Buying a second house

dino

Registered User
Messages
157
Hi,
I'm thinking of buying a new or secondhand house and I'm trying to work out if it's a good idea to keep my existing property. I bought a house 2 years ago. I owe about 165K on it and it's worth about 285K. I'm looking into releasing equity from my house to use as a deposit for the next house. I may go interest only on one. Somebody mentioned to me that some mortgage companies may give me a 100% mortgage against the strength of my existing property. Does anyone know if this is possible.
I have looked into the stamp duty clawback and I will have to pay about 5K.
Any advise greatly appreciated.

Dino...
 
Can you clarify which properties are investment properties in the context of this query please and which is your PPR? Have you seen this thread?
 
Hi Club,
I will be changing my PPR to an investment property and making the new house my PPR. To do this I will have to pay a SD clawback of €5500.
Is it possible to get a 100% mortgage on a second property or will I have to release equity. If I owe €165K on my PPR and it's worth approx €285K, how much equity would I be able to release?
 
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