uptomyeyesin
Registered User
- Messages
- 52
Myself and a friend purchased and apartment in 2007. The usual negative equity applies. I live in the apartment but we plan to rent it out in the future.
Do banks really care if I'm not paying my MC, taxes etc though?
Possibly. That's the upside. Have you taken a hard look at the downside?Myself and friend are happy to the apartment, we've put a lot into it that we hope some day to see a benefit to keeping it long term.
I'm in a similar situation to yourself and after initial conversations with brokers we've been told that keeping the original property will knock approx €100K off the amount we can borrow for a second mortgage.
I don't mean to sound preachy but looking at this from the point of view of trying to maximise your borrowings is all wrong.
You're misunderstanding me Sarenco - I'm not looking at ways of trying to maximise borrowings. I'm simply trying to establish if there is ANY possibility of even being able to buy a second property.
What the OP presented above was a pretty simple plan to rent out her property and get a new one - her only question was what deposit she would need. I just want to give her a heads up that there may be bigger problems to overcome than saving for a deposit.
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?