Mortgage for UK Property

D

dave_mc25

Guest
Hi,
I am thinking of buying a buy to let property in the UK.
Will an Irish bank give me a mortgage on a property in the UK?
How about Bank of Scotland Ireland, who do business there?
Is there any advantage between bank here or there?
thanks
dave
 
NIB gave us a mortgage on a buy-to-let in Northern Ireland last year. We took the mortgage in euros. The advantage at the time was that the ECB rates were a good bit cheaper than the UK interest rates, and still are cheaper. However there is an added risk with currency exchange rate, so that could be a potential down side. NIB told us at the time they were doing it as a one-off for us, but I don't think we're that special, so I'm sure they must do it fairly regularly. It might be worth your while to contact a good broker to find out which banks do this, as that's how we were put in contact with NIB.
 
I deal with CHL they charge an arrangment fee of 1.5% of mortgage amount however they will loan 85% of the value of the property and the rate it get is .49% over the uk base rate which at the moment is 5.24%. iib, rbs are charging about 1.5% over the base rate.
Hope this will help
 
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