marion61271
Registered User
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I currently own a property €170,000 outstanding (now worth about €80,000).
Rented it when I had my first child and live in my now husbands house.
Rental income €700 pm, paying a fixed amount of €1000 (slight overpayment), at current interest rates the rent just covers the mortgage (which is a tracker).
My husband's outstanding mortgage is €80,000 on his house (not in neg equity but not in profit either), which we now live in.
We have combined gross income of € 90,000 PA and two children
What are the chances of us being able to upgrade my husband's house (and by how much) to a new property with the negative equity on the rental property.
We have about €20,000 deposit
Rented it when I had my first child and live in my now husbands house.
Rental income €700 pm, paying a fixed amount of €1000 (slight overpayment), at current interest rates the rent just covers the mortgage (which is a tracker).
My husband's outstanding mortgage is €80,000 on his house (not in neg equity but not in profit either), which we now live in.
We have combined gross income of € 90,000 PA and two children
What are the chances of us being able to upgrade my husband's house (and by how much) to a new property with the negative equity on the rental property.
We have about €20,000 deposit