Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Second time buyer

  • 10-04-2016 9:34am
    #1
    Registered Users, Registered Users 2 Posts: 18


    I bought a house 8 years ago for 40,000e to invest my money. Now I am going to sell the house to my dad and use 29000e of it as a deposit for a new house. I never got a mortgage or any loans for the house.
    Will I still have to pay the second time buyer 20% deposit even though I never borrowed the first time?


Comments

  • Registered Users, Registered Users 2 Posts: 2,677 ✭✭✭PhoenixParker


    From a mortgage piint of view, you're a first time buyer.

    The central bank rules apply to the drawdown of a mortgage in your name not the ownership or purchase of a property. Some banks may treat it differently because of internal rules but you argue with them if you have to.

    I'm in a similar situation and am mortgage approved with KBC.

    Given the deposit ypu mention, bear in mind that for the portion of the property value above 220k you still need a 20% deposit.


  • Registered Users, Registered Users 2 Posts: 18 Brobromococo


    That's great to know thanks a million
    From a mortgage piint of view, you're a first time buyer.

    The central bank rules apply to the drawdown of a mortgage in your name not the ownership or purchase of a property. Some banks may treat it differently because of internal rules but you argue with them if you have to.

    I'm in a similar situation and am mortgage approved with KBC.

    Given the deposit ypu mention, bear in mind that for the portion of the property value above 220k you still need a 20% deposit.


Advertisement