cousin_borat
Registered User
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Hi there,
Regular reader, havent posted many times.
I have a couple of questions about switching mortgages from one provider to another
Current Mortgage Situation
At the moment I have a joint mortgage with the ACC. Thjis was taken out for an investment property in Eastern Europe. This is doing fine and looking after itself.
At the moment I am paying interest only on the mortgage of 150k (Eur 570 per month). Currently the mortgage stands at around 140k since I paid some of the principle initially.
We used deeds of some of my parents land at home to guarantee this mortgage.
Plans for this year
I plan to purchase a house to renovate in Dublin 8/6 area later this year with my brother. We are looking at the range 800k - 1.0.
This has prompted me to think of changing mortgages to another provider.
Questions
By switching providers I would like to free up the deeds on my parents land and use another form of equity. Will this be possible?
Is my first time buyers mortgage gone seeing I invested in a property, albeit in a joint mortgage and am buying the new house with my brother who has a number of properties already?
Any recommendataions of which Mortgage providers currently offer the best value for a joint mortgage in the range 800 - 1.0? I have looked at other threads here and some good info for this so Questions 1 and 2 are more important.
Finally, does it make more sense for myself and brother to take a joint mortgage or for me to take a mortgage on 1/2 of the property?
Thanks and Happy New Year
Regular reader, havent posted many times.
I have a couple of questions about switching mortgages from one provider to another
Current Mortgage Situation
At the moment I have a joint mortgage with the ACC. Thjis was taken out for an investment property in Eastern Europe. This is doing fine and looking after itself.
At the moment I am paying interest only on the mortgage of 150k (Eur 570 per month). Currently the mortgage stands at around 140k since I paid some of the principle initially.
We used deeds of some of my parents land at home to guarantee this mortgage.
Plans for this year
I plan to purchase a house to renovate in Dublin 8/6 area later this year with my brother. We are looking at the range 800k - 1.0.
This has prompted me to think of changing mortgages to another provider.
Questions
By switching providers I would like to free up the deeds on my parents land and use another form of equity. Will this be possible?
Is my first time buyers mortgage gone seeing I invested in a property, albeit in a joint mortgage and am buying the new house with my brother who has a number of properties already?
Any recommendataions of which Mortgage providers currently offer the best value for a joint mortgage in the range 800 - 1.0? I have looked at other threads here and some good info for this so Questions 1 and 2 are more important.
Finally, does it make more sense for myself and brother to take a joint mortgage or for me to take a mortgage on 1/2 of the property?
Thanks and Happy New Year