Negative equity tracker move house

Discussion in 'Mortgages and buying and selling homes' started by QuinnP, Apr 19, 2017.

  1. QuinnP

    QuinnP New Member

    Posts:
    2
    Hi all,
    Hoping for some advice please.We are meeting with bank on Friday to sell our house and buy a new house. We are currently on tracker 3.25%.We have 250000 mortgage with value of 200000.25 years left.We are planning to buy from my parents.The house is valued at 280000 but they are gifting us equity of 30000.We have lived in the house for 6 years.New mortgage would be same as previous mortgage.We do not have any further desposit but have finances to cover cost of sale etc. We have a combinded gross of 81000. We have 2 children. A small loan of 3400 and credit card 2500. We are accidental landlords and have not declaired this to PTSB. My question is how will I go about our request with bank? What is the best way to discuss equity as deposit? Or any other advice would be greatly appreciated. Thanks
     
  2. QuinnP

    QuinnP New Member

    Posts:
    2
    Sorry, i may not have given enough information.
    Age 34 spouse 32.
    Permanent employees private sector 9 years and 4 years.
    Pension 6% of salary monthly. Spouse 100 p month.