Deposit

eoin

Registered User
Messages
22
hi

Just a quick one currently building a house and if I wished to purchase an apartment could I use my new build as the deposit?

Didn’t want to secure the house entirely against the apartment but only the deposit required to purchase.

Thanks
 

mf1

Frequent Poster
Messages
4,220
Do you mean get a mortgage secured on both the house and the apartment?

Its helpful if you show figures?

e.g. Apartment price: €300,000.00
Fees and stamp duty : €6,000.00
Total: €306,000.00

Deposit :€30,000.00

Funded by cash?
Mortgage?
How much?
Secured on what?

mf
 

eoin

Registered User
Messages
22
Hi thanks for reply

House will most likely have a mortgage of approx 10% loan to value somewhere in the region of 60k. Didn’t want to borrow fully against the house just put the deposit against it if this is feasible. Approx 50k against a 250k apartment with deposit amount of 20%
 
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