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Investing the lot or clear debts first

  • 24-03-2017 8:10am
    #1
    peposhi
    Registered Users, Registered Users 2 Posts: 1,404 ✭✭✭


    Currently selling a house abroad and when the deal is closed there would be a approx 60-65k spare.
    My wife rents an office for €500 a month all included which is not bad at all.
    We thought to buy a house/bungalow where she could move her practice and pay mortgage instead of renting.
    We have a CU loan over 5 years and pay €750 a month and a mortgage €120000 left over 25years - €600 a month.

    Am I correct to say that it is better to clear the CU loan first and use the €30k left as a deposit towards purchasing a small second house in the price bracket of €90-130k to use as an office.
    I doubt the bank would be willing to give us a loan/mortgage if we were to use the €60-65k as a deposit given the current amont of monthly payments we have...


Comments

  • #2
    peposhi
    Registered Users, Registered Users 2 Posts: 1,404 ✭✭✭peposhi


    Could the mod delete this thread, please.


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