Like a lot of people we have become reacquainted with our living space in recent months. We always had an eye on trading up for more space, but due to overpaying our mortgage we have limited savings for a deposit, so this was a five year plan. I have just seen a house we very are interested in that we could move into immediately as it is ready to go.
I already approached our current mortgage lender UB to see what our options were and with them we would need to sell and get in a chain. Does anyone have any recent experience of this with any other lenders where they were able to release equity from PPR to fund a deposit? We have sufficient equity and income levels to support the new house cost, but it's the gap between selling and buying that is the issue.
Selling first and renting isn't really an option right now in Dublin, and as we have (fingers crossed!) school going kids, we have to stay in our locality. No options on borrowing cash even short term from friends/family.
Thanks in advance for any assistance.
I already approached our current mortgage lender UB to see what our options were and with them we would need to sell and get in a chain. Does anyone have any recent experience of this with any other lenders where they were able to release equity from PPR to fund a deposit? We have sufficient equity and income levels to support the new house cost, but it's the gap between selling and buying that is the issue.
Selling first and renting isn't really an option right now in Dublin, and as we have (fingers crossed!) school going kids, we have to stay in our locality. No options on borrowing cash even short term from friends/family.
Thanks in advance for any assistance.
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