Hi all, some advice appreciated…
We are ready to move house, currently have a 1.1% + ECB tracker with BOI and have 153K left on the mortgage. House is worth about 210K minimum in current market
We want to move from the city to the country and have found a house we really like that is on the market for 290K, trends in the area would suggest that we would get it for approx 280K
I overpay the current mortgage by €150 a month (I pay €865 and actual is €715)
We have a couple of grand in savings and have shown we can save €1000 a month
Combined salary for myself and my husband is €170,000, not including bonus
We do have €855 a month in a loan repayment (house renovation) that will stay in place, we’ve cleared credit cards and don’t have bad debt
We have AIP from AIB for €240,000 but not sure that is worth anything until we have all the documents reviewed by AIB and a more concrete loan offer
We also have a mortgage advisor who is managing the mortgage applications so we are not just stuck with AIB
My question is, what do we need in place to put an offer on the new house and are there any watch outs with the new mortgage?
Thanks so much for any advice you can give
We are ready to move house, currently have a 1.1% + ECB tracker with BOI and have 153K left on the mortgage. House is worth about 210K minimum in current market
We want to move from the city to the country and have found a house we really like that is on the market for 290K, trends in the area would suggest that we would get it for approx 280K
I overpay the current mortgage by €150 a month (I pay €865 and actual is €715)
We have a couple of grand in savings and have shown we can save €1000 a month
Combined salary for myself and my husband is €170,000, not including bonus
We do have €855 a month in a loan repayment (house renovation) that will stay in place, we’ve cleared credit cards and don’t have bad debt
We have AIP from AIB for €240,000 but not sure that is worth anything until we have all the documents reviewed by AIB and a more concrete loan offer
We also have a mortgage advisor who is managing the mortgage applications so we are not just stuck with AIB
My question is, what do we need in place to put an offer on the new house and are there any watch outs with the new mortgage?
Thanks so much for any advice you can give