Selling and repaying

I want to buy my own home in Dublin as I'm sick of dealing with difficult landlords. The bank are willing to give me a €250,000 mortgage. I've just turned 50, am still single (!!) and have a (reasonably) secure State job. My long-term aim is to move to rural Ireland in about five years' time as I'm in line to inherit the family home.

My question is this: if I decided to sell my Dublin house after five years, could I give the bank a portion of the sale price but continue to pay off the remainder of the mortgage? I would then use the rest of the sale price to modernise the family home in the country. Or do you have to pay back the whole loan. Excuse my ignorance about mortgages!

You have to repay the whole mortgage.

Additionally, with costs and hassles it's not worth buying a place you intend to sell again in a short time period. Shop around for nice accomodation and a reasonable landlord

Thanks DerKaiser.

Is there such a thing as a reasonable landlord in Dublin? Don't fancy living in an apartment/flat and renting a house would be too expensive. The joys of having someone stay overnight, of hammering a nail into the wall or planting my own garden look very attractive at the moment but maybe that would wear off quite quickly with home ownership!

Maybe if I bought a house and rented it out when I wanted to move on...

How much are you willing to pay rent wise pingin?

I'm paying €500 a month at the moment for the use of a small room/office, kitchen, bedroom and bathroom—pretty much the use of the house. It's very cheap. It was a caretaker type arrangement; the original agreement was that the landlord would be away for most of the time but he's now moved back in on a semi-permanent basis.

I'm also saving €800 a month with An Post. So, I'd pay something around €1000 I suppose, though that seems like a great deal of money to give to a landlord.

You'd be able to rent a nice two bed apartment or house for that amount of money in Dublin now. What part do you want to live in? I'm out in Swords and have seen plenty of two bed places going for between 800-1000 per month.

I live in Dundrum at the moment (half hour walk to work) and would like to stay in that local area, if possible.