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Mortgage Interest Rates & Costs
Mortgage Fees & Home Buyer Costs:
- Mortgage Valuation Fee. Cost: Usually €130 - €150.
This is standard with all the lenders & is required on all new and second hand homes.
- Final Mortgage Valuation Fee. Usually Cost €65 - €70 (new homes only)
This is standard will all the lenders.
If you buy off plan, the lenders will require a ‘final valuation’ when the property is finished.
- Indemnity Bond Fee.
This is an upfront one-off fee charged by some lenders if you borrow in excess of 70-80% of the house value, to protect them against you defaulting on the loan. When charged, the fee can vary from hundreds to thousands of euros.
- Arrangement or Acceptance Fee. Cost: Usually €0
These fees are not charged by the main stream lenders, but are charged on ‘specialist’ and ‘subprime’ mortgages i.e. if you have a bad credit history etc. The fees charged are generally between 0.5% to 1% of the mortgage amount.
Other Home Buyer Costs:
- Legal Fees
Moving.ie offer you discounted, low cost legal fees at €799 + vat.
- Legal Outlays (Government, Land Registry & Legal Search Fees)
Cost: Varies from €100's to €1000+
Legal outlays vary depending on the price and type of the property, among other things.
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