Hi all,
Hopefully someone out there can give me some advice re my current predicament.
The details are as follows:
Currently living in south of the country but want to move back to the Northeast.
We own a house with an outstanding mortgage of 285k, recently valued at 260k.
Both of us are working: Wifey on 55k, myself on 25k.
My wife just received a job offer in Dublin with probable earnings of 65k and opportunities for myself to change job are quite good(community worker).
I went and talked to our mortgage provider (large nationalised bank) about our options and was told we would have to take out a personal loan or equivalent to pay off the balance (negative equity).
The banker also alluded to (but wouldn't commit) to the possibility of carrying neg. equit. to a downsized mortage but this has yet to be brought before the powers to be to make a decision.
As we currently have childcare (20 month old twins) and 2 car loans adding another short term loan on top of this would cripple us in terms of trying to save for a deposit and paying rent.
Any suggestions?
Hopefully someone out there can give me some advice re my current predicament.
The details are as follows:
Currently living in south of the country but want to move back to the Northeast.
We own a house with an outstanding mortgage of 285k, recently valued at 260k.
Both of us are working: Wifey on 55k, myself on 25k.
My wife just received a job offer in Dublin with probable earnings of 65k and opportunities for myself to change job are quite good(community worker).
I went and talked to our mortgage provider (large nationalised bank) about our options and was told we would have to take out a personal loan or equivalent to pay off the balance (negative equity).
The banker also alluded to (but wouldn't commit) to the possibility of carrying neg. equit. to a downsized mortage but this has yet to be brought before the powers to be to make a decision.
As we currently have childcare (20 month old twins) and 2 car loans adding another short term loan on top of this would cripple us in terms of trying to save for a deposit and paying rent.
Any suggestions?