We can help you secure the best value buy-to-let mortgage

Buy-to-let Mortgages

When investing your hard-earned cash in property, you will want to do everything you can to protect the yield. We can get you off to a good start – as mortgage brokers, we are not tied to any one institution, and can therefore ‘shop around’ on your behalf to find the best value buy-to-let mortgage for you.

Not every financial institution will lend to a buy-to-let borrower but we know which ones do, saving you time and improving your chances of being successful. Being a landlord can be demanding on your time; we take on the burden of administration in the process so that you can get on with other things, confident that your mortgage application is in safe hands.

Talk to our mortgage specialists today about securing a buy-to-let mortgage.

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"Never depend on single income investment to create second source" Warren Buffet

Mortgages for investors: need to know

The interest rates and fees for buy-to-let mortgages are typically higher than those of a standard residential mortgage and this can erode your potential yield. Using the services of an informed broker to help you find the best-value mortgage for your circumstances is therefore vital.

How much can I borrow?

Every lender must adhere to the Central Bank of Ireland lending criteria for buy-to-let buyers. They are currently as follows–

✓ Although Buy-to-let investors are exempt from Loan To Income (LTI) restrictions the lenders will review the overall financial status of the applicant for each BTL application. 

The projected rent expected versus the mortgage repayment will have a direct impact on the level of borrowings. These are complex calculations – please contact us for further details.

✓ Maximum borrowing is 70% of the house purchase price. This is also known as 70% loan to value (LTV).

Some lenders will only approve BTL mortgages for locations with a higher population only.  We can discuss this with each individual applicant.

Buy to let mortgages are available as:

  • Individual Buy to Let Investors
  • Company Buy to Let Investors
  • Pension (Unit Trusts) Investors

Minimum loan amounts apply. Terms, interest rates and lending criteria will differ depending on the investor category.  Please contact us for information on your specific proposal.

Getting organised

What do I need for a buy-to-let mortgage application?

You’ll need all the normal documentation required for any mortgage type:

  • Income documents – payslips / EDS if you are PAYE.
  • Six months’ bank statements for all current, savings and loan accounts held.
  • ID (passport or driving license) / address verification (utility bill or bank statement)
  • The address of new property including its eircode if applicable
  • The purchase price or value of the property
  • The year in which it was built
  • The type of property - its size and how many bedrooms it has
  • The mortgage amount and term required
  • The projected rental income based on previous or current market rates for the are
  • Details of any other existing properties and borrowings you may have

The cost of securing a buy to let mortgage

Bear in mind you will incur some expenses in the process. Please note, fees differ depending on the lender.  Please contact us for further details.

SYS charges a fee where you are buying a new home. This is payable when we submit your application to the chosen lender. The fee covers researching the market to find the most suitable lender for you, helping you prepare your application and looking after your application from the initial enquiry right through to submission. For more information on our fees, please review our Terms of Business. 

We recommend that you seek independent tax advice in relation to your potential investment property purchase. We work alongside tax consultants SYS Tax Ltd and would be happy to make an introduction.

Conveyancing fees payable to your solicitor and your lender’s legal fees, often a flat fee.

 Some buy to let lenders charge a percentage of the mortgage being applied for eg 0.5%, usually capped for an individual but not for a company.

A percentage of the purchase price of the new property is payable to Revenue (1% of the property value up to €1 million and 2% for anything above that).

In order to calculate the loan-to-value ratio, the lender will need an up-to-date valuation of the property you are buying. Each lender has its own panel of valuers. Expect to pay between €150 and €180.

Not an obligation unless the property is over 100 years old, or the valuer notes any potential structural issues in the valuation report. However, it is advisable to have a qualified person verify that the house is structurally sound before you progress with the purchase. Expect to pay from €300 upwards.

Get started! Let us help you secure a buy-to-let mortgage

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