I currently own a new 2-bed apartment in Dublin that we live in. It was built 2 years ago (bought 400k). We have been thinking about getting a second mortgage, buy a house (around 600k) and rent the apartment but I'm not sure how risky it could be considering the current housing market, inflation, etc.
We have also paid about 60% of the apartment's mortgage and the bank agreed to give us a load for a 600-650k house.
Would you suggest getting a second mortgage or does it make more sense to pay off the first mortgage before getting a second loan?
We have also paid about 60% of the apartment's mortgage and the bank agreed to give us a load for a 600-650k house.
Would you suggest getting a second mortgage or does it make more sense to pay off the first mortgage before getting a second loan?