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Mortgage loan

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  • 16-07-2013 9:09pm
    #1
    m6219
    Registered Users Posts: 25 ✭


    Hi lads, have a question. We are applying for approval in principle and our bank will only lend us 92% of the sale price of the property. Just say we bought a house for 200k that needed 50k to make right, are there any banks that will lend you 250k, rather than 92% of 200, or are they all the same? Thanks in advance :)


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    #2
    Dr Turk Turkelton
    Registered Users Posts: 2,949 ✭✭✭Dr Turk Turkelton


    m6219 wrote: »
    Hi lads, have a question. We are applying for approval in principle and our bank will only lend us 92% of the sale price of the property. Just say we bought a house for 200k that needed 50k to make right, are there any banks that will lend you 250k, rather than 92% of 200, or are they all the same? Thanks in advance :)

    Yes.All you need is a DeLorean fitted wuth a flux capacitator.Type 2006 into the year you want to go to and hey presto.

    Also take out an extra 40k for an Audi a4.Sure what could go wrong?


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    #3
    L1011
    Registered Users Posts: 68,812 ✭✭✭✭L1011


    You may be able to get a loan for a house + improvements, however there isn't a snowballs chance in hell that you'll get it for 100% of the cost - as said somewhat more crudely there, this isn't 2006.

    You will need 8-10% of the cost of the house as an absolutely bare minimum. No ifs, no buts.


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