Re-arranging investment loans

H

houseclearou

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Hi

I'm currently looking at re-arranging loans on two investment properties. The figures are as follows ...

Combined values : 1.2m euro +
Combined LTV : circa 20%
Coverage (rent/mortgage) : circa 1.5

The reason for re-arranging the loans is to take advance of lower rates and to facilitate the raising of further finance in the future (possibly making use of an interest-only facility).

I was wondering what sort of rates people are achieving for low LTVs. I'm fairly confident that I can get ECB + 0.9% but should I be able to do better? What about legal costs and valuation costs of transferring the loans?
 
As a real beginner in this investment game am in the same situation of rearranging loans and am wondering if you could explain the term LTV

Thanks
 
No offence but if you didn't know what the term LTV meant then I hope that you are getting independent, professional advice on your property investments!
 
There is a very good (well it seems quite balanced to me but I admit I'm not an expert) article on the 'joys' of interest only mortgaging in this week's Sunday Business Post. It is by Diarmaid Condon who, if I'm not mistaken, has been quoted on the discussion board from time to time.

Link is [broken link removed]
 
NIB offering 3.59% investment variable rate on LTV<60% with a contribution to solicitors fees approx 600 per mortgage switch. The tracker rate (ECB + 9%) not available on investment mortgages.

Ulster Bank offered me! 3.6% (ECB + .85) tracker rate. No solicitors fees included but will pay evaluation fees at 150 per property.

First Active only offer tracker ECB+9% on loans over 250000. |At present their tracker rate is 3.65 anyway. Will contribute to solicitors fees. Awaiting quote.

Waiting to hear from EBS and BOS and PTSB
 
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