Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Brother giving deposit but not on mortgage

  • 13-08-2020 6:41pm
    #1
    edenbridge146
    Registered Users, Registered Users 2 Posts: 153 ✭✭


    Hi folks

    Myself & Brother are buying a BTL house
    He will come up with the 30% deposit required

    Is it possible that the mortgage is in my name only, and him providing the deposit
    Or will banks want to see us both applying on mortgage


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,761 ✭✭✭✭Atlantic Dawn
    M


    Do you qualify for the mortgage amount based on your earnings alone?


  • #3
    L1011
    Registered Users, Registered Users 2 Posts: 71,186 ✭✭✭✭L1011


    He would have to gift you the deposit, write a statement saying that he has done so and disclaim any rights to the house to satisfy normal lending rules. Otherwise he has to be on the mortgage and hence meet lending requirements.

    Depending on how high the deposit is, a gift could result in a CAT liability.


  • #4
    edenbridge146
    Registered Users, Registered Users 2 Posts: 153 ✭✭edenbridge146


    Atlantic Dawn wrote: »
    Do you qualify for the mortgage amount based on your earnings alone?

    Yes i qualify with my earnings - but he will have to finance the deposit part


  • #5
    Graham
    Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Mod Note

    thread temporarily closed for review

    edenbridge146 do not start any more threads in the mean time.


  • #6
    L1011
    Registered Users, Registered Users 2 Posts: 71,186 ✭✭✭✭L1011


    I missed who posted this thread. Stop posting these shaggy dog stories when you come back from your ban


  • Advertisement
This discussion has been closed.
Advertisement