Interest only mortgage for rental property?

S

shesells

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At the moment we have two mortgages with KBC...one (rented property) was Interest Only but that term has just ended. The other one (PPR) is standard variable. Neither property is in negative equity.

KBC aren't renewing interest only option for rented units, so we now are looking at moving that mortgage...and possibly the other one too. Is a broker our best option to try to do this?
 
I had a similar problem and the Irish Mortgage Corporation on Lr Baggot Street (01 6691000) were very helpful and got a mortgage for me from Haven. The only problem is that the repayements increased significantly as the new mortgage is now tied into the banks internal eurobor rate.
 
Hi Wino.
Can you tell me what rate you have to pay on this type of mortgage and had you much difficulty getting it on the rental property.
 
Hi Rasher,

the variable rate is a criminal 4.89 interest only for the full term of the loan. Nobody else would give it to me in 2008. I doubt if I could get it now!
 
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