rogeroleary
Registered User
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I'm selling a share I have in a property which will realise c.105k.
At the same time my son has been looking to rent a 1 bed apartment in Dublin - can't get anything half decent for €900 a month which is the budget.
He has about 35k in savings but on a salary of about €32k will not be able to get a mortgage I would imagine.
So I was thinking about jointly buying an apartment / house that he could live in for say 240k and mortgage over 10 years (repayment would be around €1k per month paid by my son, I am now 55) and my son would have a 25% interest in the property?
Any thoughts / advice would be appreciated.
Roger
At the same time my son has been looking to rent a 1 bed apartment in Dublin - can't get anything half decent for €900 a month which is the budget.
He has about 35k in savings but on a salary of about €32k will not be able to get a mortgage I would imagine.
So I was thinking about jointly buying an apartment / house that he could live in for say 240k and mortgage over 10 years (repayment would be around €1k per month paid by my son, I am now 55) and my son would have a 25% interest in the property?
Any thoughts / advice would be appreciated.
Roger