Hi, did they tell you that before or after you provided details of your income?I spoke to one mortgage provider today who said I would have to have the properties sold before the drawdown of the mortgage could happen.
Doubt that anybody here is going to be able to answer that one for you!My girlfriend lives with me for the last year but I'm not sure whether we should get a mortgage together or if I should just get a sole mortgage.
So this is a second property that you own in addition to your PPR?I am about to put a rental property on the market for €230k, no mortgage.
If you're selling a rental property to fund the purchase of the new property then what's the problem?I would prefer to keep my PPR until after I move to the new house so that I am not stuck renting for a few weeks/months.
So you're selling two properties? The PPR and the rental property?I would have to have the properties sold
Don't forget to account for CGT that may need to be paid on the sale of this property and when it needs to be filed/paid:I hope to advertise the rental in the next fortnight so that should sell quick and align with the new house purchase.
Why would you be talking to BOI re a mortgage. I have a BOI mortgage only because they were the only people prepared to give me a mortgage as a Proprietary Director without any company accounts yet. Aside from that, their rates are very uncompetitive.Sorry, I was probably driven to distraction by the young mortgage advisor I spoke to in the BOI Call Centre. I've decided to book an appointment with the Mortgage person in my local branch.
I will eventually be selling both my PPR and the rental property. I hope to advertise the rental in the next fortnight so that should sell quick and align with the new house purchase.
No capital gains to be paid as I have already sold another rental property and carried forward a loss.Don't forget to account for CGT that may need to be paid on the sale of this property and when it needs to be filed/paid:
Capital Gains Tax
Capital Gains Tax is charged on the capital gain or profit made on the disposal of an asset. Some assets are exempt from Capital Gains Tax. Find out if you are liable for Capital Gains Tax.www.citizensinformation.ie
OK - but you still probably need to do a return?No capital gains to be paid as I have already sold another rental property and carried forward a loss.
I have had 3 mortgages with BOI and always felt that the rate was good, granted two of these were trackers. I will be shopping around but in order to secure the purchase of this property I want to be mortgage approved before I bid.Why would you be talking to BOI re a mortgage. I have a BOI mortgage only because they were the only people prepared to give me a mortgage as a Proprietary Director without any company accounts yet. Aside from that, their rates are very uncompetitive.
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