2nd House

Hi,

How long do I have to wait to buy a 2nd house?

I have heard people say 3 years after your first property, but is it possible to get a 2nd mortgage, but Interest Only?

It is just I have a lump some of cash and was wondering if I could use this as a deposit...

Just thought I would ask as I am unsure,

Thanks,

r0nn13

There is no timesecale to buying a second house - only lending criteria (and personal preferences of course!) dictate how much you can borrow and therefore may restrict you from going to the market again.

Sarah

www.rea.ie

http://www.askaboutmoney.com/showthread.php?t=45301

Why don't you buy this one,i'm sure they will do you a deal,then you'll both be happy !

thewatcher said:

http://www.askaboutmoney.com/showthread.php?t=45301

Why don't you buy this one,i'm sure they will do you a deal,then you'll both be happy !

Click to expand...

Im not sure how an apartment in Galway would be of benefit to someone who lives in Swords in Co Dublin!....but you never know.

What is your motive for buying a second house? Have a look at [broken link removed]forum for some sceptical commentary on the state of the residental property market in Ireland.

thewatcher said:

http://www.askaboutmoney.com/showthread.php?t=45301

Why don't you buy this one,i'm sure they will do you a deal,then you'll both be happy !

Click to expand...

This is OT but I don't think that this is particularly constructive. Don't get me wrong I am very much in the bear camp when it comes to property but there seems to be alot of snide comments wrt property from the bears on this site.

I think that it would be much better if the OP was given some useful information such as the pros and cons of investing in property. However as it stands we know nothing of the OPs situation - perhaps they already have a very diversified portfolio and want to get exposure to property. Who knows without asking some questions first

No wonder Brendan & Co shut down the Public Setiment tread...

@OP I suggest you do a bit of reading & research http://en.wikipedia.org/wiki/Irish_housing_bubble is a good start, but it is not neutral. Have a listen to [broken link removed] just make sure you get a balanced view point.