A
annamontanna
Guest
Hi,
Husband and I have decided to go to the bank and ask if it's possible to apply for a mortgage plus extension monies.
We are aware that we're probably wasting our time in this climate, but will let you all know the outcome anyway, as I notice a few people have asked similar questions.
If anyone can offer advice on preparations to do beforehand, or information to supply the bank (like should we have a type of financial plan?), I would appreciate it.
We are looking for 300k. Property sale price 225k to us as we know vendor; and asking for circa 75k extra for works to be done on property. Three houses for sale on the street right now. The cheapest house in the street right now is smaller and not as big a garden and presently on at 330k. Most expemsive one for sale 420k. I understand this means very little to the bank these days.
Background info:
Early 30's; joint salary £100k;
One public sector employee and one private sector employee. Jobs pretty safe; savings 30k - required for stamp duty / deposit; own house in Northern Ireland - valued by bank this week at £150k - mortgage £40k. don't want to release equity on it due to sterling rates but willing to use as collateral...maybe.
No credit cards / personal loans / just one car loan for 250 per month with 2 years to go on it.
Have been paying 1500 per month rent in Dublin since we moved here two years ago. Plus £400 per month plus rates on the Northern Ireland property as we have never rented it, but stay there at weekends. Pricey holiday home I know. Going to rent it now, and had agency in and all good to cover the mortgage there.
Person we know wants rid of this Dublin house hence the low sales price. House could be lived in as it stands, but requires modernisation and all neighbours have extension so we think it may not be a big issue, although planners have not verified anything.
Thanks in advance!
Husband and I have decided to go to the bank and ask if it's possible to apply for a mortgage plus extension monies.
We are aware that we're probably wasting our time in this climate, but will let you all know the outcome anyway, as I notice a few people have asked similar questions.
If anyone can offer advice on preparations to do beforehand, or information to supply the bank (like should we have a type of financial plan?), I would appreciate it.
We are looking for 300k. Property sale price 225k to us as we know vendor; and asking for circa 75k extra for works to be done on property. Three houses for sale on the street right now. The cheapest house in the street right now is smaller and not as big a garden and presently on at 330k. Most expemsive one for sale 420k. I understand this means very little to the bank these days.
Background info:
Early 30's; joint salary £100k;
One public sector employee and one private sector employee. Jobs pretty safe; savings 30k - required for stamp duty / deposit; own house in Northern Ireland - valued by bank this week at £150k - mortgage £40k. don't want to release equity on it due to sterling rates but willing to use as collateral...maybe.
No credit cards / personal loans / just one car loan for 250 per month with 2 years to go on it.
Have been paying 1500 per month rent in Dublin since we moved here two years ago. Plus £400 per month plus rates on the Northern Ireland property as we have never rented it, but stay there at weekends. Pricey holiday home I know. Going to rent it now, and had agency in and all good to cover the mortgage there.
Person we know wants rid of this Dublin house hence the low sales price. House could be lived in as it stands, but requires modernisation and all neighbours have extension so we think it may not be a big issue, although planners have not verified anything.
Thanks in advance!