Hi,
I have a query regarding negative equity trade up mortgages.
I have a two bed apartment which is in negative equity of around €40k.
Unfortunately it no longer suits my circumstances as I have two young children.
Ideally I would like to sell the property and buy a 3 bed house.
I have looked at the negative equity trade up products being offered by KBC, BOI and PTSB and they all set the minimum deposit requirement at 10%.
However, my mortgage is with AIB and they have set the minimum at 20% which I find very frustrating as it pushes this option out of my reach.
I was just wondering if anyone has dealt with AIB in a similar scenario and negotiated a deposit requirement closer to the 10% region?
Thanks
I have a query regarding negative equity trade up mortgages.
I have a two bed apartment which is in negative equity of around €40k.
Unfortunately it no longer suits my circumstances as I have two young children.
Ideally I would like to sell the property and buy a 3 bed house.
I have looked at the negative equity trade up products being offered by KBC, BOI and PTSB and they all set the minimum deposit requirement at 10%.
However, my mortgage is with AIB and they have set the minimum at 20% which I find very frustrating as it pushes this option out of my reach.
I was just wondering if anyone has dealt with AIB in a similar scenario and negotiated a deposit requirement closer to the 10% region?
Thanks