deebouchie
New member
So there’s a derelict house in a town down the country that I’m looking at .. could probably pick it up for €120k
Would need another €100k to make it liveable.
My question is on the 70k derelict home grant.. do banks take that into account when you go for a mortgage?
My understanding is that you have to spend the 70k first and claim it back..
Are they two separate loans I’d need?
I.e
1) Buy the property (let’s say €100k loan)
2) Refurb works (€100k loan) - the hope would be that a 70k lump sum can be paid down once received from the authorities
Would need another €100k to make it liveable.
My question is on the 70k derelict home grant.. do banks take that into account when you go for a mortgage?
My understanding is that you have to spend the 70k first and claim it back..
Are they two separate loans I’d need?
I.e
1) Buy the property (let’s say €100k loan)
2) Refurb works (€100k loan) - the hope would be that a 70k lump sum can be paid down once received from the authorities