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    Archived pages: 512 . Archive date: 2012-07.

  • Title: Home Buyers - Should you buy brand new or old properties?
    Descriptive info: Buying an older property vs.. a brand new property.. Older Properties.. Stamp Duty.. is exempt for first time buyers on both new and second hand properties.. However, owner occupiers and investors pay stamp duty on properties in excess of 125,000.. There is no guarantee of structural soundness.. (tip: get a structural survey to protect yourself).. Repairs: many older properties need repairs which cost time and money.. They are usually more expensive to heat.. Many fixtures and fittings may have to be replaced.. (e.. g.. kitchen).. Suits DIY ers best.. The rooms and gardens of older homes are likely to be bigger than those built in the last decade or two.. The garden is likely to be more  ...   'Home Bond' or 'Premier Guarantee', which covers the property for structural soundness for 10 years.. Houses the rooms within them tend to be smaller than second hand homes the gardens tend to be smaller.. The garden will take a few years to mature.. Download a Sample Chapter (free).. or instantly download the full 100+ page guide for 17.. Get a Mortgage Quote NOW.. Quotes from Mortgages Direct.. Low Cost Legal Fees.. For Home Buyers or Sellers.. 799 + vat + outlay.. House Surveys, Snags, BER.. Find a surveyor at surveyors.. ie.. Mortgage Quote.. Property Surveys.. Snag Lists.. BER Energy Ratings.. Property Guides.. Property News.. Home Buyers Guide 2009.. HOME BUYER WEBSITES:.. 2009.. Pay Per Click.. by.. PPC Ireland..

    Original link path: /Guides/old_vs_new.asp
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  • Title: Buying a property at auction in Ireland
    Descriptive info: Buying a property at auction in Ireland.. Important Considerations when buying at auction:.. If your bid is accepted at auction, you are legally bound to buy the property.. You must therefore ensure that you have the finance arranged beforehand.. Ensure that the house is structurally sound.. Get your solicitor to establish that there are no legal or title problems.. If you are going to buy at auction, you should follow this process:.. Instruct your solicitor that you intend to bid for a house at an auction.. Before the auction, the solicitor will obtain a copy of the contract and will examine it to ensure that the title of the property is OK.. The solicitor will check to  ...   that the house is structurally sound.. This causes expense but it could save you thousands or tens of thousands of euros in the long run.. Get approved for finance.. At the auction, if you are the highest bidder (after the reserve price is met) the property will be sold to you.. You will sign the contracts immediately and pay a 10% deposit.. A completion date will be specified in the contract.. This is when you will have to pay the balance and you will receive the keys.. Your solicitor will complete the legal work and will arrange with your lender or broker to drawdown your loan cheque.. You will meet the solicitor to sign the remaining documents..

    Original link path: /Guides/auction.asp
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  • Title: Surveys / Snag Lists / Valuations Ireland
    Descriptive info: Mortgage Valuation / Structural Survey / Snag Lists.. Mortgage Valuation:.. This is a fee charged by the lender to get a property professional to value the property and to find out if the property is suitable to mortgage.. A valuation report is prepared by an independent valuer on the lenders behalf and the lender usually passes the cost ( 130 - 150) on to you - although if you arrange your mortgage on Moving.. ie, we'll pay this fee for you.. Obvious faults with the property are often mentioned, but it is highly recommended that you get a snag list (new property) or a structural survey (second  ...   that it is structurally sound.. The lender does not require you to have a structural survey, but it is in your interest and is a great protection for home buyers.. Would you buy a second hand car without consulting a mechanic? In a similar way surveying the home is the only way to ensure that the property that you will spend hundreds of thousands of euros on, is sound.. Snag List:.. When you buy a new property, a snag list should be arranged at the completion stage, to outline the 'snags', small problems, or unfinished pieces of work that need to be completed, before you complete the sale..

