Brendan Burgess
Founder
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The new rules favour people in negative equity. If you are thinking of trading up
Central Bank rules
Housing loans for borrowers in negative equity who wish to obtain a mortgage for a new property are not within the scope of the LTV limits.
Existing ptsb rules for negative equity mortgages
Minimum deposit: 10%
Maximum LTV on new property: 125%
The bizarre result is that the Central Bank is telling some customers that they must borrow no more than 80% of the value of their home, but for others there is a limit of around 125%.
Brendan
- Don't pay any extra capital off your mortgage
- Trade up before your house comes out of negative equity
Central Bank rules
Housing loans for borrowers in negative equity who wish to obtain a mortgage for a new property are not within the scope of the LTV limits.
Existing ptsb rules for negative equity mortgages
Minimum deposit: 10%
Maximum LTV on new property: 125%
The bizarre result is that the Central Bank is telling some customers that they must borrow no more than 80% of the value of their home, but for others there is a limit of around 125%.
Brendan
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