Profit from Sale of House..options?

J

jb724

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I am in the process of selling my house.

I will be out of the country until July 2009 then, for work reasons, and intend to buy another house in Dublin area when I return. I hope to earn (after paying off mortgage) approx 100k all going well and I sell it this side of Xmas

I have 2 questions...any advice would be appreciated

a. what is the best option to do with that money i.e. what type of a/c should I put it in until i return in 2009?
b.How much are the banks likely to give me if I have 100K savings and earn 65k p.a and look for another mortgage? I have no other debts
Thanks
JB
 
Re: Profit from Sale of House..options??

Your savings are pretty irrelevant to the size of the mortgage they'll give you. They will help you meet the LTV requirement.

Your income will be the primary determinant of your capacity to repay. The multiples of income banks are willing to lend is likely to decrease as the effects of the bursting global property bubble wash over the financial system.

Funnily enough we didn't have a systemic banking crisis when conservative lending practices were the norm.
 
yes its my PPR so no CGT...any advice on what bank/institution gives best return?...or should I put it on a horse and take my chances :))
 
and that would be the french jockey riding for M stout in the king geo tommorrow;)
 
actually put €50 on that horse and it came in.......5th...that answers my question about whether to put the money on a horse...no more tips Jordanian!!
 
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