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

How much deposit?

Options
  • 28-08-2017 1:15pm
    #1
    Mandy1960
    Registered Users Posts: 3 ✭


    Hi there. Me and my partner would like to purchase a new home together. He owns a house with his brother which is in negative equity by 20-30000 . My home is set to make a profit of 40000 and I also payed 33000 upfront for my home. I owe 15000 in other loans inc 3000 credit card. Our options is to sell my home, clear my debts and to take over the mortgage from my partner s brother and maybe invest into their house. Other option is for the boys to sell the house and we buy a new home together after selling mine. How much deposit do we need ? Is it 20 percent between us or 20 percent each. He has no extra money to do thisso it would be up to me to put up the cash. Sorry for the long winded post. I look forward to your response. Thanks in advance . Ps We are both in permanent full time work and earn about 75000 between both of us. I have 2 children the 1st child is from a previous relationship. I am 39 and he is 35.


Comments

  • Options
    #2
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    Mandy1960 wrote: »
    Hi there. Me and my partner would like to purchase a new home together. He owns a house with his brother which is in negative equity by 20-30000 . My home is set to make a profit of 40000 and I also payed 33000 upfront for my home. I owe 15000 in other loans inc 3000 credit card. Our options is to sell my home, clear my debts and to take over the mortgage from my partner s brother and maybe invest into their house. Other option is for the boys to sell the house and we buy a new home together after selling mine. How much deposit do we need ? Is it 20 percent between us or 20 percent each. He has no extra money to do thisso it would be up to me to put up the cash. Sorry for the long winded post. I look forward to your response. Thanks in advance . Ps We are both in permanent full time work and earn about 75000 between both of us. I have 2 children the 1st child is from a previous relationship. I am 39 and he is 35.

    Hi Mandy,

    Thanks for contacting us through Boards.

    The 20% deposit would be between the 2 people applying for the mortgage. I've given a link here that has all the contact details for our mortgage centre and you can also request a call back from one of our mortgage advisers through this link, as they would be able to have a look into all the details of your application and advise on what you would be the best option for you.

    Thanks again for your message,
    Darren.


Advertisement