Hi
We’re moving house and need to make a 10% (€46k) downpayment on the new house. We used savings for the first €5k and, while we could fund the remainder of the downpayment from savings, we’d prefer not to as they are locked into long term arrangements.
The remainder of downpayment needs to be made in the next month. The house won’t be available to move into until April 2019 and we don’t plan to put our own place on the market until the new year. There is c.€130k equity in the current house which we will use to part-fund the new house.
I’m assuming this isn’t too unusual a situation and was wondering if banks (in our case PTSB) will fund the remainder of the downpayment? If so, does anyone have any idea of what costs PTSB charge.
Thanks in advance
Richard
We’re moving house and need to make a 10% (€46k) downpayment on the new house. We used savings for the first €5k and, while we could fund the remainder of the downpayment from savings, we’d prefer not to as they are locked into long term arrangements.
The remainder of downpayment needs to be made in the next month. The house won’t be available to move into until April 2019 and we don’t plan to put our own place on the market until the new year. There is c.€130k equity in the current house which we will use to part-fund the new house.
I’m assuming this isn’t too unusual a situation and was wondering if banks (in our case PTSB) will fund the remainder of the downpayment? If so, does anyone have any idea of what costs PTSB charge.
Thanks in advance
Richard