Buying Land - Hidden Fees

Stamp duty is the big one @ 7.5%

so stamp duty alone in your 100k farm is €7,500

Stamp duty- 7.5%

solicitors fees- whatever you’ve agreed. And May include some of the below.

land registry deed of transfer- €130

land registry new folio (if required) €75

maybe right of way registry- €40

maybe folio maps- €40

As far as I know if you are getting a commercial loan to buy the land you will end up paying for the banks solicitor also.

Public liability insurance thereafter too.

If you are under 35 and completed the green cert you are excempt from paying stamp duty. Unless this changed in recent years.

You don't have to have completed it at the time either. I think you get 4 years to do so before it is clawed back

😁 electric fencer and over two months of free grazing for the man's cattle in a recent transaction with me

Neck like a jockeys ballsack

The gate was there before him...

Well if you can afford to buy land ,you surely should be complaining about buying a gate and to say the gate was there before him ,how can you say it belonged to the land .

What sort of a statement is that?. I can say it belonged to the Land because it did... Thats just a fact

Variable I guess, its quoted as a fixed rate of 3.75% over base over 20 years. Base borrowing rates for the bank is currently 0% but if that moved to like 2% they your 3.75% rate would increase by 2%. I agree it looks expensive to me so I'm interested to hear what others are being quoted or have agreed in recent years.

I was looking at purchasing a parcel of land, just wondering what way is the interest calculated on these loans? I was trying to purchase some a few years ago but I was only borrowing some of the money over 12 years and my interest rate 6.5 percent unsecured, just reading here some posters were getting a rate of 3.5 to 3.7 percent, , how are you been offered these rates? Is this rate an option when going 20 years?

I don't think so on the 40. There is an age limit of 40 for some schemes (Organic I think) but I don't think that's applicable for stamp duty. 35 and under for Stamp duty and be classed as "trained" (or attain that within X years) and you get 0%. If you go Green Cert route it isn't free either to do it and it will take a bit of time/effort. I think it's abotu 3k through Teagasc and maybe 2k for the private colleges.

1% is for consanguinity relief. That is being for transferred land from a close relative. Age irrelevant for that.

Where are you buying and why are you buying?

My own opinion on this young farmer scheme malarkey is it is ageism and discrimination. Theirs an awful lot of lads who are not in a financial position to buy land until well into their 40s or build new sheds etc I wonder has anyone challenged these schemes on a legal basis.

Young farmer schemes are there to encourage farmers to transfer their farms early. If the age limit wasn't there the reliefs wouldn't be any advantage as the owners would be transfering their farms to 40 - 60 year old heirs any way.

Challenge it and the reliefs could be scrapped because there'd be no benefit