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paula eliza
Guest
Would really appreciate your feedback on this one. I purchased an apartment through the Shared Ownership Scheme a year & half ago for €180,000, Got €174,000 from council, them owning 60% . A couple of months later I was in a position to buy out property so started applying for a mortgage and got a valuation on property which was €190,000. Got mortgage approved and then it turned out that the land registry was not through so I had to wait. So one year later, last week I got a call saying it is through that I could go ahead.
Hope I am making sense here.......This week the mortgage company said we must re- apply for mortage as it has been so long, so I gave in all the documents and my apartment got re- valued. this time the valuation came back €145,000. The redemtion figure from the council is €175,000. Now I cannot get a mortgage to buy them out. Do you know if the council can buy back the property from me or what do I do in this situation??? Has anyone been in a simalar situation? Also my job is not really looking as secure as before.
Hope I am making sense here.......This week the mortgage company said we must re- apply for mortage as it has been so long, so I gave in all the documents and my apartment got re- valued. this time the valuation came back €145,000. The redemtion figure from the council is €175,000. Now I cannot get a mortgage to buy them out. Do you know if the council can buy back the property from me or what do I do in this situation??? Has anyone been in a simalar situation? Also my job is not really looking as secure as before.