Deposit for apartment

E

Edev1981

Registered User
Messages
8
Want to purchase an apartment for 95k . Have a deposit of 12k. First time buyer
Will any bank consider a deposit of 10% ??
 
Generally it depends on where the apartment is located.

When I was buying an apartment a couple of years ago, Bank of Ireland basically said that Dublin post codes with single digits would need 10% deposits, everywhere else would be 20% I think. This probably differs between banks and I'm not sure what the situation would be outside of Dublin.
 
What do you mean by 85% LTV so does that mean you might only require a depoist of 15%
 
Edev1981 said:
What do you mean by 85% LTV so does that mean you might only require a depoist of 15%
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Yes, exactly. But they can be picky about location.

It's up to each banks lending criteria, so you'd need to contact them and ask.
 
I was able to get a mortgage from KBC for a one bed apartment in Dublin with a 10% deposit as a first time buyer - all other banks required 20% deposit for one bed apartments - that was 3 years ago now though so things may have changed.
 
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