    Original link path: /Guides/surveys_snaglists.asp
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  • Title: Buying Property With Friends
    Descriptive info: Buying Property with Friends.. The reason most people end up buying property with friends or siblings is usually due to high price of homes and the difficulty in borrowing enough money to buy one.. If your problem is that you can't get a big enough mortgage to buy on your own, buying with a friend may be a good option.. (A few of my friends didn't earn enough money to get on the property ladder on their own, so they ended up buying with friends and it worked out well for them).. It is important to put some thought into it and come up with an agreement to make sure it works out smoothly.. Getting a Mortgage:.. Most mortgage lenders are happy to offer mortgages to friends buying property together, as long as the friends meet with the normal lending criteria.. (Generally, they will only take two incomes into account, even if there are more than two people buying the property together).. You have to take out a joint mortgage together.. Borrowers are 'jointly and severally' responsible.. This means that rather than being responsible to pay half the mortgage, each borrower is responsible for the whole amount.. So, if one person doesn't pay, the  ...   the agreement of the other, is worth considering.. Legal agreements can be drawn up to give the remaining friend 'first option' to buy out the share at market value.. Each owner should agree to take out and maintain an accident, sickness and unemployment insurance policy to the value of their share of the mortgage you should also consider adding serious illness cover to your mortgage protection policy.. What happens in the event of death?.. What happens if one person misses mortgage payments?.. PROS of buying with a friend:.. You can afford to get on the property ladder.. You can share the costs of buying (such as legal fees), furnishing and decorating the property.. You'll share the ongoing costs such as mortgage payments, bills etc.. You'll own a share of a property instead of renting and paying 'dead money'.. CONS of buying with a friend:.. You only own half the property.. At some stage in the future, you'll generally have to sell the property or buy the other persons share.. Just Make Sure:.. Make sure you both have the same expectations and get your solicitor to put an agreement in writing.. The Next Step:.. Get a mortgage quote & find out how much you can borrow..

    Original link path: /Guides/buying_property_with_friends.asp
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  • Title: Rent a Room Scheme - Renting out a room in your home
    Descriptive info: Rent A Room Scheme.. If you rent out a room in your principal private residence (i.. e.. your home) to private tenants, the rental income will be exempt from income tax, as long as the income does not exceed 10,000 per year - equivilent to 833.. 33 per month.. The Basics of the Scheme.. :.. Renting a room does not affect an individual's entitlement to mortgage interest relief or CGT exemption for a principal private residence.. Where more than one person is entitled to benefit from the rent (e.. a husband and wife) the limit is divided between the individuals.. The tenant can still claim tax relief on the rent paid.. You cannot get tax relief on rent charged to a son or daughter for renting a room.. You are not covered by landlord legislation, so you.. do not.. have to register with the PRTB..  ...   either you or they have to give to end the agreement, how often the rent is paid etc.. While no tax is liable, you must include it in your annual tax return (a Form 12 form is available from revenue.. ie).. Warning:.. If the rental income exceeds 10,000 per year, you have to pay tax on the full amount of the renal income.. In addition, there are stamp duty and Capital Gains Tax implications, in this senario, as you would be treated as a regular investor rather than an owner occupier.. How does the rent a room scheme effect getting a mortgage?.. Some lenders will increase the amount you can borrow if you are planning on renting a room.. Obviously, they won't take room rental into account, if you buy a studio or one bedroom apartment.. Find out how much you can borrow:.. Online Mortgage Application..

