Should you increase rent on yearly review.

[markowitzman]

have you pleaded your case with the banks?
Have you got an independent financial advisor to fight your corner?
If you had 20-30k as a deposit I think you are in a stronger position.
What salary and savings do you have?

 

[kazbah]

have you pleaded your case with the banks?
Have you got an independent financial advisor to fight your corner?
If you had 20-30k as a deposit I think you are in a stronger position.
What salary and savings do you have?

€41k pa circa €30 in savings but some of it is tied up in investments but I could liquidate at notice. If I were to buy it would as an investment property as I could not afford the mortgage on my own and I would not like to be a live in landlord. I'm nervous about buying a first property in this climate.

 

[markowitzman]

if I was you would buy 2 bed and rent a room........tax free rent
30k plus ssia is a good deposit
bank can take security on the investment products so you do not necessarily need to liquidate them.
However they may take a perceived value of 50-60% of market value of investments for security.

 

[gearoidmm]

Do any of the tenants on this thread hope to buy this year with the proceeds of ssia?

Similar apartment to the one I'm living in went on the market for E750,000 last year. Despite that I'm paying ~E1300 rent. Fantastic place in a great location that I couldn't afford to buy in - I can't see why I should buy someplace I don't really want to live when I can rent much more cheaply!

I think I'll go on a nice holiday instead

 

[Holy Well]

Fair point Gearóid