Hi,
Just looking for a bit of advise for my scenario.
I purchased my home last year as a FTB. Details;
Mortgage 200k over 35 years
House Value at purchase 285k
Potential Value now 300k
Variable 2.95% mortgage
Approx €800p/m repayments
My partner has a mortgage with an ex.
The remainder on the mortgage is approx 260k.
Property is currently worth approx 265-270
The ex is looking to sell and happy to walk away from the house.
My questions are, can we apply for a joint mortgage on the property my partner co-owns?
We would plan to owner occupy the property and rent my house for approx €1300 p/m.
Would we need to have 20% deposit or is the equity in my house sufficient?
Our combined income is €100k per annum.
We haven't stared proper savings yet so we are aware we would need 6 months of this. We anticipate to be able to save minimum €1500 p/m
Thanks in advance,
JB