I currently own a house(House A) outright worth in the @160k region.
I was recently browsing myhome.ie and came across a property I am very interested in purchasing.
Here's where the problem starts for me.
I am relatively asset rich at 33years old,
Own my home, have @115k in investments and another @30k in Savings.
Only debt I have is Credit Card and that is usually cleared regularly.
I would like to put @30k down on the house I like on which would be more than 20% of the price I'd expect to pay for the new property.
I'd like to finance the balance via a mortgage.
But here's where the problem starts for me.
I am currently unemployed and have no regular income apart from dividends and so on.
Is there any option for mortgage financing available to me in these circumstances?
Ideally I'd like to keep house A and let it at @700pm rent(Very good renters market in the locality) and move lock stock and barrel to house B?
Is this a possibility in my current circumstances?
I was recently browsing myhome.ie and came across a property I am very interested in purchasing.
Here's where the problem starts for me.
I am relatively asset rich at 33years old,
Own my home, have @115k in investments and another @30k in Savings.
Only debt I have is Credit Card and that is usually cleared regularly.
I would like to put @30k down on the house I like on which would be more than 20% of the price I'd expect to pay for the new property.
I'd like to finance the balance via a mortgage.
But here's where the problem starts for me.
I am currently unemployed and have no regular income apart from dividends and so on.
Is there any option for mortgage financing available to me in these circumstances?
Ideally I'd like to keep house A and let it at @700pm rent(Very good renters market in the locality) and move lock stock and barrel to house B?
Is this a possibility in my current circumstances?