Solicitors tell me Stamp Duty to be paid

F

FionaT

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Hi

I'm a first time buyer on a new property under 300k. I've been ringing solicitors to get quotes for legal fees and all of them are mentioning stamp duty is to be paid if I am borrowing over 254k from the lender. Can anyone clarify this for me as I understood as a first time buyer on a new property I was exempt if it was under 317k?
Any help appreciated.
Fi
 
You are paying stamp duty on the mortgage deed, not the actual property.

The solicitor is correct. There is no exemption once the mortgage is over €254,000, even for FTBs.

The amount payable is 0.1% of the mortgage amount, subject to a maximum of €630.

All explained [broken link removed].
 
This is referring to Stamp Duty of 0.1 per cent on the mortgage not the Stamp Duty on the property itself. So mortgage of 255,000 would incur Stamp Duty of 255 euro.
 
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