M
megamk
Guest
Hi everyone, I am a newbie here and have been searching around for a post that may have already answered this but have not found one so here goes, apologies if it is and please post me the link to where it is.
Advice and guidance I need is : -
Property
- Have a family home occupied through a tenant in Ireland.
- There is no outstanding debts on this property, it is a new build ( 2 years old ).
- Rental income is steady, social welfare.
- Was my fathers property built as investment but he passed away suddenly last year
Advice
- Property will no sell in the current Irish housing climate, especially in the North West of Ireland where things are particularly bleak.
- Money that is in this property is needed by my mother to purchase a property in the UK, she is currently renting.
- Mother is about to retire so needs a home outright in the UK, only available money is in this property.
- Have asked in a leading Irish bank and a leading UK bank about sourcing money from this property for a UK purchase. Both will not deal with it as seperate countries
Not sure where to go now or if there other options of releasing funds ?.. rental income is virtually guaranteed but that only covers rent expense in the UK so a bit of a catch 22
Any advice or options greatly appreciated,
Thanks a mill.
Advice and guidance I need is : -
Property
- Have a family home occupied through a tenant in Ireland.
- There is no outstanding debts on this property, it is a new build ( 2 years old ).
- Rental income is steady, social welfare.
- Was my fathers property built as investment but he passed away suddenly last year
Advice
- Property will no sell in the current Irish housing climate, especially in the North West of Ireland where things are particularly bleak.
- Money that is in this property is needed by my mother to purchase a property in the UK, she is currently renting.
- Mother is about to retire so needs a home outright in the UK, only available money is in this property.
- Have asked in a leading Irish bank and a leading UK bank about sourcing money from this property for a UK purchase. Both will not deal with it as seperate countries
Not sure where to go now or if there other options of releasing funds ?.. rental income is virtually guaranteed but that only covers rent expense in the UK so a bit of a catch 22
Any advice or options greatly appreciated,
Thanks a mill.