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

Going for 2nd Mortgage

Smcgie · 2009-11-22 12:10:47

I know with all the doom and gloom I'm lucky to be even thinking about this :) but i am considering buying a second property. As i already own 1 what are the implications on the second mortgage? The house is approx €120,000 I have at least 20% of this covered with savings. So i would be looking for around 80% of a second…

Options

22-11-2009 1:10pm

#1

Smcgie

Registered Users Posts: 1,379 ✭✭✭

Join Date: March 2008

Posts: 1221

I know with all the doom and gloom I'm lucky to be even thinking about this but i am considering buying a second property. As i already own 1 what are the implications on the second mortgage?

The house is approx €120,000
I have at least 20% of this covered with savings.

So i would be looking for around 80% of a second mortgage. I think it will have to be an investment mortgage and therefore probably at a higher interest rate?

Anyone been here lately that wants to shed some light on it? Thanks for any help.

S

0