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Downsizing

hmgar · 2019-04-11 22:03:58

Have a house sale agreed €207k, owe €102k on mortgage. Buying smaller hse €130k. Need approx €25k + fees etc €10k. What’s best to do? Mortgage for €35k/credit union/beg family? Thought personal loan would be best bet but refused as my current outgoing €500 mortgage (27 yrs left) car loan €250 taken into consideration even…

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11-04-2019 11:03pm

#1

hmgar

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Join Date: April 2019

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Have a house sale agreed €207k, owe €102k on mortgage. Buying smaller hse €130k. Need approx €25k + fees etc €10k. What’s best to do? Mortgage for €35k/credit union/beg family? Thought personal loan would be best bet but refused as my current outgoing €500 mortgage (27 yrs left) car loan €250 taken into consideration even though they’ll be gone Thought this would be easier! Have approx €15k due from inheritance nxt mth or 2 so was gonna our that towards the loan. Any advice appreciated

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#2 11-04-2019 11:29pm
Miike

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Posts: 1947

hmgar wrote: »

Have a house sale agreed €207k, owe €102k on mortgage. Buying smaller hse €130k. Need approx €25k + fees etc €10k. What’s best to do? Mortgage for €35k/credit union/beg family? Thought personal loan would be best bet but refused as my current outgoing €500 mortgage (27 yrs left) car loan €250 taken into consideration even though they’ll be gone Thought this would be easier! Have approx €15k due from inheritance nxt mth or 2 so was gonna our that towards the loan. Any advice appreciated

I'd suggest the personal finance forums instead of Consumer Issues

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#3 12-04-2019 10:31am
dudara

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Moved to Accommodation & Property

dudara

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#4 12-04-2019 10:40am
voluntary

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I'd consider selling the car, get some cheap one for a few months instead. €250 montly repayments reduce your affordability a big time. With 15k inheritance you only need to borrow 20k, right? Find out how big a personal loan you can get and beg the family for the difference.

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