Buying a house-hidden costs? |
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Trap for Pope
Liam Brady Joined: 13 Oct 2011 Status: Offline Points: 1744 |
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Posted: 06 May 2012 at 5:51pm |
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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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Living for Away days
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daffyp
Liam Brady Joined: 19 Jan 2009 Location: Ireland Status: Offline Points: 1596 |
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1% stamp duty
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daffyp
Liam Brady Joined: 19 Jan 2009 Location: Ireland Status: Offline Points: 1596 |
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10% deposit cos you wont get a100% mortgage
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Trap for Pope
Liam Brady Joined: 13 Oct 2011 Status: Offline Points: 1744 |
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Cheers Daffy, forgot to list that |
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daffyp
Liam Brady Joined: 19 Jan 2009 Location: Ireland Status: Offline Points: 1596 |
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Trap for Pope
Liam Brady Joined: 13 Oct 2011 Status: Offline Points: 1744 |
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Got this covered thankfully, mortgage approved in principle, myself and the missus both permanent primary teachers. Keep em coming daffy!! |
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soccerc
Jack Charlton Joined: 10 Oct 2007 Location: Ireland Status: Offline Points: 7717 |
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Buildings Insurance €300
Contents Insurance €150 - €300 TV Licence €160 |
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Sham157
Moderator Group Joined: 17 Jul 2009 Location: Monaghan/Dublin Status: Offline Points: 33205 |
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Land registry fees as well, valuation report
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Trap for Pope
Liam Brady Joined: 13 Oct 2011 Status: Offline Points: 1744 |
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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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horsebox
Robbie Keane Born n bred in darndale. Joined: 03 Feb 2010 Location: Ireland Status: Offline Points: 34822 |
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Edited by horsebox - 06 May 2012 at 7:22pm |
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It was far across the sea,
When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
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horsebox
Robbie Keane Born n bred in darndale. Joined: 03 Feb 2010 Location: Ireland Status: Offline Points: 34822 |
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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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It was far across the sea,
When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
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daffyp
Liam Brady Joined: 19 Jan 2009 Location: Ireland Status: Offline Points: 1596 |
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Both about 150 quid as far as I can remember |
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flick
Ray Houghton Joined: 04 Jul 2010 Location: Ireland Status: Offline Points: 3674 |
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Pics? |
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GWAN YBIG
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Trap for Pope
Liam Brady Joined: 13 Oct 2011 Status: Offline Points: 1744 |
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Up the yard with ya! |
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Sham157
Moderator Group Joined: 17 Jul 2009 Location: Monaghan/Dublin Status: Offline Points: 33205 |
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€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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Eamonn68
500 Club la la la Joined: 27 Sep 2010 Status: Offline Points: 534 |
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Im an IFA and those estimates for Life assurance look very high
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Roberto Baggio
Robbie Keane UNBELIEVABLE JEFF Joined: 28 Jan 2010 Status: Offline Points: 37291 |
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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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Olaf
Kevin Kilbane Joined: 13 Jul 2020 Location: Far away Status: Offline Points: 269 |
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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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