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Monaghan Property Sales
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Estate Agents & Auctioneers Monaghan |
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Property Finance and Stamp Duty
Mortgages
After finding the property you want, you may need to organise finance and a mortgage.
We deal with many providers of mortgages in this country, but the key thing is that we are independent from them.
The advice which we give to you is free and independent.
Stamp Duty
When does a charge to Stamp Duty arise?
The stamp duties chargeable in Ireland fall into two main categories.
The first comprises the duties payable on a wide range of legal and commercial documents, including (but not limited to) conveyances of property, leases of property, share transfer forms and certain agreements. The duties in this category are denoted by means of stamps affixed to or impressed on the document affected and, depending on the nature of the document, may be either ad valorem or of fixed amount.
The second category comprises duties and levies payable by reference to statements. These duties and levies mainly affect banks and insurance companies and include a duty in respect of financial cards (e.g. Credit, ATM, Laser and Charge cards) and levies on certain insurance premiums and certain statements of interest. Guidance Notes in relation to financial cards are available here.
Companies Capital Duty
Transactions involving capital companies effected on or after the 7 December 2005 are no longer liable for the 0.5% Companies Capital Duty which was abolished in Budget 2005.
For transactions effected on or after 7 December 2005 the relevant Form should be filed directly with the Companies Registration Office (CRO) together with the CRO fee of €15 (increased from €12 in respect of forms filed on or after 1 December 2005).
For transactions effected before 7 December 2005 the relevant Form should be submitted to the Revenue Commissioners (see address below) together with the appropriate duty and interest and the CRO filing fee of €15 (increased from €12 in respect of forms filed on or after 1 December 2005).
Residential Property The most common charge to stamp duty which affects individuals is the stamp duty on the purchase of residential property; i.e. houses and apartments. The amount of stamp duty payable depends on:
The price paid (or the market value where the price paid is less than market value) for the property
Whether the property is new or second-hand and
Whether you are a first time buyer, owner-occupier or investor
First Time Buyers
A first time buyer is a person who has not previously purchased or built a house or apartment anywhere in the world and who is purchasing a house or apartment for use as their principal place of residence. Where there is more than one buyer, each of the buyers must be a first time buyer to obtain the reduced first time buyer rate. The benefit obtained where the reduced first time buyer rates apply is subject to clawback provisions
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