Hi,
we currently owe bank 300k (two trackers and one standard variable) on two properties, family home and apartment.
The apartment (south city centre) is now probably worth 120k (bought for 170k while family home(bought for 190k is worth 250k ( based on house that sold three doors down less 40k) .
Our joint income is 120kwith savings of 180k. We were offered a mortgage of 500k 6 months ago on condition we sell family home. (keep apartment). I thought this was quite low (in the financial sense of the word
Anyway,We would like to keep family home and apartment (rent both). will any bank allow this and if so, will they insist we give up our tracker?
Any advice would be helpful. Our jobs are secure (one civil service) Are banks just giving 4 times income full stop.
we currently owe bank 300k (two trackers and one standard variable) on two properties, family home and apartment.
The apartment (south city centre) is now probably worth 120k (bought for 170k while family home(bought for 190k is worth 250k ( based on house that sold three doors down less 40k) .
Our joint income is 120kwith savings of 180k. We were offered a mortgage of 500k 6 months ago on condition we sell family home. (keep apartment). I thought this was quite low (in the financial sense of the word
Anyway,We would like to keep family home and apartment (rent both). will any bank allow this and if so, will they insist we give up our tracker?
Any advice would be helpful. Our jobs are secure (one civil service) Are banks just giving 4 times income full stop.