the switching option is not a runner as you rightly point out. You are proposing to upgrade not significantly to a max of €50k. You already have 30k of funds available so maximum additional mortgage is c20K with 25 year term left. By saving for a further 3/5 years you will be losing money on your savings given the differential on the 4.3% and the minimal rate received on savings. Also negative equity run down would be similar on any new property purchased given the same term. Rise in market value will also apply to any house you propose to purchase.
Why not approach PTSB and see what they can do for you on an increased mortgage. Then you will be in a position to make a decision. I don't really see any advantage in delaying the decision, but perhaps other posters may!
The negative equity is not relevant to the new mortgage. You sell your existing house for 180K and buy a new house for 230k. You have 30k in savings so you require a mortgage of 280K (an additional 20k). Negative equity remains at 80K. In the circumstances I can't see PTSB applying a rate of 5.3% on the full new mortgage as it makes no sense. However you will need to find out exactly what they can do for you and what the new rate will be before you make any decision.
CB minimum deposit rules don't apply to negative equity mortgages.
You can certainly look at a private sale of your home. However, a good EA should be able to cover his fee in the price received.
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