Using site as security for mortgage

F

forbes

Registered User
Messages
57
Hi Guys.

I wanted to get a house withing the next two years. I'm on my own earning an average salary. As it is am not going to be able to afford much.
However I have a good site at home worth say 150k. Would I be able to use this a security against the mortgage?
Thanks.
 
Typically, only one of the big retail banks (e.g. AIB, Bank of Ireland) would be able to accomodate this.

Remember that having extra security will not mean you can afford more. It might just mean that you can borrow a higher percentage. But if your income qualifies you for, say, €200,000 having a site won't improve this figure.
 
I'm actually only able to get 200k and I thought with the site I could borrow more.
Thanks for the reply.
 
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