    Original link path: /Guides/rent_a_room_scheme.asp
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  • Title: Irish First Time Buyers - Tips on buying & selling property in Ireland
    Descriptive info: Tips on.. buying and selling property in Ireland.. Tips on Buying:.. List the features that are essential to you on a daily basis.. being near public transport or having adequate parking.. Put the ten most important features in order and decide which ones you can do without.. Write down all the areas, towns and counties which you would consider living in.. How long do you intend living in the home?.. What will it be like in winter and summer?.. What will it be like at night, weekends and rush hour?.. What is the community like?.. Is there room for extending, if you start a family for example?.. Will you still be happy there in 3-5 years?.. Is the home too far from your friends and family?.. finding the perfect home.. Get familiar with the area the state of repair of nearby houses, the neighbours etc.. Find out about local facilities and services such as transport, fitness centres, local bars and restaurants.. Find out what facilities are available for kids.. If you will be using public transport how close is the bus stop or train station?.. Visit the area at different times from rush hour to weekends and night time.. Think twice about buying an apartment or flat - it may suit you now but will it if you decide to start a family?.. What direction is the garden facing? Will it have the sun  ...   sure the house is neither too hot nor cold during viewings.. Clean all the windows.. Speak about the local good points such as good schools or great restaurants.. Spell out the good everyday points such as low utility bills, extra cable TV connections etc.. Point out security features such as window locks, spy holes etc.. as this will make people feel safe in the home.. finding a good Estate Agent.. Recommendation: Ask your friends and family who have sold their homes recently to find out if they were happy with their agent.. They are unlikely to give you bad advice when speaking from experience.. Image: If the agent s staff and premises are well presented it s a good sign of a well run organisation.. Are they professional?.. Experience: Try to deal with senior people because there is nothing better than experience.. Newspaper Advertisements: Read the newspaper property sections and local papers to see which agents are specialists in your type of home.. Sold Signs: Check out the local agents track record by looking for sold signs in the neighbourhood.. Fees: How much commission are they charging and what are the extras (e.. newspaper ads etc)? Will the agent do all the viewings?.. Stay in Touch: Keep in contact with your agent.. Information: Give the agent a fact sheet of the property s good points.. The more they, know the better price they ll achieve..

    Original link path: /Guides/tips.asp
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  • Title: Investment Property Ireland | Buy to Let Mortgages Ireland
    Descriptive info: Buying Investment Property in Ireland - The Basics:.. Investment Property Mortgage / Finance:.. - Borrow between 75% - 90% of the purchase price.. - Or borrow 100% + costs by freeing up equity in your existing property.. - Some lenders (but not all) charge higher rates for investors, so make sure you are quote 'investor rates'.. Pro's of Irish Property Investment:.. - Alternative to the under-performing stock market.. - Property has historically been a 'safe' investment.. - Negative Gearing - Property is one of the few investments where you can use finance to buy an asset which is worth 5 - 10 times your cash input.. - Your rental income should service part or all of your mortgage.. - Historically, rents and property values increase in value, adding to your investment reducing the cost of servicing that investment.. Con's of Property Investment in Ireland:.. - Property is not a liquid asset like shares - it can't be sold as quickly or easily.. - Involves more management of the investment - consideration such as finding tenants, running costs such as maintenance etc must be factored in.. Establish your Investment Goals:.. - How long are you planning on keeping the property.. - Are you looking for capital appreciation or an income from the property (or both)?.. - Will the rental income service the loan? It's always good to research the likely rent you would  ...   granted for vast developments? Are there plans for local authority housing in the area?.. - Is the general area undergoing Urban Development? (which should result in the local property market increasing as a whole).. Factors to consider when deciding on a potential property / area:.. - Who will rent the property - decide on your preferred tenant type - professionals, families, students, tenants with local authority subsidies?.. - Cost of property.. - Ease of renting (are there local hospitals, industrial estates or business parks etc where your targeted tenants work?.. - Will the rent service the mortgage (or at least a significant portion of it)?.. Upfront Costs:.. - Deposit of 10% minimum (unless you release equity from your existing property).. - Stamp Duty.. - Legal Fees.. - Surveyors Report.. - Refurbishment costs / furniture etc.. Ongoing Costs:.. - Mortgage Payments.. - Insurance costs (house insurance mortgage protection).. - Management fee (apartment complexes).. - Rental / Management fee (if you use an agent).. - 'Downtime' - allow up to 2 months per year when the property is not rented.. - Tax.. - Maintenance.. What's Required for Mortgage Approval:.. - Income Details - P60, pay slips, Salary Cert (or accounts for self employed).. - Banking Details - Mortgage, Loan current account statements.. - I.. D.. - Passport / Driving License, Original Utility Bill.. Get a mortgage quote find out how much you can borrow..

