pauseforthought
Registered User
- Messages
- 4
Age:
33
Spouse’s/Partner's age:
33
Annual gross income from employment or profession:
€102,500 (plus bonus of up to 25%)
Annual gross income spouse:
€45,000
Type of employment:
private sector
Spouse type of employment:
public sector
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
€600,000
Mortgage on home
€97,000
Mortgage provider:
AIB
Type of mortgage: Variable 2.7
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€100,000
Do you own any investment or other property?
No.
Ages of children: 1 year old
Life/health insurance:
- mortgage protection
- health insurance
- company pension includes death in service
What specific question do you have or what issues are of concern to you?
We are considering "trading up" to a house which would cost €850,000 - €900,000. We have substantial equity in our home (approx €500,000) and a decent amount of cash (approx €100,000).
We would like to avoid having to first sell our home before we could buy a new home. Do any of the banks have a product which would facilitate this given that if we, for example, borrowed with AIB they already have our €500,000 of equity as collateral?
Also, do banks typically facilitate a person entering into a personal unsecured loan to bridge a gap in these circumstances? For example, if we had family that could lend us €200,000 would the bank be willing to facilitate the house purchase prior to the sale of our house? With a small child our aim would be to close everything together but we would rather not be hamstrung to have to sell our home first.
Thanks for your time.
33
Spouse’s/Partner's age:
33
Annual gross income from employment or profession:
€102,500 (plus bonus of up to 25%)
Annual gross income spouse:
€45,000
Type of employment:
private sector
Spouse type of employment:
public sector
Expenditure pattern:
We are both generally 'savers'
Rough estimate of value of home
€600,000
Mortgage on home
€97,000
Mortgage provider:
AIB
Type of mortgage: Variable 2.7
Other borrowings – car loans/personal loans etc
None
Do you pay off your full credit card balance each month?
Yes
Savings and investments:
€100,000
Do you own any investment or other property?
No.
Ages of children: 1 year old
Life/health insurance:
- mortgage protection
- health insurance
- company pension includes death in service
What specific question do you have or what issues are of concern to you?
We are considering "trading up" to a house which would cost €850,000 - €900,000. We have substantial equity in our home (approx €500,000) and a decent amount of cash (approx €100,000).
We would like to avoid having to first sell our home before we could buy a new home. Do any of the banks have a product which would facilitate this given that if we, for example, borrowed with AIB they already have our €500,000 of equity as collateral?
Also, do banks typically facilitate a person entering into a personal unsecured loan to bridge a gap in these circumstances? For example, if we had family that could lend us €200,000 would the bank be willing to facilitate the house purchase prior to the sale of our house? With a small child our aim would be to close everything together but we would rather not be hamstrung to have to sell our home first.
Thanks for your time.