I have spoken with a few people about this today and have been told that, because the banks can only offer the exemption to max 15% of customers they can, and are being extremely selective with who gets it. I've been advised to jump at the 80% offer, given the ICB black mark. We are lucky that we are in a position whereby family can help out. We need to pay them back but not in the short term.
at the moment if I sell it I will lost about 50k, plus the agents fees and solicitors fees on the sale. I bought it for 240, I owe 210 and I'd say I'd get about 190, maybe 200k.
Hi Sarenco, I know the tax on the apartment will be significant, I have worked it out and I am a CTA so I know what I'm doing but at the moment if I sell it I will lost about 50k, plus the agents fees and solicitors fees on the sale. I bought it for 240, I owe 210 and I'd say I'd get about 190, maybe 200k. It's in Dublin and there is a good bit of work going on near to my apartment at the moment that I think could impact the value over the next few years. I am hoping it will recover some, if not all of it's value and I intend to sell it as soon as it does.
I have just started on a new salary scale that will see decent increments over the next few years too, which is also a factor and I expect take home pay to *marginally* increase with this years budget.
Is 4 times gross income really that excessive? It's only just above the LTI rules and even a few months ago would have been viewed as within our comfortable range.
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