Niall

[amcdonald]

Guinness
Bushmills
Galwey Oysters
Irish Stew
Donegal Tweed
The Duke of Wellington
Terry Wogan
and, last but certainly not least...
they're not French

How could you leave out Father Ted

[Mich the Tester]

How could you leave out Father Ted

[PRC1964]

I thought this was going to be a thread about a special friend you've met on the Internet.

I thought it was going to be a post about the CUK Niall and his mad ramblings.

[OwlHoot]

Niall is 31 and manager of a successful fruit farm just outside Dublin. He is thinking of emigrating to England – not because he is out of work but because he is so heavily in debt that he wants to declare himself bankrupt. ..

Hang on, is this _the_ Niall? He of the soul searching diaries and blogs we once chortled over here ?

Anyone keeping up with his adventures? Fruit farm sounds just the kind of caper he'd get into.

edit: DOH! I see PRC1964 also just made the link

[AtW]

We don't have postcodes in Ireland. Except for inner Dublin and even then they are a bit random.

HTH

You don't have sense of humour either...

[MarillionFan]

That explains, thank you.

One more question - just how the f**k banks would lend 500k euros to someone on 25k salary to get into BTL?!?!

(Probably mentioned further in the thread but)

Salary has f**k all to do with lending criteria on BTL.

The criteria was based on the the rentable value of the property and it's ability to cover the mortgage interest repayments. I had 500k out on BTL loans on one point over three properties, all being serviced.

[AtW]

The criteria was based on the the rentable value of the property and it's ability to cover the mortgage interest repayments. I had 500k out on BTL loans on one point over three properties, all being serviced.

Retard - in this case why won't bank buy it outright or fund some massive BTL company to diversify the risk?

[MarillionFan]

Retard - in this case why won't bank buy it outright or fund some massive BTL company to diversify the risk?

Oh dear AtW. Oh dear.

That is the lending criteria for BTL, normally that the rent covers 125% of the interest payment on the amount lent.

So when this was true they lent the money. Now the market has the properties and owners are in negative equity. The rent is still covering the criteria in most cases(if you can rent it).

Has my 4 year old daughter been teaching you the basics of economics again this morning?

[cailin maith]

You don't have sense of humour either...

And you are a bit of an ejit sometimes

[AtW]

And you are a bit of an ejit sometimes