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Buy to let/renting

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  • 24-11-2016 11:02am
    #1
    TAG9
    Registered Users Posts: 1 ✭


    Hi all,

    I’m looking at getting into the landlord/buy-to-let market and I’d appreciate any help or feedback with the below questions.

    As a bit of background, I currently have two properties I rent out so not a complete novice to the industry. I’ve a not insignificant capital base and am looking at possibly purchasing a couple of investment properties with a view to renting them out to either students or social welfare/HSE fixed tenancy. The figure all add up (in an ideal world of course) and a ROI of over 10% should be achievable.

    Does anyone have any experience of the above and/or have any tips or advice?

    - What is the general attitude towards lending to this type of business from the banks perspective?
    - Would there be any leeway on the 70% LTV?
    - Would they be open to increasing this type of portfolio over time? Perhaps with once new property per year.
    - Are there any costs aside from legal, stamp duty, PRTB, Property Tax, Insurance and maintenance/repair fund?
    - How much of a maintenance/repair fund should be by holding every year for student lettings?
    - Anyone have any experience with the HSE/social welfare fixed tenancies agreements?

    Any general advice on any of the above would be much appreciated. Thank you.


Comments

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    #2
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    -There is leeway on the LTV however there were only a tiny fraction of the loans last year that got the exception to the rules.
    -If you can fund the purchase there shouldn't be a problem with buying more.
    -Your costs should also include income tax at the marginal rate less any allowable deductions.


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