I own a property in Dublin that i have rented. There is 160,000 euro equity in the house and it has been let for 5 years with the rent being in excess of the mortgage repayments (mortgage amount outstanding is 159,000). I am now living in another county and wish to buy a family home. My husband and I have jobs with a combined salary of 95,000 a year,and want to know would we get another mortgage without the need to sell the first home, and what amount would we be likely to get?
getting a second mortgage, first house is rented and has equity
- Thread starter sugal
- Start date
Brendan Burgess
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Have you a cheap tracker on the Dublin property? If so, you may be able to sell the property and retain the tracker with a slightly higher rate. That would be the best outcome.
If you are buying a family home, why not sell the Dublin property and buy a really good family home without a huge mortgage?
Brendan
If you are buying a family home, why not sell the Dublin property and buy a really good family home without a huge mortgage?
Brendan
thanks Brendan. Unfortunately i dont have a cheap tracker mortgage, and selling was my original plan when i moved first but due to some personal changes, keeping the dublin property makes sense so i want to keep it and get a mortgage for a property here and i am wondering what will the banks position on it be?