another mortgage??

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

You are already heavily exposed to property and have nearly €200,000 in negativity equity, why on earth are you thinking of buying another property.

Simple answer we currently live in 2 bed shoebox with 1 child & 1 on way. We need somewhere bigger.
We both bought our properties in the boom before we knew each other hence the excessive exposure.

Hi Ainef

You're far from alone in this position.

However, borrowing a further €280k is not really a runner on your income - you would end up with debts of roughly 7.5 times your household income.

Is there any possibility of porting the tracker on your current home?

Alternatively, you might need to rent somewhere more suitable for a while and build up your savings. I suspect your husband's rental property is killing you financially and it probably would make sense to get shot of that ASAP.

Whatever you do, run the figures and take your time.

Best of luck.

If you are going to sell anything you would have to look at how the figures would stack up if you were to dispose of your husbands property.
It has an SVR mortgage
It has a lower rental return.
Yes you have negative equity and it would destroy your savings for the moment.
On the positive side side you would be able to carry forward the loss should you ever be able to sell any of the other two at a profit in the future.
I would look at it that you have enough space at the moment and I would not be happy to advise you to take on more debt and more stress for just more space.
You might take up Sarenco's suggestion re porting the tracker and investigate the possibilities of doing this.
I am not a big fan of taking on too much debt which could ruin your life if anything goes wrong.