remortgaging irish property but livingin spain

S

sevenlights

Registered User
Messages
21
Hi there

Can anyone give me some advice please. I live in spain and have a property which is rented out in ireland. The LTV rate is aprox 60% and The rent cover s the mortgage with 150 euro left over every month. How would I go about remortgaging as I have no income in ireland? I was just looking to raise an extra 20k.

Thanks in advance
 
just off phone from bank, they didnt want to know apparently the ltv rate is now 50% and thats seen as i have 60% thats it, all they kept banging on about was the credit crunch, suppose wil have to wait and see
 
Hi Sevenlights,
Do you have an income in Spain or a pension or any other income in Ireland.
Based on rental income only, despite low loan to value you wont have much hope borrowing extra in the present environment, however if you have additional income you should have no problem.
Cheers
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