#Target deposit is the amount you need to save for your new home. This is based on the value of the property and the type of buyer you are. If you are a First Time Buyer, calculate the deposit as a minimum of 10% of the value of the property. For example if the property is valued at €350,000, you will need at least €35,000 deposit. If you are not a First Time Buyer, calculate the deposit as a minimum of 20% of the value of the property. For example if the property is valued at €350,000, you will need at least €70,000 deposit.
*Stamp Duty is a mandatory government charge on each property based on the value of a property. The first €1,000,000 of a property’s value is charged at 1%. Any amount in excess to €1,000,000 is charged at 2% e.g. If a property is valued at €1,250,000, then €1,000,000 charged at 1% = €10,000. The remaining €250,000 is charged at 2% = €5,000. Therefore, total Stamp Duty to be paid is €15,000.
^Extra Costs is an estimated figure of €5,000 which is the combined costs of surveyor fees, valuation fees and solicitor’s fees. These fees may vary based on what type of buyer you are and should be taken as an estimate. Additional costs may also be incurred depending on your personal circumstances. You do not have to get a surveyor’s evaluation, however we recommend that you do.
+The normal maximum borrowing level is 3.5 times your annual gross salary. For a more exact mortgage figure based on your specific information visit our mortgage calculator.