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First time buyer / Buy to let - Mortgage considerations

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  • 10-04-2013 8:05pm
    #1
    newtodub
    Registered Users Posts: 28 ✭


    So I've been living in Dublin a good 18 months and there is a fair amount of 1 or 2 bed properties available close to the city, mainly Dublin 1 for sub 100kE

    The rent vs mortgage return seems to be particularly attractive and wanted some other opinions, whether your pro investment or not - I'm keen to hear opinions.

    It will be my first property and mainly have the funds under loan (80-90%).

    Tips, ideas, good to know's - basically just getting my research done and hope some people who have recently purchased could shed some light.

    Also, what are the rules for buy to let? it's possible I could move there for a period of time before being repositioned by my company, it's also possible I'll stay and just let it out and continue renting in the accommodation I am in.

    Just curious to others opinions?


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  • Options
    #2
    newtodub
    Registered Users Posts: 28 ✭newtodub


    Can any one help at all?


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    #3
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    Banks don't generally lend for buy to let properties where the applicant doesn't own their own home. You could buy it as a property to live in. Max loan to value banks will give you is 75% for a 1 bed apt. There are good yields to be had on purchasing a 1 bed property in Dublin at the moment. I think your post was looking for too wide a range of information and that's why you had no replies. If you had of been more specific and dealt with 1 aspect at a time you might have had a better response.


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