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mortgage question

  • 07-11-2007 1:54pm
    #1
    memeandmark
    Registered Users, Registered Users 2 Posts: 143 ✭✭


    hope i am in the right topic...just have a query on mortgages...if i got a mortgage for a house could i get enough out to buy a car as well or how would i go about doing this...thanks


Comments

  • #2
    miju
    Banned (with Prison Access) Posts: 8,486 ✭✭✭miju


    you could get a "top-up mortgage" but AFAIK this depends on how long you've have had the mortgage for.

    If you've just gotten a morgage to buy a house and want to use some of that to buy a car then theres not a chance in hell of the bank letting you do that.


  • #3
    memeandmark
    Registered Users, Registered Users 2 Posts: 143 ✭✭memeandmark


    even if i get the auctioneer to over value the property...is this possible


  • #4
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    If you already had the mortgage and the car loan you can switch the mortgage over to another bank and take up all the debt under one loan. But the value of the house would have to cover the both. In short you've no chance of this happening. Banks don't do 125% mortgages...


  • #5
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    memeandmark wrote: »
    even if i get the auctioneer to over value the property...is this possible

    The mortgage co will appoint their own independent valuer.


  • #6
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    You really shouldn't be looking for advice on how to try and cheat your way around on this forum.

    Locked.


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