Costs and documents required for purchase mortgage
Documentation required for a mortgage for property purchase if you are self-employed:
- Last 12 months bank statements
- Accountants reference
- Latest self-assessments, Tax return and SA302 (if applicable)
- Credit Report from Experian or Equifax for UK applicants or the ICB for Irish applicants
- Occasionally you may be asked for a bank reference
- Copy of your passport
Costs involved in a mortgage for property purchase:
If you are able to obtain 100% of the purchase price you still need to pay the costs of the purchase. These typically amount to between 10% and 12% of the purchase price
An approximate breakdown of costs:
- IVA (Tax) 5.5%
- Mortgage deed tax 1.8%
- Notary & Registry fees 1.25%
- Bank Arrangement fee 1%
- Lawyers fees 1%
- Stamp duty on new build 0.5%
- Valuation fee € 300
-
Translator
