Stamp duty and Mortgages

S

sburs

Registered User
Messages
19
Hello All.
My partner and I are currently looking at an investment property in cork. We are both seperate homeowners but cashflow isn't the best at the moment. I'm not very well informed on mortgages and was just wondering whether financial institutions were willing to include the cost of stamp duty in the borrowed amount? It would be a 100% mortgage..
regards
 
sburs said:
Hello All.
My partner and I are currently looking at an investment property in cork. We are both seperate homeowners but cashflow isn't the best at the moment. I'm not very well informed on mortgages and was just wondering whether financial institutions were willing to include the cost of stamp duty in the borrowed amount? It would be a 100% mortgage..
regards
Click to expand...

In such a scenario what on earth makes you think that a property investment is a wise choice?
 
sburs said:
I'm not very well informed on mortgages.... .....cashflow isn't the best at the moment.
Click to expand...
If so, are you sure an investment property is the right move for you?

Do you understand the requirements to register with the PRTB if letting? Have you investigated your yield given 10 months/year rented? Have you looked at returns given possible future interest rises (stress testing)? Have you considered what maintenence may be needed on the property (a problem if a strain on cash flow)?

Re the stamp duty, no. The amount is secured on the value of the house so costs such as stamp duty aren't included in the loanable amount (it's 100% of the house value, not of the buying costs [house value + solicitiors fees + SD etc.]).
 
You must log in or register to reply here.
Back
Top