Looking for some advice...
Myself & husband are looking to buy a larger PPR.
At the moment we own 3 properties, I own 2 & he owns one. We currently live in one in my name. Outstanding mortgage 270k value 250k has a tracker mortgage.
We have 2 rental properties, mine has outstanding loan of 305k value about 200k €1250 month rent also on a tracker.
His has outstanding loan of 270k and value about 200k €1150 month rent on a SVR.
So we currently owe €845k approx with an actual value of €650.
We have joint income of €150k both permanent jobs.
We are looking at a new house for €340k we have savings of 60k so new mortgage of 280k.
So after long winded situation we are wondering what is our best option. Apply for another mortgage now or sell our current home with a loss of 20k approx & then apply for a mortgage? Or do we have any chance of even getting another mortgage.
Thanks
Myself & husband are looking to buy a larger PPR.
At the moment we own 3 properties, I own 2 & he owns one. We currently live in one in my name. Outstanding mortgage 270k value 250k has a tracker mortgage.
We have 2 rental properties, mine has outstanding loan of 305k value about 200k €1250 month rent also on a tracker.
His has outstanding loan of 270k and value about 200k €1150 month rent on a SVR.
So we currently owe €845k approx with an actual value of €650.
We have joint income of €150k both permanent jobs.
We are looking at a new house for €340k we have savings of 60k so new mortgage of 280k.
So after long winded situation we are wondering what is our best option. Apply for another mortgage now or sell our current home with a loss of 20k approx & then apply for a mortgage? Or do we have any chance of even getting another mortgage.
Thanks