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20% Deposit for one bedroom apartment

  • 07-03-2019 3:51pm
    #1
    ZilkyG
    Banned (with Prison Access) Posts: 71 ✭✭


    Looking for some help here. Our landlord is selling the apartment were renting, but states that if we bid, we would be viewed favourably. We were informed by AIB that for one bedroom apartments, they require a 20% deposit, as opposed to 10%. We were fine getting 10% together, however 20% is double that! Is this a Central Bank rule, or an AIB rule, and does anyone have experience with lenders who don't require 20% for a one bed? Any help greatly appreciated!


Comments

  • #2
    ozbackineire
    Registered Users, Registered Users 2 Posts: 96 ✭✭ozbackineire


    What AIB have told you is correct. All 1 bed apartments require a 20% deposit as they are apparently harder to sell if they are re-possessed. Any bank will tell you the same thing


  • #3
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    That is a lenders rule. Try KBC they should give you 90% once it's not a shoebox and not in a rural area.

    ZilkyG wrote: »
    Looking for some help here. Our landlord is selling the apartment were renting, but states that if we bid, we would be viewed favourably. We were informed by AIB that for one bedroom apartments, they require a 20% deposit, as opposed to 10%. We were fine getting 10% together, however 20% is double that! Is this a Central Bank rule, or an AIB rule, and does anyone have experience with lenders who don't require 20% for a one bed? Any help greatly appreciated!


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