I'd look at that very very carefully - in your position, I doubt I'd be inclined to invest in property. I suspect you're relying on capital appreciation to make money for you, and unless you know the northern market very well, I don't think you're in a good position.
Three major questions I'd be asking are:
(1) Is it worth losing my FTB status for stamp duty exemption / modified rate? If you plan to buy a PPR here when you're less anxious about market volatility, you may either be locked into new build, or it could cost you thousands in stamp duty.
(2) How are political developments in the North likely to affect my investment? [You may laugh, but if you're near a transitional area - which is where, by their nature, there's bigger potential for capital gain - this really could affect you if things don't go well. Also to be considered: who will you tenants be, and are there sectarian issues to consider in vetting?].
(3) What level of return am I looking for? Bear in mind that you don't get high returns without higher risk. If you need your capital to be safe, you may be better looking at high-interest deposits (yes, I know that's only around 4% p.a. net, but it's less hassle and your money is secure).
Other issues you would have to check are the taxation implications from any income in both UK and Ireland, exchange rate risk, where you can get your mortgage from, and what rental return is likely.
Buying in a market you don't know well, and landlording from afar, are not decisions that should be undertaken lightly. You'll need to do a lot more research than just posting here, I'm afraid!
