jonronan73
New Member
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Per week? Month? Annum?Net rent received of 790 after estate agents fees
The apartment itself or the common areas or both?Apartment is now giving problems with pipes corroding
Yes, outrageously, the lender expects the money that was borrowed to be paid back.but reckon the bank won't allow it and will want the mortgage 1/2 that is parked to be redeemed.
So you could sell now and clear c. €39k?Bought 2 bed for 248k in 2006.
Bank parked 102k at 0%
Balance of other half is 89k
...
Current value is approx 230k
It's a weighted interest rate of 2%. If you give this up you will never get a rate like this ever again.Bank parked 102k at 0%
Balance of other half is 89k, paying 4.25% variable or circa 545 p/m
It looks like a gross yield of about 5%. That's pretty poor for an apartment in Galway. I assume you are unable to raise the rent more than 2% pa.Net rent received of 790 after estate agents fees
So there isn't a single review of the warehouse loan in the 20 year period?bearing in mind the 102k will need to be paid in 20 years time
It could triple in value and prove a great investment even despite the spending on repairs. I'm not speculating on house prices but over a twenty-year horizon there is a wide range of possible outcomes and this is one of them.if the apartment is falling apart now, what will it be like in 20 years?
790 per month (900 less mngt fees of 10% + VAT)Per week? Month? Annum?
The apartment itself or the common areas or both?
Yes, outrageously, the lender expects the money that was borrowed to be paid back.
So you could sell now and clear c. €39k?
Are you confident, given your difficulty paying this mortgage, that you will get a lender to give you a mortgage?790 per month Likely they would try and offer a new mortgage for the 189k combined at existing variable rates which I could not cover.
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