Trading up

H

House123

Guest
Hi,

We are currently considering Trading-up and would be grateful for any advice on selecting a Broker.

We are living in Dublin West and currently have a 3 Bed semi with a 200K mortgage outstanding (it is worth a little bit more than this). We have a +.075% Tracker on this property with AIB.

A property has come on the market that we are very interested in and we would like to move on it if possible.

We would like to talk to a Broker who can talk us through our options i.e. do we need to sell first (efectively ruling out a bid for the house mentioned above) or can we negociate something with the bank or possibly keep the 2 properties.

We both have good incomes and have a good deposit built up.

Any advise most welcome

Also, if anybody could recomend a good Broker who could help on this perhaps you could send me a PM.

Thanks
 
Thanks, I have been following this post with interest and it has been very informative while also helping in managing my expectations.

I guess at this point I would like to try and discuss some of the Financials with an expert and try and come up with a strategy.

Cheers
 
I will try to do a Key Post on the issue at some stage.

But the fact that you have a cheap tracker suggests strongly that you should not be thinking of trading up yet. There is a chance that AIB will do a deal on trackers. I would wait for that.

As it happens, there isn't much you can do anyway, if you haven't sold your house.

Brendan
 
Thanks Brendan, Do you have any feeling on when AIB might come up such a deal i.e this year, next year?
 
We are in the same situation. We have a 3 bed semi d in a town outside Cork city. We are running out of space and have seen a 4 bed detached which we would like to trade up to. Currently have a tracker (+0.8%) with PTSB. It's a bit of a conundrum because there aren't that many houses that come for sale here that we like so we are not prepared to sell our current house and wait around in rented accommodation for a couple of years till a decent house comes along. We are confident we could sell our current house but there is no guarantee we will secure the purchase on the house we want. So trying to trade up is pretty difficult.
Sorry for hijacking your thread but I reckon we will need to stay where we are against our wants and family needs and that's incredibly frustrating.
 
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