I did start a thread on this before and moderator please feel free to move.
I
am re-posting this here with updated info and respectfully hope I can again get advice; Thank you in advance.
We are fortunate and thankful to have a place of our own and to have cash in hand too. But we badly want to move now, expanding family etc.
We sown & live in a 3 Bed Duplex Apartment; Value E110K
We have a KBC Tracker Mortgage; E128k owing.
(Negative Equity c E18k)
Current mortgage monthly repayment is; E760
Estate agent estimate monthly rent attainable if apt rented; E850-E900
We have cash on hand; E237k
New House cost (We really wanna buy this house!); E395K
Loan required (if keeping apt); E158k
Loan required (if NE carried due to sale of apt.); E176k
Q's?
Should we sell the apartment and take the hit?
Would KBC allow us to sell it?
Could we keep our tracker and move it to new home?
Will we lose our tracker?
Can we get a NE 'trade up' mortgage?
Should we stay with KBC?
Not sure what to do! Hold out etc.
What would be the best option for us?
Any advice much appreciated and thanks in advance.
Regard's,
DM
I
am re-posting this here with updated info and respectfully hope I can again get advice; Thank you in advance.
We are fortunate and thankful to have a place of our own and to have cash in hand too. But we badly want to move now, expanding family etc.
We sown & live in a 3 Bed Duplex Apartment; Value E110K
We have a KBC Tracker Mortgage; E128k owing.
(Negative Equity c E18k)
Current mortgage monthly repayment is; E760
Estate agent estimate monthly rent attainable if apt rented; E850-E900
We have cash on hand; E237k
New House cost (We really wanna buy this house!); E395K
Loan required (if keeping apt); E158k
Loan required (if NE carried due to sale of apt.); E176k
Q's?
Should we sell the apartment and take the hit?
Would KBC allow us to sell it?
Could we keep our tracker and move it to new home?
Will we lose our tracker?
Can we get a NE 'trade up' mortgage?
Should we stay with KBC?
Not sure what to do! Hold out etc.
What would be the best option for us?
Any advice much appreciated and thanks in advance.
Regard's,
DM