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Is it possible to get a third mortgage?

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Comments

  • #32
    AndrewJRenko
    Registered Users, Registered Users 2 Posts: 29,227 ✭✭✭✭AndrewJRenko


    daheff wrote: »
    OP

    so long as you do your sums and have a contingency plan should something go wrong, the banks will give you the 3rd mortgage. They want to see ability to repay loans.
    Yeah, try to get a contingency plan that doesn't involve the bank repossessing your family home if the other loans can't be repaid for whatever reason.


  • #33
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    Once the figures stack up and you qualify for a Residential Investment Property mortgage you shouldn't have a problem getting one. Bear in mind that you will need 30% deposit and rental income for the two properties will be reduced by 50% to take into consideration tax, expenses etc. Also the interest rate on these mortgages will be stressed tested.

    Stopitwillya wrote: »
    Have deposit but not 30%.
    Was hoping 10% deposit would do.


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