I am writing looking for some advice please.
We bought at a good time and have built up a lot of equity in our home - loan to value ratio would be about 20%. We have also inherited some money (€40K)and are about to purchase a property(€280k) in a place that we know and love for weekend\holiday use. We would appreciate any advice on the most cost effective way of doing this?
For example should we put as much of our savings\shares as we can bear into this house and get as small a mortgage as possible? We could also get a top up on our own mortgage?
Should we try to combine the two mortgages?
As I am self employed (currently with a reasonably stable income) this will form a large part of my pension - is there anything I should be factoring in because of this?
Would be especially interested in hearing from anyone who has done something similar recently. Thanks!
We bought at a good time and have built up a lot of equity in our home - loan to value ratio would be about 20%. We have also inherited some money (€40K)and are about to purchase a property(€280k) in a place that we know and love for weekend\holiday use. We would appreciate any advice on the most cost effective way of doing this?
For example should we put as much of our savings\shares as we can bear into this house and get as small a mortgage as possible? We could also get a top up on our own mortgage?
Should we try to combine the two mortgages?
As I am self employed (currently with a reasonably stable income) this will form a large part of my pension - is there anything I should be factoring in because of this?
Would be especially interested in hearing from anyone who has done something similar recently. Thanks!