Hi,
I am thinking of moving house shortly and am in the process of getting mortgage approval. I have equity of €100k plus in my current home which would more than cover the 20% deposit rules. My question is - when contracts for a new house are being signed, how do I pay the 10% deposit? I would not have this much savings. Can the deposit from the house I am selling be ofset against the deposit for the new house?
Also, one of the banks I am approaching is KBC. Should I have any concerns about taking out a mortgage with them as they are a foreign bank. My concern is what would happen down the line if they pulled out of Ireland.
I am thinking of moving house shortly and am in the process of getting mortgage approval. I have equity of €100k plus in my current home which would more than cover the 20% deposit rules. My question is - when contracts for a new house are being signed, how do I pay the 10% deposit? I would not have this much savings. Can the deposit from the house I am selling be ofset against the deposit for the new house?
Also, one of the banks I am approaching is KBC. Should I have any concerns about taking out a mortgage with them as they are a foreign bank. My concern is what would happen down the line if they pulled out of Ireland.