Summer Sun
Registered User
- Messages
- 14
Hi all
I bought at top end of the market an apartment. Cost 360K and value now about 150K (if Im lucky!!) Have mortgage of 240K on it. However I have to move out. In it nearly 10 years now and had hoped to move after 3/4 years. Far too small for our needs now.
I have a site down the country and would love to build a family home on it - the site is worth about 80K. I reckon I need another 150K to build family home. I am in full-time steady employment and paying mortgage is fine. My question is would I be able to take negative equity and add to my mortgage and perhaps rent out my Dublin apartment whilst building my house OR alternatively if I sold my apartment with some mortgage outstanding could it be added to my new mortgage.
I'm in early 40's and I'm afraid I wont get a mortgage in a few years.
What other options do I have
Thanks
SummerSun
I bought at top end of the market an apartment. Cost 360K and value now about 150K (if Im lucky!!) Have mortgage of 240K on it. However I have to move out. In it nearly 10 years now and had hoped to move after 3/4 years. Far too small for our needs now.
I have a site down the country and would love to build a family home on it - the site is worth about 80K. I reckon I need another 150K to build family home. I am in full-time steady employment and paying mortgage is fine. My question is would I be able to take negative equity and add to my mortgage and perhaps rent out my Dublin apartment whilst building my house OR alternatively if I sold my apartment with some mortgage outstanding could it be added to my new mortgage.
I'm in early 40's and I'm afraid I wont get a mortgage in a few years.
What other options do I have
Thanks
SummerSun