Hi,
I am looking into purchasing a house through Fingal Co Co house purchase loan scheme.
At the moment I am on the title deeds of a property in Dublin, which I had purchased 6 years ago with my ex wife. We are going to get divorced soon and I am willing to leave her this property. It is in negative equity, its worth circa 110 k, and outstanding mortgage is 210k. She will continue making repayments on this mortgage.
I contacted several mortgage brokers and basically do not have a cat's chance getting another mortgage in my own name since I already have this liability.
I am just wondering if house purchase schemes allow loans for applicants such as myself? It seems that various councils have slightly different requirements e.g. Dublin City Council will only deal with First time buyers; however, Fingal Co Council makes exceptions there for legally separated and divorced people who are not first time buyers. Any thoughts?
Thanks
I am looking into purchasing a house through Fingal Co Co house purchase loan scheme.
At the moment I am on the title deeds of a property in Dublin, which I had purchased 6 years ago with my ex wife. We are going to get divorced soon and I am willing to leave her this property. It is in negative equity, its worth circa 110 k, and outstanding mortgage is 210k. She will continue making repayments on this mortgage.
I contacted several mortgage brokers and basically do not have a cat's chance getting another mortgage in my own name since I already have this liability.
I am just wondering if house purchase schemes allow loans for applicants such as myself? It seems that various councils have slightly different requirements e.g. Dublin City Council will only deal with First time buyers; however, Fingal Co Council makes exceptions there for legally separated and divorced people who are not first time buyers. Any thoughts?
Thanks