You will need to be a bit more specific.
Value of house €350k
Mortgage €280k which bank, term remaining
Loan from father €40k
Wife's loan €30k with which bank, term remaining.
Monthly repayments?
Equity 0
You might be able to refinance but to what level is the question. If you are asking can you get 100% of the value to pay back your father and your wife's loan I'd imagine the answer is no.
You will need to be a bit more specific.
Value of house €350k
Mortgage €280k which bank, term remaining
Loan from father €40k
Wife's loan €30k with which bank, term remaining.
Monthly repayments?
Equity 0
You might be able to refinance but to what level is the question. If you are asking can you get 100% of the value to pay back your father and your wife's loan I'd imagine the answer is no.
Thanks newirishman,
We bought the house like this without a mortgage as the vendor was only interested in cash bids. I find much of the information relating to "remortgaging" or "equity release" in Ireland confusing. Remortgaging because we have never had a mortgage and equity release because most of it seems to be aimed at older people while we are both 26.
Bob
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