Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Properties divided into flats

Options
  • 13-02-2014 2:57am
    #1
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭


    Will a bank give a mortgage on these. I'm not looking to rent out the flats but live in the house myself and convert it back. Thanks for any insight.


Comments

  • Options
    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    It depends on lots of factors- not least how much it may cost to convert it back to a single residential unit. Many units, akin to the one you're discussing, may find their potential planning applications problematic- however close contact with the Council's planning department may prove highly worthwhile.

    Depends on the lender- but I can't see any obvious reason a property like this wouldn't qualify for a mortgage (depending on valuation, percentage LTV etc etc).


  • Options
    #3
    Marcusm
    Registered Users Posts: 10,328 ✭✭✭✭Marcusm


    Check the zoning as well as the individual use. If it's pre 63 (actually pre 1 October 1964) it may not have a current us permission. Check the city council development plan. For the ones I've been interested in, the stated council polic was to support conversion to a single dwelling.


  • Options
    #4
    Victor
    Registered Users Posts: 78,417 ✭✭✭✭Victor


    You may find the bank reluctant to lend for the renovation and depending on the property, renovation may cost more than the purchase.


  • Options
    #5
    Claw Hammer
    Registered Users Posts: 6,238 ✭✭✭Claw Hammer


    Bepolite wrote: »
    Will a bank give a mortgage on these. I'm not looking to rent out the flats but live in the house myself and convert it back. Thanks for any insight.

    Most such houses have a lengthy and complicated planning history. Many are protected structures. The De-conversion back to a family home will be difficult and expensive. In light of the a bank will be very wary. A low LTV and evidence that the person has the experience and skills to carry out the job would be fundamental requirements.


Advertisement