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Negative equity carry forward...

  • 15-10-2014 9:35pm
    #1
    Stainless_Steel
    Closed Accounts Posts: 1,155 ✭✭✭


    Hello,

    Hoping someone in the know can help me. Here are the facts;

    - Current mortgage value €150k
    - Current house value €80k

    - Combined salary €80k
    - Age late 20's (not sure if that matters)

    - Cash on hand (for deposit) €60k

    Here are the questions;

    - What max value of houses should we be aiming at if we are able to carry-over the negative equity from the current house after selling it?

    - If we are to rent out the current house, and assuming the rent easily covers the existing mortgage + LPT etc., is this a better way to go? Or will a bank just take away €150k (current mortgage owed) from their mortgage approval?

    I really appreciate any guidance!


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