What is banks attitude if want to buy and keep neg eq property

blueskies

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Myself and partner have an apartment each,neither bought as investment properties but which are turning into them as negative equity prohibits sale.the negative equity isn't that large about 20000 in each and we are thinking of waiting until the neg equity is gone and then buy our family home.each property has excellent rental potential with rent covering capital and interest and I feel that they would be fantastic as a long term investment.we are currently living in the second apartment but as our family is currently expanding we will need more space but could hold on for a few years.what are the banks criterion if you want to hold on to investment properties and buy another
 
I know someone with an apartment in negative equity which is rented out. Rent covers the mortgage. He is on a large income. I would guess a joint income of €120k between the two. He was very surprised by how low a mortgage the bank were willing to offer him due to the apartment despite him not considering it a financial burden.
I don't know anymore facts but I would gather from it that banks may allow you to take out another mortgage but that the equity in (or not in) your other properties will be considered a factor in working out your ability to repay.
 
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