You are moving home
One step closer to your new mortgage
Your questions, answered
How much deposit do I need as a home mover?
Under current Central Bank rules, home movers require a minimum deposit of 10% of the purchase price. This applies whether you are upsizing or downsizing. Most movers fund this deposit using the positive equity released from the sale of their previous property.
Can I keep my current mortgage rate when moving?
Generally, no. You usually redeem your old mortgage and apply for a new one at current market rates. However, if you stay with the same lender, they may allow you to 'port' your rate or waive breakage fees, especially if you are on a valuable tracker mortgage.
What happens if I am in a chain?
Being in a chain means your purchase depends on your sale. To manage this, your solicitor coordinates the closing dates so both transactions happen simultaneously. If a buyer pulls out further down the chain, it can delay or collapse the entire process, so communication is vital.
Do I have to pay stamp duty again?
Yes. Stamp duty is a transaction tax, not a one-off lifetime payment, so it applies to the purchase of every property regardless of previous ownership. You must pay stamp duty on the new property at a rate of 1% on the first €1 million of value and 2% on any balance above that.
What are the solicitor fees for moving house?
Because moving involves the two legal transactions of selling your old home and buying your new one, fees are higher than for first-time buyers. Expect to pay between €3,000 and €5,000 plus VAT and outlays. Our advisors always recommend getting 3 quotes or more before deciding on a solicitor.
Can I get a bridging loan to buy before I sell?
Bridging loans are short-term loans used to buy a new home before the old one sells. They are very rare in Ireland now, difficult to obtain, and come with high interest rates. Most movers try to align the closing dates in their chain to avoid needing one.