mortgage tax

[phorbiaa]

What is the difference between mortgage tax and property tax? mortgage tax is the same as property tax but mortgage tax is pay to the bank because you borrow the mortgage loan?
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[Nigel Howarth]

Hi phorbiaa and welcome to the forum.

The 'mortgage tax' is a one-off charge equivalent to 1% of your mortgage.

This becomes payable when title to the property is registered in your name - it's a mortgage registration charge.

You can read more about this is the Department of Lands & Surveys Citizens Charter - on pages 46 and 47.

Regards,