Martin Heydon (Kildare South, Fine Gael)
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153. To ask the Minister for Finance if banks are required to pay stamp duty on houses or loans sold by them; and if he will make a statement on the matter. [23272/17]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by Revenue that, where a charge to stamp duty arises on the sale of loans or houses, it is the purchaser and not the person selling the particular loan or house who is required to pay the stamp duty. The rate of stamp duty that applies to houses (residential property) is 1% of the first €1m of the purchase price and 2% of the balance of the purchase price.

Prior to 7 December 2006, stamp duty was chargeable on documents securing loans on property situated in the State and any subsequent transfer of such secured loans. The Finance Act 2007 (section 100) terminated these charges for such ‘mortgage’ documents executed after this date and for transfers of such secured loans occurring after this date.