Is it feasible to buy a second house with a mortgage on the first house?

  • Erstellt am 2025-03-07 05:39:01

wiltshire

2025-03-11 14:10:29
  • #1
Anyway - it is an idea to consider. I am familiar with what it means to found a company as a partnership or corporation, to sell it partially or entirely, to close it in different ways, or to keep it empty in stock. As I said, it’s all not rocket science.
 

Marqui88

2025-03-12 14:14:08
  • #2
Very brief update:

The bank offered us an interest rate of 3.58% for 10 years. With €230,000, we would have a 900 payment. (Without a mortgage on the own house. Income of a total of €3200 assumed, which is not a problem.)
 

mayglow

2025-03-12 14:43:53
  • #3
What is your general plan now? In the initial post it says something about 2200 income (potentially more). I was thinking now: * Re-entry (potentially earlier?) * Then to get financing and purchase finalized It's not explicitly stated anywhere just always that the income is not a problem now after all
 

Fene1907

2025-03-12 15:35:41
  • #4


With a €900 installment at this interest rate, you would still have a remaining debt of €199,000 after 10 years.... Are you sure that a bank agrees to a repayment rate of 1.1%?
 

nordanney

2025-03-12 15:41:04
  • #5
I would claim that the bank did not agree, but offered. With the repayment, you end up with a term of 40 years, which is absolutely common (whether it is good, nice or whatever, is another question).
 

Musketier

2025-03-12 15:59:23
  • #6


At the moment you are, as you yourself write, partly living off your savings.
Then there are somewhat shaky additional income of 1300€, but this is offset by a loan with about 1% initial repayment and a 900€ installment, plus non-allocable ancillary costs and repairs.
The savings of 70,000€ (which you reportedly did not want to touch) will probably be reduced by 40-60,000€, depending.
(20,000€ for the difference purchase price-loan, estimated 20,000€ for ancillary costs, and then gift tax)
I personally still find it insane.
 

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