Hi,
Similar to the post here, I am in a position like the other OP.
I'm shortly going to be in a similar position, albeit is I who want to take over the mortgage. Mortgage got for190.
Tracker with ptsb.
Current balance approx 170
Now worth possibly 135-140
I spent 20k on adding an extension. not sure what extra this would make to the value of the house. I'd say 150k would be top whack for the moment.
Deposit and repayments were shared 50:50 Wife put about a grand into house lately.
My view is that I get house valued now both as it stands with and without the garage included in estimates.
Eg 15k difference. NE is shared @ min €15k each
My investment makes NE €10k each
If I take on mortgage and house appreciates to original level or even someday above that, is she entitled to any equity? Is her investment pro-rated?
I want to leave her name on the mortgage as I would lose the tracker otherwise.
There are benefits to her in the form of avoiding NE if I just let her walk away and let me take over the repayments/NE.
Am I mad?
Similar to the post here, I am in a position like the other OP.
I'm shortly going to be in a similar position, albeit is I who want to take over the mortgage. Mortgage got for190.
Tracker with ptsb.
Current balance approx 170
Now worth possibly 135-140
I spent 20k on adding an extension. not sure what extra this would make to the value of the house. I'd say 150k would be top whack for the moment.
Deposit and repayments were shared 50:50 Wife put about a grand into house lately.
My view is that I get house valued now both as it stands with and without the garage included in estimates.
Eg 15k difference. NE is shared @ min €15k each
My investment makes NE €10k each
If I take on mortgage and house appreciates to original level or even someday above that, is she entitled to any equity? Is her investment pro-rated?
I want to leave her name on the mortgage as I would lose the tracker otherwise.
There are benefits to her in the form of avoiding NE if I just let her walk away and let me take over the repayments/NE.
Am I mad?