We went with Mortgage ABC this year as first time buyers and I cannot recommend them highly enough. John was our broker and was always at the other side of the phone or email for anything we needed, or any questions we had, which was often quite a few! This year, when there were unprecedented times for everyone and everyone was adapting to remote working etc, John remained in constant contact with us throughout. He was highly professional and we were never in doubt that our application was being handled to the best of his ability. I would highly recommend John and Mortgage ABC for any first time buyers looking to take the stress out of the application process, we moved in to our home in December and I have no doubt we would have had a much more stressful and complicated process, had it not been for John.
Research and having the right people to help you are key when investing in property. It definitely pays to do your homework on the property market before you dive in, and we’re thrilled to be on board to help you when it comes to financing your decision.
So whether you’re just starting or expanding your rental portfolio the key to a successful buy to let investment is to plan your finances and choose the right property. Once you’ve done this the next step is securing the finance to make a purchase. Just like all other mortgage types, if you go directly to a bank they can only offer you their individual product and rates. We can present your application to a variety of lenders and then show you a clear picture of your options.
There are vast differences between the ways in which Irish mortgage lenders assess and approve buy to let mortgages for residential investment properties. Key considerations include:
Deposit requirements (minimum 30%)
Capital & interest or interest-only options
Buyer type: individual, company, or pension
Proposed rental income
It may also be possible to refinance an existing investment property, in order to reduce the interest rate, to raise funds towards a new property purchase, or to change the payment structure to interest-only. As with most good advice, let us know what you are planning and we can offer the benefit of our expertise early on to ensure the solution being considered is the right one for you.