When buying a home , it is important to be aware of the related costs so that you are not caught unawares too late into negotiations and finding yourself in a tight financial position. We work with you in order to ensure that the purchase of your home is affordable, whilst still allowing you to enjoy life as you know it.

Deposit
Banks typically loan up to 90% of the purchase price, so you need to have 10% of the purchase price for the deposit.

Bank Loans
In general, you can borrow up to 90% of the value or purchase price of the property, whichever is the lower, subject to the repayment on your home loan, not exceeding 30% of your disposable monthly income.  The term of loan may be extended or reduced on request, subject to satisfactory life assurance arrangements, normal credit assessments and age limit. The maximum term of a loan is 40 years, up to the age of 65 years.

As security for the loan, the property being financed is to be charged in favour of the Bank and the applicant is required to effect both life and property insurance.

More information on loans from individual banks can be obtained from our Mortgage Section .

Stamp Duty
Stamp duty is 3.5% on the first €117,000. This concession is applicable only on the purchase of one’s main residence.

If the purchase price is over €69,881, the stamp duty on the difference is calculated at 5%.  In the case where the property is not the main residence, stamp duty is calculated at 5% on the entire amount.

The payment of the stamp duty is split - 1% of the purchase price is to be paid on registration of the preliminary agreement, the remaining stamp duty is due on signing of the final deed.

Deed Fees & Expenses

Approximately 1-2% of the value of the property. This includes enrolment in Public Registry, search and warranty of title, Lands Registration, Notarial fees and other sundry expenses. The cost may vary depending on the volume of searches that have to be carried out.  These are to be paid upon signing of the final contract.

The above are to act as a guideline. Certain cases may require more in-depth work and knowledge, depending on the situation. Your Property Consultant at Sara Grech will be able to guide you accordingly.

N.B. This information can change from time to time.  Such updates will be posted on this site.