My partner and I own a 2-bed apartment in Dublin and would like to rent it out and buy a house. Is this possible given our profile ?
Would the banks approve us ? Any idea which ones would be most favorable to our situation ?
Current Apartment market value : 315K
Outstanding mortgage balance : 230K.
monthly repayment : €1425
Expected rent :€2100
Budget for New house : 450K
Current savings : 110K
Avg monthly saving : 3K
combined annual revenue : 117K both in permanent full time jobs.
3 dependants : avg 600 childcare/month
Car loan : 745€/month
Thank you
Would the banks approve us ? Any idea which ones would be most favorable to our situation ?
Current Apartment market value : 315K
Outstanding mortgage balance : 230K.
monthly repayment : €1425
Expected rent :€2100
Budget for New house : 450K
Current savings : 110K
Avg monthly saving : 3K
combined annual revenue : 117K both in permanent full time jobs.
3 dependants : avg 600 childcare/month
Car loan : 745€/month
Thank you