Robert Wilson
Registered User
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- 2
Hi guys,
Looking for advice.
I own a house in Dublin with my wife In Rathfarnham. The adjoining house is coming up for sale. Probably be around 600k. My younger brother, in his 20s, is living and working in Silicon Valley. He earns 165k a year (dollars). We earn about 130k euro joint and have 470k mortgage on our PPR. He intends to move back to Ireland eventually. We would like to buy the house adjoining to me together.
1) Do banks provide BTL type mortgages when One applicant (me) is resident in Ireland and the other (My bro) lives in the USA (single)
2) If so what kind of LTV would be on offer. I know typical BTL is 75% for Irish resident, but seen as he’s in the USA, does this make it a non resent BTL, limiting it to 65%?
3) In terms of the deposit. I would have 100k. He wouldn’t. Though he’s earning $165k a year gross. Could he borrow money short term to make up the difference? He obviously has the capacity to repay it. How do the banks view that though.
Thanks, all help welcome.
Looking for advice.
I own a house in Dublin with my wife In Rathfarnham. The adjoining house is coming up for sale. Probably be around 600k. My younger brother, in his 20s, is living and working in Silicon Valley. He earns 165k a year (dollars). We earn about 130k euro joint and have 470k mortgage on our PPR. He intends to move back to Ireland eventually. We would like to buy the house adjoining to me together.
1) Do banks provide BTL type mortgages when One applicant (me) is resident in Ireland and the other (My bro) lives in the USA (single)
2) If so what kind of LTV would be on offer. I know typical BTL is 75% for Irish resident, but seen as he’s in the USA, does this make it a non resent BTL, limiting it to 65%?
3) In terms of the deposit. I would have 100k. He wouldn’t. Though he’s earning $165k a year gross. Could he borrow money short term to make up the difference? He obviously has the capacity to repay it. How do the banks view that though.
Thanks, all help welcome.