Buying a second property - New mortgage

Hi,

I wonder can anyone advise me if the following is possible.

I bought a house over a year ago for 173 K. I now want to rent out this house (The going price of renting a similar house in the area should cover my mortgage repayments ) and buy another secondhand property with my girlfriend.

I earn €30,000 per year and my girlfriend earns €22,500

She would be a first time buyer.

My questions are:

In a joint mortgage application would we qualify for a 100% mortgage seeing as she is a first time buyer ?

Would already owning a house and having a mortgage stand against me when applying for the second mortgage ?

What kind of mortgage could we get based on the salarys given ?

Thanks for any advice received !

Check out the stamp duty impacts - if you availed of the FTB stamp-duty exemption when you purchased the first house, you will be liable for a clawback on this. You are aware that your rental income is taxable, though mortgage interest & other expenses will reduce your tax bill - right? Don't go just on the cash figures for rent/mortgage. Can you handle 2 vacant months each year?

If you are keeping on to your first house and renting it out..you should convert your original mortgage to an interest only mortgage..so you would have extra income from renting..
you could also top up this mortgage to current market value if you needed the extra cash for your new house..
Tell the institutions that you want a 100% mortgage and if not you will go else where, always remember that the banks are dying to give out mortgages and they are not "doing you a favour" by giving you one...play hardball, don't accept "not possible" as banks can bend the rules if they want..nothing is written in stone.