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More than 2 people applying for a mortgage

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Comments

  • Registered Users, Registered Users 2 Posts: 912 ✭✭✭Mr Disco




  • Registered Users, Registered Users 2 Posts: 257 ✭✭LastApacheInjun


    Lads, this is a wind up. If you can't see that you shouldn't be posting on boards 😀 Hats off to you Musicrules, you got eight pages and a year of posts out of it!



  • Registered Users, Registered Users 2, Paid Member Posts: 87 ✭✭Westport Covies


    nah.. the info is coming any day. We're just not smart enough to understand yet



  • Registered Users, Registered Users 2 Posts: 40,588 ✭✭✭✭Mellor


    Unfortunately it's not such a happy ending. Big bust up, nobody is speaking. Have some respect and let the thread die.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,185 ✭✭✭This is it


    https://www.facebook.com/share/r/1AMuGaWLPo/

    "An absolute disaster..."

    Newstalk clip on more than two people getting mortgages.

    @Musicrules



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  • Registered Users, Registered Users 2 Posts: 332 ✭✭cr-07


    Oh, I forgot to add in here that I got a reply from the OP via PM - this is the scheme:

    "

    So it's not easy to find but there are sites out there with more than one property on it. My daughter and her friends found land with 3 properties on it. The site itself is quite big so plenty of garden space or whatever. For the area they were looking in, if they tried to buy a place on their own, they'd be looking at about 400-500k. This purchase was about 800k. Combining their incomes and buying power has left them in a far greater position with much smaller mortgages etc. If any of them fall out, want to move elsewhere or any similar reasoning, they can just sell their property. This arrangement would work for 2 friends buying together also. There's some great value there on some properties, you just have to find it.

    "



  • Registered Users, Registered Users 2, Paid Member Posts: 37,029 ✭✭✭✭o1s1n
    Master of the Universe


    That's a terrible idea if true, you're all responsible for an 800k mortgage being paid rather than a 400-500k one.

    If something went tits up with a couple of people's jobs (how statistically probable is it for everyone to keep their jobs for the full duration of the mortgage?) then the others would have to make up a massive shortfall in their monthly repayments. I could see that leading to arguments and fallout very quickly.



  • Registered Users, Registered Users 2 Posts: 1,602 ✭✭✭Deub


    Thanks for sharing. I expected something else tbf as the OP claimed it was genius and we were not smart enough to think about it ourselves. At the end it is what everyone thought.



  • Registered Users, Registered Users 2 Posts: 24 burgerKev


    4 person mortgages?

    there's pros and cons…

    mind yourselfs



  • Registered Users, Registered Users 2, Paid Member Posts: 8,961 ✭✭✭cml387


    OP is site banned so we shall never know.



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  • Registered Users, Registered Users 2 Posts: 3 bonsai25


    why?



  • Registered Users, Registered Users 2 Posts: 1,602 ✭✭✭Deub




  • Registered Users, Registered Users 2 Posts: 3 bonsai25


    why is OP banned? Soz



  • Registered Users, Registered Users 2, Paid Member Posts: 38,587 ✭✭✭✭Hotblack Desiato


    Because they were being a cnut across multiple threads.

    How is babby formed?

    I'm partial to your abracadabra,

    I'm raptured by the joy of it all.



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