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are banks lending to property investors?

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  • 17-10-2012 11:02am
    #1
    gambithh
    Registered Users Posts: 220 ✭✭


    in short a block of four appartments has come up for sale in my locality.
    i am looking to mortgage in the region of 100,000 euro.

    i would be a first time buyer an one of the four appartments would become my primary residance the other three id let out.

    iam 32 ,some savings,always 100% good credit.i am 13 months in my current job and permanent.

    (i was turned down 5 months ago for a mortgage because i wasnt long enough in my job)

    i know banks are running scared of lending to investors because of so many defaulting on repayments and may only be lending to ppr, but what is the best way to go about looking for this mortgage?


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    #2
    hwfs.ie
    Registered Users Posts: 25 ✭hwfs.ie


    gambithh wrote: »
    in short a block of four appartments has come up for sale in my locality.
    i am looking to mortgage in the region of 100,000 euro.

    i would be a first time buyer an one of the four appartments would become my primary residance the other three id let out.

    iam 32 ,some savings,always 100% good credit.i am 13 months in my current job and permanent.

    (i was turned down 5 months ago for a mortgage because i wasnt long enough in my job)

    i know banks are running scared of lending to investors because of so many defaulting on repayments and may only be lending to ppr, but what is the best way to go about looking for this mortgage?

    If your earnings and savings can prove that you can afford to re-pay the €100k mortgage without needing to use the rental income from properties i would assume you would stand a good chance of getting a mortgage.


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