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Then he will have a 560k mortgage on new property and will have much higher mortgage payments on the new one,you cant look at the current house in isolation and as an expert you know that the investment in the first house isnt 130k outstanding mortgage amount its the current value of 390kSloopy said:It is possible to keep the property. If you hold on to your current property you will pay aprox €390pm on €130k interest only. You will get aprox €1250pm rent. If rates rise by 1% we will still have the loest rates in Europe. The market will still be hot and a raise of this amount should not slow it signifigantly.
I am a broker - I buy and sell property in Ireland and abroad, I also have a masters in economics therefore I am an expert in this area.
My advice is to go for it, you wont regret it.
Sloopy said:It is possible to keep the property. If you hold on to your current property you will pay aprox €390pm on €130k interest only. You will get aprox €1250pm rent. If rates rise by 1% we will still have the loest rates in Europe. The market will still be hot and a raise of this amount should not slow it signifigantly.
I am a broker - I buy and sell property in Ireland and abroad, I also have a masters in economics therefore I am an expert in this area.
When did elementary arithmetic cease to be a requirement for an MA in Economics?Sloopy said:I am a broker - I buy and sell property in Ireland and abroad, I also have a masters in economics therefore I am an expert in this area.
There a experts on cars and then there's mechanics ....I am a broker - I buy and sell property in Ireland and abroad, I also have a masters in economics therefore I am an expert in this area.
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