Hi,
I am currently looking into buying a second property and prior to approaching a bank for a loan I want to find out as much as I can.
Current status:
PPR Valuation: €320,000
Mortgage o/s: €280,000
Personal Savings: €100,000
(SSIA maxed and included in above figure. It will mature June 06)
Salary: €32,000
No outstanding debts, loans or otherwise (excl. mortgage).
Based on the above how much would I qualify for either an investment mortgage and an annuity mortgage without dipping into my savings? Does my selection of mortgage type impact on the potential amount offered? It is my intention to release equity from PPR to put towards the purchase.
Thanks in advance
Regards,
I am currently looking into buying a second property and prior to approaching a bank for a loan I want to find out as much as I can.
Current status:
PPR Valuation: €320,000
Mortgage o/s: €280,000
Personal Savings: €100,000
(SSIA maxed and included in above figure. It will mature June 06)
Salary: €32,000
No outstanding debts, loans or otherwise (excl. mortgage).
Based on the above how much would I qualify for either an investment mortgage and an annuity mortgage without dipping into my savings? Does my selection of mortgage type impact on the potential amount offered? It is my intention to release equity from PPR to put towards the purchase.
Thanks in advance
Regards,