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Tranferring properties
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stellalad
Posts: 16 Forumite
I bought my house back in 2001 for £44k and it is now worth IRO £125,000 + I have £32 k left to pay on it as well as a £5k loan secured on it. I have seen a property I wish to purchase @ £90k If I was to sell the house would I be able to pay off the a substantial amount of the remaining debt and transfer it to the new property. I estimate with everything paid off Id reduce my commitment to the bank to around 15k. Is there a way to do this?
0
Comments
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How do you make it £15k
£125k - £90k £35k
£30k + £5k £37k
difference £2k + the cost of sellng and buying
Is your mortgage portable?
Who is it with, what is the rate and how much do you earn?
Any other debts?0 -
Quote: Id reduce my commitment to the bank to around 15k
I think the OP means he would have a mortgage for around 15k0 -
still does't add up0
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