Closing on a House in Ireland: Keys, First Payments and What Comes Next

The emotional moment is getting the keys.

The legal and financial moment is closing.

Closing occurs when the solicitors complete the transaction, funds are transferred and the purchase is completed.

Only then should you treat the house as yours.

What happens on closing day?

The precise mechanics are handled by the solicitors.

Broadly:

1. your solicitor has the mortgage and your own funds;
2. final legal searches/checks are completed;
3. funds are transferred to the seller’s solicitor;
4. completion documents are released;
5. the estate agent is authorised to release the keys.

The CCPC says the keys are released once funds have transferred and closing is complete.

Do not book the moving van for 9am

Closing can happen later than expected.

Bank transfers, searches, undertakings or final solicitor steps can move the timing.

If you need to move the same day, build flexibility.

The phrase “closing Friday” does not mean “keys at 9:00 Friday”.

Final inspection

Before closing, consider a final walkthrough / inspection where appropriate.

Check:

• agreed fixtures/fittings remain;
• property has not materially changed;
• known issues have been addressed if agreed;
• new-build snag items are complete where required.

If something material is wrong, contact your solicitor before completion.

Utilities

Once the keys arrive, record meter readings.

Arrange:

• electricity;
• gas where relevant;
• broadband;
• bins;
• water-related private services where applicable;
• alarm monitoring;
• home insurance details.

Photograph meter readings with timestamps.

Change access

For a second-hand home, consider changing:

• external door locks;
• alarm codes;
• gate codes;
• garage remotes.

You do not know how many copies of old keys exist.

Post-closing legal work

Your solicitor’s work continues after you get the keys.

This can include:

• paying Stamp Duty;
• completing registration;
• registering your ownership;
• registering the lender’s charge/security;
• finalising title matters.

You can be living in the property while registration continues.

Local Property Tax

Local Property Tax is an ongoing ownership cost.

For the 2026–2030 valuation period, Revenue uses new valuation bands based on property value at the relevant valuation date.

Local authorities can apply local adjustment factors, so the final amount can differ from the national basic rate.

Use the Local Property Tax Calculator for the current band and local adjustment.

Do not treat LPT as part of the mortgage repayment.

It is a separate annual household cost.

Your first mortgage payment

Confirm:

• repayment date;
• amount;
• bank account;
• whether the first payment differs because of drawdown timing;
• and when the fixed-rate period ends.

Set a calendar reminder for the fixed-rate expiry well in advance.

Build a home maintenance fund

Home ownership converts some irregular costs into your responsibility.

Examples:

• boiler;
• roof;
• appliances;
• plumbing;
• electrical;
• painting;
• drainage;
• windows;
• insurance excess;
• management charges.

A monthly maintenance sinking fund makes these predictable.

The mortgage is not the only housing cost.

Management fees

If you bought an apartment or property in a managed development, add the annual service charge to your housing budget.

Also monitor:

• sinking fund;
• upcoming major works;
• insurance;
• AGM communications.

A service charge can rise independently of your mortgage.

Do not overpay immediately if it empties your reserve

New homeowners often want to attack the mortgage.

That can be sensible later.

But the first months of ownership are when unexpected costs often appear.

Before overpaying, make sure you have:

• emergency fund;
• repair buffer;
• known furnishing/renovation cash;
• expensive debt under control.

Then compare the guaranteed mortgage-interest saving with other uses of money.

Mortgage overpayments

Once the household is stable, an overpayment can reduce interest and term.

Use the Mortgage Overpayment Calculator and read What €100 Extra a Month Can Do to an Irish Mortgage.

Check your mortgage’s overpayment rules first, especially during a fixed period.

Review the mortgage before the fixed period ends

Do not wait until the lender automatically moves you to a follow-on rate.

Start reviewing months ahead.

Compare:

• your lender’s new rates;
• other lenders;
• remaining balance;
• property value;
• current LTV;
• switching costs;
• any break fee;
• cashback incentives;
• and time remaining.

The mortgage that was best when you bought may not remain best.

Use the Mortgage Switch Calculator and the detailed guide Is Switching Your Mortgage Worth It?.

Falling LTV can help

As:

• the mortgage balance falls;
• and/or the property value rises,

your Loan-to-Value ratio can improve.

A lower LTV can sometimes unlock better pricing.

That is one reason to know the approximate current value and outstanding balance when reviewing rates.

Keep the purchase file

Keep copies of:

• contracts;
• closing statement;
• survey;
• valuation;
• planning/compliance documents;
• BER;
• insurance;
• mortgage offer;
• title/registration information;
• management-company documents;
• receipts for major works.

These can become useful when:

• switching;
• refinancing;
• insuring;
• renovating;
• or selling.

The first-year checklist

Frequently asked questions

When do I get the keys?

The CCPC says keys are released once completion has occurred and funds have transferred through the solicitors.

Does my solicitor still work after closing?

Yes. Stamp Duty and property/mortgage registration work can continue after you receive the keys.

Should I overpay my mortgage straight away?

Only if doing so does not weaken your cash reserve and the mortgage terms allow it without excessive cost.

When should I look at switching?

Begin before your fixed period ends, or earlier if market rates change enough to justify reviewing break costs and switching expenses.