Summary of legal fees and other costs when buying a house in Ireland .
Solicitors Conveyancing Charges / Legal fees when Buying a House in Ireland vary slightly across the country. There are no set prices for legal fees in Ireland – 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 some places offering fixed-rate conveyancing fees from around €700 plus VAT. but some solicitors seem to be charging as much as €1750 plus VAT (€2117).
Some solicitors might try and charge a percentage fee – but the legal work they have to 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 – but it doesn’t always work out like that.
Even with a fixed price quote – many solicitors will add on extras such as “Miscellaneous Outlays” !
- 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.
- Stamp Duty on houses costing over €1 million is charged at 1% for the first million and a rate of 2% Stamp Duty on the excess value over €1m. On a house costing €1.4 million – the stamp duty would be €18,000.
- 10% Stamp Duty – (Since May 20th 2021). This rate applies to bulk purchases of property (ten or more).
More here about Estate Agent and other fees when Selling a House
There is no VAT on second-hand houses – but VAT is charged on new homes at a rate of 13.5%.
There have been many calls for this VAT to be reduced or abolished to help first-time buyers. The VAT in the UK on new homes is Zero.
Land Registry Fees
The Property Registration Authority (PRA) charge Land Registry Fees as follows
- €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.
Your solicitor will include these fees in your final bill.
Here are a couple of examples to give you a guide as to what to expect in terms of overall costs.
1. Sample Costs for a house purchase of €200,000
- Guideline 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 mortgage fee €175
- Commissioner for Oaths €44
- Search fees (estimate) €150
- Stamp Duty €2000
Grand Total including VAT €4546
2. Sample Costs for a Property purchased at €500,000:
- Guideline Legal Fees €1,750 (Inc VAT)
- Search Fees €150
- Commissioner for Oaths €44
- Land Registry Fee €800
- Land Registry Fee for certified copy Folio €40
- Land Registry Fee on Mortgage €175
- Stamp Duty €5000
Grand Total including VAT €7919
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 , VAT and Land Registry fees correct as at July 2021
You can get personal mortgage advice from our partners at Money Sherpa
Buying Property in Ireland From Abroad:
If you are currently living outside of Ireland and are considering buying a house in Ireland with some money held overseas – you will also need to think about currency exchange costs.
You can read more on that on our page about Buying a House in Ireland From Overseas
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 money transfer companies 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 that 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. Three 3 weeks later – you would have needed £221,332 to exchange for €250,000 Euro. A difference of £5442.
Get a quote for Currency Transfer
Garton Global Payments is based in London and was set up by Irish native Niall Walsh. They have plenty of experience in dealing with large money transfers between Ireland and other countries. All payment processing is carried out on the CurrencyCloud platform which is fully authorized and regulated in the UK, EU, US, and Canada .
You can request a quote online or call the Garton team direct on (UK) +44 20 8004 5841 or on their Irish number +353 (0)1 6571484
See more here about some other places to get the best exchange rates when Sending Money to Ireland