Buy to Let
Buy to Let

Buy To Let

When you decide to purchase a buy to let property, it is important to do your homework, you need to ask yourself this question “What returns can I get on my investment?”. Buy to let purchases can offer long term value and offer a good return every year if you do your homework and work out precisely if it is the right investment for you.

Buy to Let – Things to consider when buying an investment property:

  • Type of property
  • Location & Population
  • Industries in the area (this could provide you with possible tenants)
  • Maintenance, legal, estate agents costs
  • Insurance (building and mortgage protection insurance)
  • Expected Rental Income
  • Taxable rental income

Talk to auctioneers in the area and get a feel for the type of tenants (i.e. families, professionals, couples, individuals etc) and how much rent that you can expect to get.

Once you have done your homework and you are satisfied that you can make a good return on your buy to let property, the next step is to arrange the mortgage approval, again it is important to do your homework to ensure that you receive the best possible deal to suit your exact requirements. Our panel of independent advisors will work with you to secure mortgage approval and ensure that your get the best mortgage deal to suit your requirements.

Mortgage Protection Insurance, some Irish banks do not insist on mortgage protection when purchasing an investment property, but financial planner would always recommend that you take out mortgage protection insurance as this would pay off any mortgage debt in the event of death occurring. Then the investment property in question would become debt free for your family which would offer them an income for the future. Using Financial Planner online insurance quotation and application systems you can avail of a quotation and apply for cover in minutes.

How the Mortgage Process works:

The mortgage process involves quiet a lot of documentation and we have set out below the different stages involved from arranging mortgage approval to closing your mortgage.

Stage 1
Stage 2
Stage 3
Stage 4
Stage 5
Stage 6

Make an Appointment

It is important to sit down or discuss with one of our Advisors your requirements.  They will need you to provide or confirm a number of details in order for them to assess your case accurately. Once the Advisor has checked that you meet the criteria the next stage is t submit an application for approval to the chosen bank.

Application Submitted to Lender

In order to submit an application to the lender, you must meet their documentation requirements and in this regard we have provided a checklist of the required documentation along with the necessary application forms, declaration etc.  The Advisor will then review all documentation, put together a lending report and submit your case for approval to the lender.

Approval in Principle

Once the lender has underwritten your application and they are satisfied it meets with their criteria they will issue Approval in Principle, which will include conditions of approval.  This will then allow you to secure your property, once the property is secured we will then have to arrange a valuation to be done on the property and sent to the lender.  Once all Approval in Principle conditions are meet the bank will then move your application to the next stage which is Loan Offer.

Loan Offer

The bank will issue the loan offer along with a legal pack to your solicitor, you must contact your solicitor to arrange time to meet to sign contracts and other legal documentation.

Arrange Insurance

The next stage of the mortgage process is to arrange mortgage protection and home insurance. At this stage we will contact you to arrange quotations.

Mortgage Closing

The final part of the mortgage process is to ensure that all conditions set by the bank have been met. Your solicitor will have returned the documentations to the lender for final sign-off. Once the lender is satisfied that all conditions of approval have been met by you, they will release the cheque to your solicitor to complete the buying process for your new home.

Peace of mind is a call away

With our trusted friendly staff, easy paperwork, and a quick response for your Buy to Let Mortgage option in all 26 counties of Ireland; we will guarantee that you will be walking away with a smile on your face after dealing with us.

or call us on +353 1 627 9495

Our walk in office provides access to qualified mortgage brokers covering mortgages in all 26 counties of Ireland.

Get Moving with Ireland Mortgages

We will endeavour to secure the best mortgage deal for you