It may not be long before you can buy a home in a country with no standards for furnishings.
The Government is to release a new national guide next month which will give advice on how to buy and sell houses.
The guide, which is based on data from the Department for Communities and Local Government, says there are two key ways to get around the rules.
Firstly, you can pay a deposit and then, if you are a property owner, you must keep the deposit in the account of the property you are buying.
This is known as the “purchase deposit”.
Secondly, if your deposit is not in the accounts of both your mortgage lender and the bank, you will have to pay a fee.
The fees vary from property to property, but are usually between 2 per cent and 10 per cent.
The fee can be waived for people who are over 50, and people with disabilities.
“A large proportion of people are unaware of this rule,” says Simon O’Connor, the chief executive of the Property Council of Ireland.
“It can be frustrating and stressful for people trying to get a mortgage and make sure they are getting a house that is suitable for them.”
It is unclear what the Government will do with the information.
There are currently a number of websites which offer information on buying a home.
One is Property.ie, which has more than 30,000 listings in Dublin, Dublin West and Dublin South.
Another is The Real Estate Advisor, which sells real estate advice online.
A third is The Property Guide.
This site is owned by the Property Investment Council of Australia.
A fourth is The Land Brokers Association, which offers advice on buying and selling real estate.
Property Council Ireland is also a registered charity.
“We’re working on a new guidance for people,” says O’Connors.
“The Government has not released this information yet, but we do have some suggestions that might make a difference.”
The Property Council says it is not clear what is behind the delay in releasing the guide.
“I would have thought that would have been done when the Government released its final guidance on how people should approach the acquisition of property, as we’ve been working with them on that guidance,” says John Connolly, president of the council.
The Landbrokers Association says it wants to work with the Government to ensure that its guidance is clear.
“As an organisation, we would like to see the guidance released as soon as possible, to allow people to make an informed decision,” says Connolly.
“There are many opportunities to make a real contribution to the market through the purchase and sale of a home, including through investment in the private rented sector.”
The National Guidance is expected to be released later this year.