I'm four years into a mortgage on an affordable house. I recently saw a house I would love to buy. What are the chances of getting a mortgage from the bank? The new mortgage would be 2/3rds the cost of the current one ie 50 grand less.
Would I have to save a deposit or would the bank take proof of payment of current mortgage ie bank statements, as evidence that I can cope with the payments? The new place would be more affordable for me, it would cut around €500 off what I'm paying at the mo! Of course I would need to sell and pay back the council before I could do anything. Just looking for your thoughts and advice. Thanks in advance.
Would I have to save a deposit or would the bank take proof of payment of current mortgage ie bank statements, as evidence that I can cope with the payments? The new place would be more affordable for me, it would cut around €500 off what I'm paying at the mo! Of course I would need to sell and pay back the council before I could do anything. Just looking for your thoughts and advice. Thanks in advance.