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my partner and I are looking for a new home,and have seen a nice place for Eu328K, which meets all the criteria. We are currently living together and getting married soon.
I have recently bough a property (with elderly relative as sitting tenant) worth Eu73K - outstanding mortgage is EU65K, we live in an appartment which is currently valued at Eu180-185K, and the outstanding mortgage is Eu110K. The mortgages are with separate lenders.
We would like to keep the appartment as we have someone interested in renting long term and this would cover the mortgage.
Firstly could we combine both properties to release enough equity to put a good deposit on the new property, approx Eu40K?
Secondly the estate agent has advised that as owner / occupier we are exempt from stamp duty on the new property, but checking Oasis I think we'll fall into the 6% category. Can anyone clarify? Property is approx 1450 sq feet.
I have recently bough a property (with elderly relative as sitting tenant) worth Eu73K - outstanding mortgage is EU65K, we live in an appartment which is currently valued at Eu180-185K, and the outstanding mortgage is Eu110K. The mortgages are with separate lenders.
We would like to keep the appartment as we have someone interested in renting long term and this would cover the mortgage.
Firstly could we combine both properties to release enough equity to put a good deposit on the new property, approx Eu40K?
Secondly the estate agent has advised that as owner / occupier we are exempt from stamp duty on the new property, but checking Oasis I think we'll fall into the 6% category. Can anyone clarify? Property is approx 1450 sq feet.