F
Freddy
Guest
We are considering purchasing a property to let in cash for €80000.
Sale price is lower than current valuation and owner has agreed to sell at two thirds of the sale price (banks involved in owners properties, hence bargin price...). Our offer is one third of boom time price, in a very rentable location. We know this as we own property in same estate and rent it out no problem.
We are also thinking of buying another house as our PPR. So my question is would the banks prefer to see that we have an asset, i.e. property, fully paid for worth >€120000 or prefer that we had €80000 cash savings? we would have savings left over of approx €30000 left over if we made the purchase of €80000.
Sale price is lower than current valuation and owner has agreed to sell at two thirds of the sale price (banks involved in owners properties, hence bargin price...). Our offer is one third of boom time price, in a very rentable location. We know this as we own property in same estate and rent it out no problem.
We are also thinking of buying another house as our PPR. So my question is would the banks prefer to see that we have an asset, i.e. property, fully paid for worth >€120000 or prefer that we had €80000 cash savings? we would have savings left over of approx €30000 left over if we made the purchase of €80000.
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