Ulster Bank Home Mover - Do I need a Deposit ? - Negative Equity Mortgage

dwalsh

Registered User
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Hi
this might sounds like a silly question.. but does anyone know with the UB Home mover negative equity mortgage with a LTV of up to 200% if you need a deposit on the new place you buy - trading up or trading down. Doesn't mention it on their website.

As a comparison, It looks like on the KBC site that if you go for the trade down mortgage you don't need a deposit. Comparing trade up and trade down on KBC site I only see only the trade up mentions a deposit.

Have a home in 30-40k negative equity and not much savings, so just exploring what options are for moving!

any thought welcome...

Thanks
 
just been through the process myself with AIB and I had to give a full deposit on the loan amount. We were trading up by 10k.
Another thing to watch out for is auctioneers fees. Normally they might get there fee from the positive equity on your house, but in neg equity you will be paying from your own pocket if that makes sense.
 
Thanks for all your feedback. If anyone has any specific experience with Ulster Bank on this topic I'd love to hear.
 
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