July 5, 2019

Notary mortgage costs

What are the average costs of notary house purchase?

A mortgage entails the necessary costs. For example, the notary fees are a fixed cost item when taking out a mortgage, but also at the time that you sell the property or have fully repaid your mortgage. How high are the notary fees for a mortgage and what do they consist of? Read everything about the average notary fees in the article below.

Notary mortgage costs

Notary mortgage costs

When buying a home, you engage a notary for the mortgage deed and for the purchase or delivery deed. The mortgage deed contains information about the mortgage, the mortgage provider, the property and you as the owner. The deed of sale is the agreement between you as a buyer and the seller of the house, which clearly states that the seller is transferring the house to you.

The notary fees for the mortgage and deed of sale consist of:

  • Registration fees Land Registry. The notary registers the deeds in the registers of the Land Registry. A fixed rate applies for this. The notary pays these costs to the Land Registry, but charges these costs to you.
  • Search costs Land Registry. The notary must select and look up certain matters in the registers.
  • Fee. The notary performs work to prepare and register the deeds and this takes time.
  • VAT. You pay 21 percent VAT on the above costs.

Average costs of notary house purchase

Average costs of notary house purchase

It is best to compare the rates of different notaries, because each notary works with different rates. On average you pay more than 700 to 2,000 euros for the mortgage and purchase deed.

Notary fees house – Mortgage transfer

Notary fees house - Mortgage transfer

Sometimes you save a lot on your mortgage by transferring it to another mortgage provider. For example, because you then pay a lower mortgage interest. At the end of the fixed-rate period, you do not have to pay penalty interest in the event of a transfer, but you do pay notary fees because a new mortgage deed is required. These notary fees amount to just under 500 to more than 1,500 euros.

Average notary fees – Unsubscribe from the land register

If after some time you have repaid your mortgage in full, you can have it deregistered with the Land Registry. After all, there is no longer a mortgage on the home. For this you also use a notary. This will cost you around 70 to more than 200 euros.

Average notary expenses deductible?

Average notary expenses deductible?

Certain notary fees are tax deductible. This means that you can deduct your expenses once from your taxable income in box 1, so that you pay tax on a lower income. This applies to the mortgage deed, but not to the purchase deed. Moreover, the costs for the mortgage deed are only deductible if you move.

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