The legal fees and other charges when buying a house in Ireland .
Conveyancing Charges in 2021 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 fixed-rate conveyancing fees from around €700 plus VAT. but it could cost as much as €1750 plus VAT (€2117).
Some solicitors still 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.
There are also fees charged by the Property Registration Authority (PRA) – these are outlined below.
- 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
More here about Estate Agent and other fees when Selling a House
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.
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 and Land Registry fees correct as at January 2021
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 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. Three 3 weeks later – you would have needed £221,332 to exchange for €250,000 Euro. A difference of £5442.
Currency Solutions is a London based international payments company. Established in 2003 and fully authorised by the UK Financial Conduct Authority. If you need to exchange large amounts of currency - they will be able to provide bank beating rates for you. You can visit the Currency Solutions website for a free no-obligation quote and they will call you back. Alternatively you can call them on their UK number 0044 (0)20 7740 0000. OR on their Irish number (00353) 01 431 1344
See more here about some other places to get the best exchange rates when Sending Money to Ireland