Advertisement
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

Keeping mortgage or apply for new one??

Options
  • 06-01-2014 9:33pm
    #1
    Peekyweeky
    Registered Users Posts: 7 ✭


    Hi just wondering if anyone has can answer this for me.have a house for approx 10 yrs prob mortgage now of 160/170.it was my starter home have since had children and we really need a bigger house.if I manage to sell this can I keep my existing mortgage or do I have to apply for a new one?currently I have a tracker mortgage. Ave a large sum of savings which we planning on building our own house.making appointment wit bank this week but was just wondering a would anyone here know.thks for reading. Also I'm self employed and know this can prove a nightmare when applying for mortgage .


Comments

  • Options
    #2
    NIMAN
    Registered Users Posts: 33,601 ✭✭✭✭NIMAN


    afaik, once you sell a property you MUST clear the mortgage on it and take out a new one (well thats what AIB told me when we moved).


  • Options
    #3
    Peekyweeky
    Registered Users Posts: 7 ✭Peekyweeky


    Oh ok thks for that!!!


  • Options
    #4
    jt69er
    Registered Users Posts: 331 ✭✭jt69er


    Yes, you must clear mortgage on property once its sold,solicitor wont release any remaining funds until all fees,mortgage etc are cleared first.


Advertisement