    Original link path: /Guides/investors.asp
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  • Title: Buying Investment property in Ireland - the costs
    Descriptive info: Irish Property Investors - Tax on investment property:.. Tax Tax Relief on rental income:.. Generally speaking, rental income is treated in a similar way to your normal income from work, and is taxed at the same rates - for most investors, the tax on rental income would be charged at 41%.. Reduce you tax liability - claimable expenses:.. Interest paid on the money borrowed to buy the property.. Rates.. (if applicable).. Insurance.. Management fees.. Repairs and maintenance etc.. Advertising and Agency fees.. Capital Allowance of 12.. 5% of the value of fixtures fittings in years 1 - 8.. These deductions, will help minimize the tax that you have to pay on your rental income, which generally speaking, makes property investments very tax efficient.. Tax on selling the property - Capital Gains  ...   price = gain ).. Therefore, in this example, you would pay CGT on your 100,000 gain at 20%, resulting in 20,000 tax.. Other articles to read:.. VAT Implications for Investment Property - Ernst Young Ger Manning.. Revenue guide to rental income.. (PDF Download).. Taxes - Example.. Example: Tax payable on Rental Property.. Rent Received.. 14400.. Less: Expenses / deductions.. Mortgage Interest*.. 7447.. Insurance on property.. 500.. 150.. Repairs.. 700.. Maintenance.. 1000.. Agency fees.. Advertising fees.. 200.. Additional misc.. expenses.. 300.. Total Expenses.. 10797.. Net rental Income.. 3603.. Less: Capital Allowances on F F.. 10,000 at 12.. 5%.. 1250.. Net Taxable rental income.. 2353.. Tax assuming 41% rate.. 965.. * For the purpose of this illustration, we assumed a repayment mortgage of 180,000 over 20 years, with an interest rate of 4.. 2%..

    Original link path: /Guides/investor_costs.asp
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  • Title: Tax on investment property in Ireland
    Descriptive info: I.. nterest paid on the money borrowed to buy the property.. Rates (if Applicable).. Insurance, management fees, repairs, maintenance etc.. Tax assuming 42% rate.. 1%..

    Original link path: /Guides/tax.asp
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  • Title: Irish Mortgages for Investors | Buy to Let Mortgages
    Descriptive info: Irish Property Investor (Buy to Let) Mortgages:.. Repayment Mortgage (annuity mortgage):.. Interest and capital repayments each month.. At the end of the term, your mortgage will be paid off, and you will own the investment property in full.. Apply for a quote.. Interest only mortgage facility:.. Designed primarily with the property investor in mind.. The mortgage interest is serviced but no repayments are made towards the capital borrowed.. Can be converted to a standard repayment mortgage at a later stage with no penalties or legal fees (some minor admin fees may be involved).. This product is aimed at the investor who wants to buy property for capital appreciation purposes, while keeping the mortgage repayments low.. It suits a property purchase, where the initial rent is too low to fully service a standard repayment mortgage, because the mortgage repayments will be kept low as only interest is paid.. You can  ...   the mortgage on an interest only basis almost indefinitely, with some lenders.. Then when it comes to selling the property, you profit from any increase in the property value, and repay the mortgage amount you borrowed.. Apply for a quote.. Pension Mortgage.. Very tax efficient way of buying investment property, but it is not suitable for everyone.. The pension mortgage is made up of two parts - a mortgage and a pension.. The mortgage is set up on an interest only basis, thus keeping your mortgage interest relief at a high.. Level for the term of the whole mortgage, and a pension is set up, to pay off the mortgage amount, out of your tax free lump sum, when you retire.. Who does this product suit? This mortgage type is only suitable for self-employed people, owner - directors or those who are not already in a company pension scheme..

    Original link path: /Guides/irish_investment_mortgages.asp
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  • Title: Irish Property Market Analysis
    Descriptive info: Irish Property Investment - property market analysis.. Permanent TSB / ESRI House Price Index.. (June 2005) - Released August 5th 2005.. (May 2005).. ie Quarterly Analysis.. (Q4 2004) External link..

    Original link path: /Guides/property_market_analysis_ireland.asp
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    Archived pages: 512