C
ca_dub
Guest
Hi there - my wife and I are first time buyers and are looking to see how much we can afford. I've visited all the affordability calculators etc i can find but i have a query regarding a plot of land that is in my wifes name (from her parents farm) and how this may affect how much we can afford.
The plot of land (in Ireland but in a different county than where we want to buy) is worth approx 100K. My wife does not want to sell it, nor build a property that we can rent. So how can we use this plot of land to increase the mortgage we can afford?
I guess the bottom line question is how does having a plot of land act as security for taking out a mortgage.
Any advice greatly appreciated.
The plot of land (in Ireland but in a different county than where we want to buy) is worth approx 100K. My wife does not want to sell it, nor build a property that we can rent. So how can we use this plot of land to increase the mortgage we can afford?
I guess the bottom line question is how does having a plot of land act as security for taking out a mortgage.
Any advice greatly appreciated.