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

Buying a house to rent (first time)

Options
  • 02-09-2023 12:04pm
    #1
    ATC110
    Registered Users Posts: 300 ✭✭


    The property is in Northern Ireland and would be modernised then rented out.

    Buyer is domiciled in ROI.

    The buyer would not meet lending criteria based upon their income but owns two other personal properties outright (one in NI, other in ROI).

    Is it possible to apply for a mortgage based upon the future rental income? Would the other properties need to be used as collateral?

    Can anyone advise on whether this is possible and the best approach to take with regard to lenders or brokers etc?

    Thanks in advance.



Comments

  • Options
    #2
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    I dont reckon a NI based lender will be interested in a ROI based collateral.

    Your best bet is to use a NI based mortgage broker.



Advertisement