No bank at the moment. We will more than likely be in a position to cover the investment property if we had no tenants, certainly for at least 6 months. It was purely a hypothetical situation but I was curious as to what would happen.
We approached a couple of banks to see if we would be able to get a second mortgage and they said that if we had a good saving record and a large deposit we would get a second mortgage (in the region of 220k). This was about 6 months ago so things have probably changed since then but we are currently saving €2,000 per month and hope to buy in 2012/2013 so hopefully we will have in the region of €50k/€60k for a deposit.