Hi,
I work for a Mortgage Broker and would be more than willing to offer my advice.
Ok, depending on your credit history what your circumstances are as regards outstanding loans,etc. it would be likely that we could help you get a mortgage of anything up to €270,000 or even more.
The remainding €70k required for the purchase of the property could be achieved by your father releasing equity in his home. Depending on which lender you approach, this could be done on an Interest only basis, whereby you would save money in long run by repaying the equity your father has released, by using the capital appreciation that you should have on the property you purchase after a year or two.
We have dealt with cases exactly like this and have never experienced much difficulty.
Does that help you anywhat? I'd be delighted to assist you more, and provide the leverage you need if you are really interested in getting your hands on that house.
Cheers
Don't get me wrong, I'm not saying that is the only choice. He wouldn't have to do that even. He could remortgage or they could just continue to repay the equity release. There are a number of options in that regard, all of which would be suitable in any given climate.
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