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Protection of first property after purchasing second property as sole dwelling in default

  • 13-03-2023 08:58PM
    #1
    Registered Users, Registered Users 2 Posts: 324 ✭✭


    I was thinking of getting a second property but i would be a first time morgage holder. So the bank informed i would be entitled to have the second property as my personal residence hence a lower deposit. Therefore my current property would become a asset or investment property? Also in the unfortunate event that i defaulted on my second property which i chose to live in as my personal residence could the bank cease my first property to pay of any debt outstanding after ceasing my second property through default?



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