We are currently living in Australia but coming home to 1 permanent job at Christmas. (yeeeahhh) I think the probation will be 6 months and will have a Salary circa 62k
I won't be working as we have 2 kids that aren't school age yet and know childcare would be crippling.
Anyway we have an apartment in Dublin on a tracker.
Mortgage is about €910. We currently have it rented out for 975€ monthly.
All other apartments in our block are €1200 minimum but we have fantastic tenants so don't want to increase rent on them unless we had to.
We have a mortgage of about €210,000, recently similar apartments seem to be selling for 150/160k
Since we ve been out in Australia we ve managed to save about €40k and plan to move in rent free with family to save heavily before looking for mortgage approval. Thinking we might be able to save about €1600 monthly
I know husband will have to see out his probation period successfully anyway.
Since the apartment is paying itself we really don't want to sell it and have to carry with us the neg equity plus the bank would obviously add extra interest to the tracker rate.
We re hoping to buy in the countryside as it's cheaper a house in or About €180k.
What's are chances of getting a mortgage for the new property?
Will we be encouraged to sell the apartment and bring with us the neg equity?
All advice greatly appreciated or any insights.
Looking forward to coming home but the whole thing has me stressed already on top of a big move!
Thanks everyone
I won't be working as we have 2 kids that aren't school age yet and know childcare would be crippling.
Anyway we have an apartment in Dublin on a tracker.
Mortgage is about €910. We currently have it rented out for 975€ monthly.
All other apartments in our block are €1200 minimum but we have fantastic tenants so don't want to increase rent on them unless we had to.
We have a mortgage of about €210,000, recently similar apartments seem to be selling for 150/160k
Since we ve been out in Australia we ve managed to save about €40k and plan to move in rent free with family to save heavily before looking for mortgage approval. Thinking we might be able to save about €1600 monthly
I know husband will have to see out his probation period successfully anyway.
Since the apartment is paying itself we really don't want to sell it and have to carry with us the neg equity plus the bank would obviously add extra interest to the tracker rate.
We re hoping to buy in the countryside as it's cheaper a house in or About €180k.
What's are chances of getting a mortgage for the new property?
Will we be encouraged to sell the apartment and bring with us the neg equity?
All advice greatly appreciated or any insights.
Looking forward to coming home but the whole thing has me stressed already on top of a big move!
Thanks everyone