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Investment Property

 

investment-propertyLending is still available for Residential Investment Properties (RIP’s) however loan to value is very much restricted. Many lenders are offering 70% of the purchase price only on a first investment property and depending on the lender this can be scaled back depending on location. On a second or multiple investment properties the loan to value can be even further restricted in some cases back to 50% on a second investment property.

In assessing an application to purchase a Residential Investment Property the lender will look at an applicants income, existing commitments and rental income. In most cases the mortgage for the new property will be taken on a standalone basis, however some lenders do look for a cross charge on an unencumbered asset or asset with a low loan to value.

See mortgage products and rates here.

Contact one of our mortgage advisors today – info@mortgagehorizons.ie or 01 6624595.

 

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.

 

WARNING: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY.