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Buying a house

  • 16-01-2017 2:38pm
    #1
    Franw246
    Registered Users, Registered Users 2 Posts: 13 ✭


    Ive been renting a house for about 3 years now and really want to more.. was thinking for looking into buying a house as it's really getting me down that I'm spending as much money on rent to get nothinothing back for it.. me and my partner both work.. weve found a house we're really interested in but don't know how to go about the mortgage solicitors and all that goes with it..
    The house is 130,000 but I don't know how much of a deposit I'd need to put towards the mortgage..
    We should be able for the repayments as our rent at the minute is 500..
    Am I better off just going into the bank and go from there?


Comments

  • #2
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭Squall Leonhart


    Assuming you haven't bought a house before, you'd need a deposit of €13,000 to buy the house.

    That means you'd need to borrow €117,000. If your income is €33,428 or more, you can apply for this mortgage on your own (3.5 times gross salary), or if your combined income between you and your partner is greater than €33,428 you can apply jointly.

    Don't forget there will be solicitors fees etc on top of this.


  • #3
    Gumbo
    Moderators, Society & Culture Moderators Posts: 41,588 Mod ✭✭✭✭Gumbo


    10% deposit
    1% stamp duty
    solicitor fees
    surveyors fee

    These will all be above and beyond the deposit, then you need money to furnish the property.


  • #4
    Jofspring
    Registered Users, Registered Users 2 Posts: 4,155 ✭✭✭Jofspring


    kceire wrote: »
    10% deposit
    1% stamp duty
    solicitor fees
    surveyors fee

    These will all be above and beyond the deposit, then you need money to furnish the property.

    I thought no stamp duty for a first time buyer.


  • #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 41,588 Mod ✭✭✭✭Gumbo


    Jofspring wrote: »
    I thought no stamp duty for a first time buyer.

    I thought that the first time buyer exemption was done away with years ago, and the flat rate fee introduced, 1% up to €1m and 2 on balance.

    Edit : Yes, done away with in December 2010

    http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/stamp_duty.html

    So first time buyers pay stamp duty.


  • #6
    Jofspring
    Registered Users, Registered Users 2 Posts: 4,155 ✭✭✭Jofspring


    kceire wrote: »
    I thought that the first time buyer exemption was done away with years ago, and the flat rate fee introduced, 1% up to €1m and 2 on balance.

    Edit : Yes, done away with in December 2010

    http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/stamp_duty.html

    So first time buyers pay stamp duty.

    Ya seems to be done away with. Had thought t was still around.


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