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Negative Equity Mortgage

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  • 23-07-2012 10:36am
    #1
    Dublin Phoenix
    Registered Users Posts: 7 ✭


    Hi,

    What criteria must be met in order in order to apply for negative equity mortgage ?
    I know it will be dealt with on a case by case basis.

    Myself and my partner bought an apartment back in 2005 for €215K (borrowed about €197k) but now it is only worth half that. We really want to buy a house for around €180K but the negative equity on our current property is massive.

    What are our options ?

    Thank you.


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  • Options
    #2
    Bank of Ireland: Linda
    Closed Accounts Posts: 719 ✭✭✭Bank of Ireland: Linda


    Hi Dublin Phoenix,

    There is a new product known as Enhanced Mover Mortgage Propositions. It is only available to current Bank of Ireland and ICS Building Society mortgage customers who are in negative equity and are looking to move. Customers would have to meet certain criteria to be eligible.

    For more information on your options you would need to speak to a mortgage advisor, either by contacting them on 0818 365 850 or through your branch here.

    Thanks
    Linda


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