PTsb have sent out the criteria for buyers from abroad, listed below.
Applicants who are Irish or UK Citizens resident outside of the Republic of Ireland AND who are earning in excess of 100,000 Euro equivalent per annum (joint or sole basis) may be considered for BTL facilities, a maximum LTV of 60% applies.
Standard valuation & rental income confirmation requirements apply.
All qualifying applicants / properties will be required to comply with the standard 1.2 times RCR requirement.
All applicants will be required to provide acceptable proof of their compliance with the €100k minimum income requirement.
Income may be verified with reference to one or more of the following:
- Payslips (2 of most recent 3);
- Salary Certificate;
- Statement of Taxes (P60 equivalent or Tax Balancing Statements);
- Audited / Certified Accounts;
- 3 months Bank Statements showing minimum 3 salary credits at the required level;
- Balance of funds must be evidenced by way of a Bank/ Savings/ Investment statement.
In the normal course a Net Income / Lifestyle Expenditure assessment is not required. However it is acknowledged that circumstances may occur where the Underwriter will be satisfied to place some reliance on the applicants’ other unencumbered income (“Nets”) and may seek a HEF before decision.