re-stamp deeds

Paddyo

I have to get my deeds 're-stamped' by a solicitor . Taking out a top loan and the value of the morgtage will excced a limit set by the bank.

Does anyone have any idea how much this should cost?

Many thanks
Paddyo

De Deraco

Nothing as there is no longer any stamp duty payable on Mortgages.

tell him to take a look at the Budget 2007 and contact the revenue commisioners.

I work in a large bank and solicitors continually make this mistake

Paddyo

Thanks for the reply De Deraco

Its not to do with stamp duty, its called re-stamping the deeds. I think the solicitor re-checks the deeds and all debts and judgements etc, if any, related to the property.

Paddyo

De Deraco

He doesn't need check the deeds at all. all banks rely on the original solicitors( the one you used when you first got a mortgage) certificate of title.

All he has to do is perform Bankruptcy, judgement and land registry searches. which should cost him about €50,and drawdown the cheque from the bank and issue it to you. im not sure how much he will charge you though.

p.s. there is no stamping involved in a top-up.

Paddyo

Here is an estimate I received

1. Cost of taking up deeds from 45.00
2. Cost of Obtaining Vacated Mortgage from 0.00
3. Stamp Duty on Mortgage (.1% if Greater than €254,000.00) 0.00
4. Stamp Duty on Counterpart Mortgage 0.00
5. Stamp Duty on Assignment of Life Policy 0.00
6. Cost of Letter re Roads and Services if not with deeds 0.00
7. Cost of Letter re Change of Address if not with deeds 0.00
8. Land Registry Fees on Registration of New Mortgage (Max) 125.00
9. Land Registry Fees on Registration of Vacate of old Mortgage 0.00
10. Land Registry Fees on Land Certificate 0.00
11. Land Registry Fees on Certificate of Charge 0.00
12. Up to date Copy Folio on Completion of Registration 25.00
13. Searches 150.00
14. Miscellaneous (Commissioners fees, Marriage Cert etc) 48.00
15. Postage and Stationery 65.10
16. Legal Fees 275.00
17. Vat at 21% 71.45

Total €804.55

Is this correct?

Paddyo