Brian Cowen today announced that he is abolishing Stamp Duty on mortgage deeds with effect from tomorrow, 7/12/2006. This was a Stamp Duty that was payable on all mortgages above €254,000 at a rate of 0.1% of the mortgage amount, with a maximum amount of €635.00. It was collected by the solicitor. So someone obtaining a €400,000 mortgage or re-mortgage used to have to pay €400.00 Stamp Duty on the mortgage deed.
Now that's abolished. Good news for house buyers and re-mortgagers.
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