of the two houses from our solicitor. One query on the quote:

Stamp Duty Mortgage:

*Please note that stamp duty is chargeable on the mortgage deed at the rate of 0.1% on the amount borrowed if the total borrowings are over Eur254,000.00 (e.g. for borrowings of Eur350,000.00 the stamp duty is Eur350.00.)

Has anyone come across this fee before? Surely the stamp duty we are expecting to pay at 7.5% includes this?

Appreciate any information.
 
Has anyone come across this fee before?

Yes - this is entirely correct.

Surely the stamp duty we are expecting to pay at 7.5% includes this?

No it does'nt - that is the stamp duty on the Deed under which you acquire the property. Revenue charge a separate sum on the mortgage deed where the amount of the mortgage is in excess of E254K.

mf
 
You must log in or register to reply here.
Back
Top