Mortgage Approval in Principle
Talk to your Mortgage Broker or the bank/Building society as early as possible. You are looking for Mortgage Approval in principle at this stage. There is no point in viewing properties before you know what a lender is prepared to loan you and how much the repayments will be.
Factor in Costs of Purchasing
Factor in 1% of the purchase price of the property for Stamp Duty (2% for properties over €1 million). A structural survey, carried out by an engineer, will be anywhere between €300-€500 plus vat. You will also have to pay for the mortgage valuation which will be approx €110 plus vat. Finally your solicitor costs will vary but expect approx 1% of the sale price plus vat. To sum up a good rule of thumb for costs associated with purchasing is 2.5-3% of the house price.