I am considering buying an investment property for approx €250k and am looking for an answer from some of the mortgage advisors here if possible.
My current disposable income would not enable me to make a very large mortgage payment every month, but I do have assets that would cover the cost of borrowing.
I think that I can realise more from the assets on an annual basis than the cost of the mortgage which would be approx €200k which is why I don't want to buy the property outright.
Do lenders take assets (cash & equities) in to account when processing a mortgage application and if they do, would they generally require you to pledge these assets to the instituion in the case of non-repayemnt of the mortgage?
Thanks for any help
My current disposable income would not enable me to make a very large mortgage payment every month, but I do have assets that would cover the cost of borrowing.
I think that I can realise more from the assets on an annual basis than the cost of the mortgage which would be approx €200k which is why I don't want to buy the property outright.
Do lenders take assets (cash & equities) in to account when processing a mortgage application and if they do, would they generally require you to pledge these assets to the instituion in the case of non-repayemnt of the mortgage?
Thanks for any help