Working mam
Registered User
- Messages
- 40
this house is a fantastic price for the area (ex-rental and needs a lot of work.) if we wait for a potential write down we could slip further into NE and we may not get as good a deal on a house.
Working mam, please do post back here on the response you get from PTSB. This is exactly the scenario we put to them last year and they turned us down and even refused us permission to sell our house with such deep NE saying they would not release the title deeds!
Now, we are on the SVR not the tracker so this could be the difference but I will be extremely interested to see what they say either way.
Oh ,Brendan - "there'll be further great bargains to come ". Bit of property-price speculating there......
No, but the invitation to write a balanced summary of where house prices are is still open.Am I allowed to say that I doubt whether Dublin surburbia will produce quite as many bargains in the near future? Outside Dublin,maybe.
Not increasing our mortgage exposure i... seems unfair when we qualify to borrow a lot more on our salaries.
permanent tsb should jump at it. I don't know if they are doing negative equity mortgages yet.
But, I think you should wait. If permanent tsb sell off their trackers to some other state entity, the new owners might be more practical about doing a deal. You could sell your home and have the mortgage written down by 10% to 20%.
In fact, you should be proposing this to them now. They will refuse, but you lose nothing by trying.
Not increasing our mortgage exposure ... seems unfair when we qualify to borrow a lot more on our salaries.
What exactly does this mean? There are several risks for the bank.... and that NE is the bottom line risk for the bank.
Our ltv would be reduced by moving and also there is (in time) more chance of the NE lowering quicker on a house in the other area as historically it is a much higher value area.
I think we will have to agree to disagree but l am basing my opinions on fact.
What exactly does this mean? There are several risks for the bank.
That is an assumption based on a very short-term view rather than a fact. You have at best a biased observation (biased because a desire to invest hinders objectivity) based on x number of years which you are extrapolating into the future. Taking a longer term view, areas cycle between desirable and undesirable surprisingly frequently, there are no safe bets.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?