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Mortgage on a Site?

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  • 23-05-2011 11:32am
    #1
    ned ryorson
    Closed Accounts Posts: 10 ✭


    Dear All,

    I own a Site, valued at approx €70k which was gifted to me.

    Can i raise a mortgage on this of €50k, or is there anything to say you cant raise a mortgage on the site alone?

    many thanks

    ned


Comments

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    #2
    sportzstar
    Registered Users Posts: 73 ✭✭sportzstar


    Have you tried contacting a financial adviser or going into the bank about it?

    I met with someone in Ulster Bank last week and they were great.

    Couple of good sites with contact numbers and deals as well like Irish Times Money and it's your money .ie as well.


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    #3
    bailes
    Registered Users Posts: 52 ✭✭bailes


    There is nothing stopping you raising a mortgage on the site if you have full clean title to it, however there is a huge differenece between wanting a mortgage on it and getting a mortgage on it.

    The main issues you will have are
    1. What do you want the €50k for
    2. How do you propose to repay the Mortgage
    3. The value of the site is important as sites have dramatically dropped in value.
    If I can be of any help P.M. me


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