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Liam Brady
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    Posted: 06 May 2012 at 5:51pm
Looking into purchasing lads, any ybiggers make the plunge lately?

Just wondering about extra costs outside of purchase price? Any1 got rough estimates on:

Engineers report
Solicitors
Mortgage protection
Life assurance

Any I'm leaving out?! Had a quick sconse in google but nothing too recent, looking for first hand info,

Cheers in advance,

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Post Options Post Options   Thanks (0) Thanks(0)   Quote daffyp Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:02pm
1% stamp duty
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Post Options Post Options   Thanks (0) Thanks(0)   Quote daffyp Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:03pm
10% deposit cos you wont get a100% mortgage
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap for Pope Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:04pm
Originally posted by daffyp daffyp wrote:

1% stamp duty


Cheers Daffy, forgot to list that
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Post Options Post Options   Thanks (0) Thanks(0)   Quote daffyp Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:06pm
Originally posted by Trap for Pope Trap for Pope wrote:

Looking into purchasing lads, any ybiggers make the plunge lately?

Just wondering about extra costs outside of purchase price? Any1 got rough estimates on:

Engineers report= 300 quid
Solicitors 2000-2500 shop around
Mortgage protection 40 quid per month
Life assurance 60 quid per month

Any I'm leaving out?! Had a quick sconse in google but nothing too recent, looking for first hand info,

Cheers in advance,

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Liam Brady
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap for Pope Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:07pm
Originally posted by daffyp daffyp wrote:

10% deposit cos you wont get a100% mortgage


Got this covered thankfully, mortgage approved in principle, myself and the missus both permanent primary teachers. Keep em coming daffy!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote soccerc Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:21pm
Buildings Insurance €300
Contents Insurance €150 - €300
TV Licence €160

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sham157 Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 6:37pm
Land registry fees as well, valuation report
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap for Pope Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 7:05pm
Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report


Cheers Sham, any ballparks on these? Just want to be set up before starting the process, very keen on a house at the moment......
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Post Options Post Options   Thanks (0) Thanks(0)   Quote horsebox Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 7:12pm
.

Edited by horsebox - 06 May 2012 at 7:22pm
     
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Post Options Post Options   Thanks (0) Thanks(0)   Quote horsebox Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 7:21pm
I have about 20 direct debits going out all related tks my house.
House insurance, life assurance, bin charges, gas, electricity, mortgage, upc
, property tax, tv licensed there is others that i can't think of
     
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Post Options Post Options   Thanks (0) Thanks(0)   Quote daffyp Quote  Post ReplyReply Direct Link To This Post Posted: 06 May 2012 at 11:54pm
Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report

Both about 150 quid as far as I can remember
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Post Options Post Options   Thanks (0) Thanks(0)   Quote flick Quote  Post ReplyReply Direct Link To This Post Posted: 07 May 2012 at 12:14am
Originally posted by Trap for Pope Trap for Pope wrote:

and the missus



Pics?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap for Pope Quote  Post ReplyReply Direct Link To This Post Posted: 07 May 2012 at 1:29am
Originally posted by flick flick wrote:

Originally posted by Trap for Pope Trap for Pope wrote:

and the missus



Pics?


Up the yard with ya!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sham157 Quote  Post ReplyReply Direct Link To This Post Posted: 07 May 2012 at 12:11pm
Originally posted by Trap for Pope Trap for Pope wrote:

Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report


Cheers Sham, any ballparks on these? Just want to be set up before starting the process, very keen on a house at the moment......


€150 for the valuation report. Similar for the Land Registry. Also dont be bullied into taking out life cover with your mortgage provider, shop around to get the best deal. I recently changed via insure.ie saved a few quid. Same goes for payment protection.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Eamonn68 Quote  Post ReplyReply Direct Link To This Post Posted: 07 May 2012 at 12:17pm
Im an IFA  and those estimates for Life assurance look very high
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Roberto Baggio Quote  Post ReplyReply Direct Link To This Post Posted: 15 Sep 2020 at 12:26pm
What would the tax implications for an Irish tax resident be of buying a property in NI?
 
Stamp Duty (or did they do away with that recently?) a tax return on any rental income - is that it?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Olaf Quote  Post ReplyReply Direct Link To This Post Posted: 15 Sep 2020 at 2:20pm
Originally posted by Roberto Baggio Roberto Baggio wrote:

What would the tax implications for an Irish tax resident be of buying a property in NI?
 
Stamp Duty (or did they do away with that recently?) a tax return on any rental income - is that it?

Stamp duty has been stopped until March. If you are a first time buyer you don’t pay stamp duty until after £300,000 anyway (That may be different in NI, but it’s the rule in England) 

There’s ways around paying tax on rental income, PM me. You use to be able to claim your interest paid monthly against your expenses on the property. The one of doing that now is using it as serviced accommodation instead of simply a rental property, which is what I do for HMOs as then Section 24 doesn’t apply. You don’t need to declare any rental income to HMRC if it’s below £1000. Between £1001 - £2500 you must declare it to HMRC, anything more you’ve to fill in a self assessment annually. If it’s your first you should be fine from HMRC. Either way make sure you hammer expenses, that’s where most people lose money. As for capital gains tax, just live in the house that solves that, and as for stamp duty in normal times just buy something without a kitchen or bathroom. You don’t pay stamp duty on a house that’s not habitable.


Edited by Olaf - 15 Sep 2020 at 2:23pm
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