A
Amy
Guest
I have currently been approved for a rent to buy scheme in Stepaside for a 3 bed property asking price 244,950 pending mortgage approval.
I was told I would need 220,500 mortgage to be able to proceed at the asking price but I have been on to a broker who quoted me 204,000 as my best offer of a mortgage.
The broker said if I offer a lower price for the property I would be reassessed for the mortgage but I would be in a better financial situation to proceed once I had my 25,000 (5000 deposit and 20000 from rent to buy scheme over 18 months).
I was considering putting in an offer of 225,000 for the apt who have been just relaunched at 244,950. The maximum I could afford would be 235,000.
Am I completely mad even considering to offer a lower price?
I am a first time buyer and any advice is welcomed.
I was told I would need 220,500 mortgage to be able to proceed at the asking price but I have been on to a broker who quoted me 204,000 as my best offer of a mortgage.
The broker said if I offer a lower price for the property I would be reassessed for the mortgage but I would be in a better financial situation to proceed once I had my 25,000 (5000 deposit and 20000 from rent to buy scheme over 18 months).
I was considering putting in an offer of 225,000 for the apt who have been just relaunched at 244,950. The maximum I could afford would be 235,000.
Am I completely mad even considering to offer a lower price?
I am a first time buyer and any advice is welcomed.