Remortgaging of Investment Property

V

vjoc

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Saw an advert is The Business Post offering investment property remortgaging at a tracker of ECB + .75% (max LTV 75%).

Stated no proof of income required / self certification.

Anybody know what financial institution is offering this?
 
It didn't say in the ad???

Sounds like a sub-prime lender, at prime rates.
 
Not sure who the specific ad was for - but Ulster Bank and First Active are offering a Tracker rate of ECB plus 0.75 (4.75) on LTV under 80% on investment property.
Also BOSI are offering the same rate if you are borrowing more then 400k.
ICS and BOI also offer this rate on loans over 500k.
 
dancarter said:
hardly at ECP + .75%

Any bank looking to asset lend at the moment must be off there game. at these prices anyway!!
Click to expand...


When I see 'no proof of income/self certify' I tend to think sub-prime.

Although I seem to recall that NIB allow for self-certofication of income.
 
Kathleen Abott is her name - used work with a crowd called 'classic mortgages' in cork before.

Had dealings with them before although never followed through in the end.
 
Advert said to contact Kathleen Abbott 087-7775533 alright.

Didn't fancy calling her myself, but I'm surprised at the rate quoted & wondered what bank it could be. If it sounds too good...
 
Could be a nominal rate where the APR is higher? Could be a time limited discounted tracker rate (a bit of a contradiction but they do exist) after which the margin increases? Could be a misprint? Could be a scam? A mobile number for such an offer wouldn't inspire my confidence.
 
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