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Mortgage Max 80%

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  • 10-06-2005 10:22am
    #1
    ktoal
    Registered Users Posts: 112 ✭✭


    Does anyone know why lenders in the Rep.Ireland will only give a mortgage max of 80% if you wish to buy a proprity in the North?

    I'm from the north but been living in Dublin of over 10 years. But since it is near impossible of a single person to buy proprity in the south, I thought I'll try up north. But I've been trying to get a mortgage in all the major banks in the south and 80% is the best they can come up with.

    Has anyone else been in this situation?


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    #2
    Einstein
    Registered Users Posts: 2,630 ✭✭✭Einstein


    80% sounds like very little,
    IIB homeloans give 90% on re-mortgages, but not sure about initial mortgages.
    PTSB gave me 90% loan for my house 2 years ago and I'm single!


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    #3
    ktoal
    Registered Users Posts: 112 ✭✭ktoal


    Did you buy your house in the North?


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    #4
    Merrion
    Registered Users Posts: 1,421 ✭✭✭Merrion


    Because the usual credit risk associated with a home loan is compounded by a currency movement risk between sterling and euro so the bank wants you to share more of that risk.


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