Hi,
I am enquiring about people's experiences of buy to let equity release type mortgages and if they are available in Ireland.
Situation would be rented house (mortgage free) value 280k. Rented to a family member at market value for the long term.
Primary residence, mortgage of 190k and value of 600k.
I do not currently have the % deposit for another buy to let but keen to explore equity release in either or both properties to secure buy to let mortgage. Would a bank accept a lower deposit (for example 10%) in combination with equity release?
Fully understand the risks and pitfalls with being a landlord but something I am keen to explore.
Thanks in advance.
I am enquiring about people's experiences of buy to let equity release type mortgages and if they are available in Ireland.
Situation would be rented house (mortgage free) value 280k. Rented to a family member at market value for the long term.
Primary residence, mortgage of 190k and value of 600k.
I do not currently have the % deposit for another buy to let but keen to explore equity release in either or both properties to secure buy to let mortgage. Would a bank accept a lower deposit (for example 10%) in combination with equity release?
Fully understand the risks and pitfalls with being a landlord but something I am keen to explore.
Thanks in advance.