Buying a House in Ireland – Legal Fees and other Costs.

The legal fees and other charges when buying a house in Ireland  (Conveyancing Charges) –  will vary slightly across the country. There are no set prices for legal fees – most solicitors will charge a flat fee and some will charge a percentage of the house purchase price.
House buyers should be able to find fixed-rate conveyancing fees from around €700 plus VAT.  but it could cost as much as €1600 plus VAT. Shop around.

Some solicitors might still try and charge a percentage fee  – but the work they do is exactly the same for a cheap house as it is for an expensive house. So try and get a fixed price quote if possible.

Buying a new build house should usually cost less in solicitors fees.

More here about Estate Agent and other fees when Selling a House

Here are a couple of worked examples to give you a guide as to what to expect in terms of overall legal costs.

1. Purchase of house priced at €200,000 

  • Typical Solicitor’s  Fees €1250 plus VAT =  €1537

Fees payable to Government Agencies

  • Land Registry fee  €600
  • Land Registry fee (Certified Copy Folio) €40
  • Land Registry fee (mortgage) €175
  • Commissioner for Oaths €44
  • Search fees (estimate) €150

GRAND TOTAL  including VAT  €2546

2. Sample Charges for a Property purchase costing €300,000:

  • Typical Legal Fees €1,537 (Inc VAT)
  • Search Fees €150
  • Commissioner for Oaths €44
  • Land Registry Fee €700
  • Land Registry Fee for certified copy Folio  €40
  • Land Registry Fee on Mortgage €175

Grand Total  including VAT  €2646

Don’t forget to add on a lenders valuation fee if you are getting a mortgage – this will usually be in the region of  €150 to €250. (Average €200)

Stamp Duty:
Stamp Duty – is charged on house purchases of under €1 million at 1% – so that will add another €3000 to the price of a €300,000 home.
( Houses costing over €1 million are charged a rate of 2% Stamp Duty on the excess value over €1m)

For a €300,000 house – the total fees –  including Stamp Duty and valuation fee will be around  €5846

Stamp Duty and Land Registry fees correct as at April 2019

Land Registry fees –:  The fee is

  • €400 for properties up to €50,000,
  • €600 for properties between €51,000 –200,000,
  • €700 for properties between €201,000-400,000
  • €800 for properties worth more than €400,000.

If you are looking for a mortgage to buy a house – check out  more useful information about where to get the Best Mortgage Rates and How Much You Can Borrow

Buying Property in Ireland From Abroad:

If you are currently living outside of Ireland and are considering buying a property in Ireland – you will also need to think about currency exchange costs.

If you are a cash buyer with funds available in a currency other than Euros – you will need to convert your money to Euros for the house purchase.
Using your bank to do the currency exchange will almost always be the costliest option.
Banks will typically make a profit ranging from 2% to 4% on the markup they use on the exchange rates.
By using a specialist currency exchange company you can save thousands on large transactions. Just a 1% difference in the exchange rate used would save you €3000 on a €300,000 transfer … enough to pay the stamp duty.

Fexco is a currency firm based in Ireland and they specialize in dealing with currency transfers for property purchases in Ireland.  You will get access to a dedicated account manager who will guide you through each step of the process.  Fexco is authorised as a payment services provider by the Central Bank of Ireland and is also regulated by the Financial Conduct Authority for the conduct of payment business in the UK.  They will also help with property purchases in the UK by Irish residents. You can get a free quote at the Fexco Website Here

FairFx is an established foreign exchange specialist firm based in  London with an office in Dublin. FairFx has been operating since 2007 and is fully authorised as a Payment Institution by the UK Financial Conduct Authority.   You can arrange money transfers for property purchases in Ireland with FairFx online or over the telephone.   You can call FairFx on their UK number 0207 858 2001 or on their Dublin number 01 5665546 . The team will be able to advise you on exchange rates and the various options available to you.

Currency Volatility: A fluctuation in the exchange rate between the time you make an offer and paying for the house could end up costing you a lot of money. Specialist brokers can give you the option of locking in an exchange rate for a future transfer  – this is known as a  “forward contract”.

This can help you to mitigate against any change in the exchange rate than could throw you off your budget, giving you the security of knowing what rate you will get on the day you transfer.

For example – if you were buying a house in Ireland for €250,000 on 17th April 2018 – it would have cost you GBP £215,890.  Less than 3 weeks later – you would have needed  £221,332 to exchange for €250,000 Euro.  A difference of £5442.

See more here about  some other places to get the best exchange rates when Sending Money to Ireland