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Are any banks doing negitive equity loans ?

  • 16-04-2013 6:59pm
    #1
    BPK
    Registered Users, Registered Users 2 Posts: 11 ✭


    Hi looking into maybe selling and moving location got a valuation on current property roughly 25k lower than balance on mortgage . Any know if banks are allowing people to carry this forward ?


Comments

  • #2
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    BPK wrote: »
    Hi looking into maybe selling and moving location got a valuation on current property roughly 25k lower than balance on mortgage . Any know if banks are allowing people to carry this forward ?

    Some banks are, but this will only be an option for you if your current lender has this product.


  • #3
    BPK
    Registered Users, Registered Users 2 Posts: 11 ✭BPK


    So I am with KBC can I only do it with existing mortgage provider ?


  • #4
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    BPK wrote: »
    So I am with KBC can I only do it with existing mortgage provider ?

    Yes, you can only do it with your existing mortgage provider because no other bank is going to take on a debt that exceeds the value of the security you are offering them.


  • #5
    BPK
    Registered Users, Registered Users 2 Posts: 11 ✭BPK


    Very logical when you put it like that thanks a million


  • #6
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    BPK wrote: »
    Very logical when you put it like that thanks a million

    No problem at all..


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  • #7
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    You could approach a new bank for a mortgage and person loan combination. Personal loan would be for the NE. You would need to meet a long list of criteria, but could be another option.


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