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Mortgage question

  • 27-10-2014 7:05am
    #1
    acb
    Registered Users, Registered Users 2 Posts: 120 ✭✭


    We have an apartment that we have rented out. The mortgage on it  is covered by the rent easily and we haven't increased the rent on it in the 3 years it's been rented out.
    We have saved up a deposit of about €40k and are hoping to buy a house next year.
    The apartment however is in negative equity by about 50,000 and is a tracker.

    Will the apt go against us when applying for a mortgage?
    We want to keep the apartment as an investment.

    Thanks In advance for your help.


Comments

  • #2
    Bank of Ireland: Billy
    Closed Accounts Posts: 1,066 ✭✭✭Bank of Ireland: Billy


    acb wrote: »
    We have an apartment that we have rented out. The mortgage on it  is covered by the rent easily and we haven't increased the rent on it in the 3 years it's been rented out.
    We have saved up a deposit of about €40k and are hoping to buy a house next year.
    The apartment however is in negative equity by about 50,000 and is a tracker.

    Will the apt go against us when applying for a mortgage?
    We want to keep the apartment as an investment.

    Thanks In advance for your help.
    Hi acb, 

    Thanks for contacting us on Boards. 

    A Mortgage Adviser would be the best person to help with your query. 

    We have an online call-back form that you can access here

    We also have an extensive Mortgage FAQ section here

    Alternatively, if you would like to send us a PM with your name and contact details, we will be happy to arrange a call-back for you. 

    Thanks

    Billy 


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