Step-by-Step Guide: How to Get an Investment Property Mortgage in Ireland (Using an SPV)

Purchasing an investment property in Ireland through a Special Purpose Vehicle (SPV) has become a preferred strategy for many landlords who wish to structure their portfolio efficiently, borrow through a company and optimise long-term tax planning. While the SPV approach is extremely popular, the actual process of forming the company, preparing it for lending and securing the mortgage can feel complicated — especially if you’re doing it for the first time.

This comprehensive guide from Money Maximising Advisors breaks the entire process down into simple, practical steps. By the end, you’ll have a complete understanding of how to set up the SPV, how lenders assess applications, what documents are needed, how to secure competitive mortgage terms and how to manage the property once the company is up and running.

1. Understanding What an SPV Is

A Special Purpose Vehicle (SPV) is a limited company created specifically for holding and managing property. In the Irish context, it is usually a private limited company with a very narrow purpose — to buy, own and let property.

It differs from a normal trading company in several ways:

• It does not trade in goods or services

• Its constitution specifies property investment as its only activity

• All financial transactions relate to the property portfolio

• Lenders prefer SPVs because they are easier to underwrite

Using an SPV ensures clear separation between your personal finances and your investment activities. It also offers a structured way to build a portfolio without mingling personal income, expenses or liabilities with your property business.

2. Why Investors Use an SPV for Buy-to-Let Properties

Before you begin the SPV setup process, it helps to understand why Irish investors increasingly prefer this structure. Some of the most common reasons include:

2.1 Cleaner Financial Separation

When properties are held in your own name, your rental income and personal income appear together on your annual tax return. With an SPV, the company is treated as a separate legal and financial entity, making accounting, borrowing and planning far more streamlined.

2.2 Professional Image for Lenders and Tenants

Banks often prefer lending to SPVs because their financial activity is predictable. Tenants and letting agents also frequently prefer dealing with a company, especially for multi-unit properties.

2.3 Potential Tax Planning Advantages

While tax rules depend on your personal situation, many landlords prefer company ownership because:

• Profits can be retained in the company

• Reinvested profits may be more tax-efficient

• The structure can be beneficial for long-term portfolio building

2.4 Succession and Inheritance Flexibility

Passing shares in a company can, in some cases, be more straightforward than transferring property held personally. Families building long-term portfolios often prefer the SPV structure for this reason.

2.5 Clear Creditworthiness for Future Borrowing

A well-run SPV builds its own financial profile, making it easier to secure future mortgages as the company grows.

3. Step-by-Step SPV Setup Process

Setting up an SPV in Ireland is relatively simple. You can do it yourself or have it arranged by an accountant or adviser. The process typically involves the following steps:

3.1 Choosing the Company Name

Most lenders prefer simple, neutral names when assessing SPV mortgages. Avoid names suggesting unrelated trading activities.

3.2 Registering with the Companies Registration Office (CRO)

To register the company, you will need:

• A unique name

• Director details

• A registered address

• A company secretary

• A company constitution (stating the business purpose is property investment only)

3.3 Opening the SPV Bank Account

Every transaction relating to the property must go through the SPV. Opening this account early makes the mortgage process easier.

3.4 Preparing the Company Constitution

This document should clearly state that the company exists solely to acquire, own and manage rental property. Lenders take this seriously — unclear constitutions may cause delays or rejections.

3.5 Appointing Directors and Shareholders

Most SPVs have one or two directors. Lenders assess the directors’ personal financial backgrounds, so choose appropriately.

4. Preparing the SPV for a Mortgage Application

Once the SPV is registered, you need to prepare it for borrowing. A lender will expect your company to be:

• Clean (no trading activity unrelated to property)

• Transparent (clear documentation)

• Organised (bank account, records and structure ready)

You will need:

4.1 A Business Bank Account

This is essential for receiving rent, paying expenses and proving financial discipline.

4.2 Director Information

Lenders assess directors in the same way they assess individual borrowers:

• Credit history

• Employment status

• Income stability

4.3 A Basic Business Plan

You do not need anything overly complex. Lenders simply want to see:

• Expected rental income

• Operating costs

• Mortgage repayment projections

• Long-term plan for the property

4.4 A Deposit Ready to Go

Typically 25%–40% is required. A higher deposit often unlocks better rates and smoother approval.

5. Understanding SPV Mortgage Eligibility in Ireland

Eligibility for an SPV mortgage is based on several criteria. Here’s how lenders tend to evaluate applications:

5.1 Deposit Requirement

SPVs often require larger deposits than personal buy-to-lets, as company lending carries slightly more risk in the eyes of the lender.

