Butterflygirl83
Registered User
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I know this probably sounds like a ridiculous question but someone may be able to help clarify it for me!
So I want to borrow 135k mortgage from the bank. I am a second time buyer so I will need the 20% deposit requirement. Is the amount I am applying for (135k), the banks 80% and I need to provide 20% of 135k to make up the full 100%? This would amount to a €27k deposit on 135k. So my total going forward to purchase the new property would be €162k?
Or
I am I getting up the 20% deposit of 135k and subtracting that amount from the total the bank are giving me, leaving me to repay €108k of a mortgage?
Thanks.
So I want to borrow 135k mortgage from the bank. I am a second time buyer so I will need the 20% deposit requirement. Is the amount I am applying for (135k), the banks 80% and I need to provide 20% of 135k to make up the full 100%? This would amount to a €27k deposit on 135k. So my total going forward to purchase the new property would be €162k?
Or
I am I getting up the 20% deposit of 135k and subtracting that amount from the total the bank are giving me, leaving me to repay €108k of a mortgage?
Thanks.
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