5.2 Rental Income Stress Tests

Lenders ensure that the projected rent comfortably covers the mortgage payments. This includes:

• Mortgage interest

• A buffer for maintenance

• A stress-tested rate higher than the actual rate

5.3 Property Type and Condition

Lenders prefer properties that are:

• Easy to let

• In desirable areas

• Structurally sound

• Compliant with rental regulations

5.4 Director Guarantees

Even though the mortgage is taken out by the company, most lenders require directors to provide personal guarantees. This means the directors are responsible if the company fails to meet repayments.

6. Documents Required for an SPV Mortgage

To avoid delays, prepare the following:

• Company incorporation documents

• SPV constitution

• Director IDs and proof of address

• Director financial statements

• Company bank statements

• Evidence of deposit

• Property details and valuation

• Tenancy or rental projections

• Accountant’s letter (if requested)

The more comprehensive your documentation, the quicker the approval tends to be.

7. The Mortgage Application Process

SPV mortgages are more specialised than standard residential mortgages. This means fewer lenders offer them — and those that do have strict criteria.

Money Maximising Advisors help with:

• Matching your SPV with the right lender

• Preparing your application

• Ensuring documents meet underwriting standards

• Negotiating rates

• Guiding you through approval to drawdown

The typical process includes:

1. Initial assessment

2. Submission of documents

3. Property valuation

4. Underwriter review

5. Loan offer

6. Legal completion

This process usually takes 4–12 weeks.

8. Completing the Purchase Through the SPV

Once approved:

8.1 Solicitor Steps In

Your solicitor completes the transaction on behalf of the company, including reviewing contracts and arranging searches.

8.2 Lender Registers a Charge

This secures the mortgage against the property.

8.3 Property Becomes a Company Asset

Rent, expenses and repayments must all go through the company.

8.4 Accounting and Compliance Begin

The SPV must:

• File annual returns

• Maintain accurate rental accounts

• Comply with tax obligations

9. Tax and Financial Considerations for SPVs

While an SPV can offer several planning advantages, tax implications depend on your personal situation.

Key points include:

9.1 Rental Income Taxation

Rental profits inside the company are taxed differently than personal rental income. Many investors prefer retaining profits in the company for reinvestment.

9.2 Capital Gains Treatment

If the company later sells the property, gains belong to the company and are taxed accordingly. Extracting profits from the company triggers personal tax.

9.3 Dividend or Salary Withdrawal

How you take money out of the company affects tax. Some landlords take:

• Modest salaries

• Dividends

• Directors’ loans repayments (in some cases)

9.4 Multi-Property Portfolios

An SPV structure is particularly beneficial if you intend to build a portfolio, as profits can be reused internally without personal tax on every step.

Money Maximising Advisors always recommend seeking tax advice tailored to your circumstances.

10. Tips to Improve Mortgage Approval Odds

• Keep the SPV clean with no unrelated business activity

• Maintain good personal credit

• Present realistic rental projections

• Offer a higher deposit if rates appear high

• Work with advisers familiar with company buy-to-let lending

• Choose properties that are easy to rent and manage

A well-organised SPV gives lenders confidence.

FAQs

1. Can a first-time investor use an SPV?

Yes, many first-time landlords choose an SPV if they plan to build a portfolio.

2. Are SPV mortgage rates higher?

They can be slightly higher, but a strong application and good deposit help secure competitive pricing.

3. Do all lenders accept SPVs?

No — only selected lenders provide mortgages to companies, which is why using a broker is essential.

4. Can I transfer an existing rental into an SPV?

Yes, but it may involve stamp duty, legal fees and tax implications. Seek professional advice first.

5. Is running an SPV expensive?

Costs include accounting, CRO filing and compliance, but for growing portfolios it is generally manageable and worthwhile.

Conclusion

Investing in Irish property through an SPV has become one of the most strategic ways to build long-term wealth, reduce administrative complications, and create a professional foundation for future portfolio growth. While the process may feel complex at first—setting up the company, ensuring eligibility, gathering documents, comparing lenders, and managing ongoing compliance—the advantages are clear for investors who want structure, scalability, and financial clarity.

By following the step-by-step approach outlined in this guide, you can confidently navigate the SPV mortgage process and avoid the expensive mistakes many new investors make. And with expert support from Money Maximising Advisors, you don’t have to figure it out alone. Our team ensures your SPV is set up correctly, your mortgage application is fully aligned with lender requirements, and your investment strategy is designed for long-term success.

Whether you’re buying your first rental property or expanding an existing portfolio, partnering with specialists makes all the difference. When you’re ready to take the next step, we’re here to guide you through every stage—from company formation to mortgage approval and beyond.