Hello all
I'm currently considering buying an apartment with a rather good deal. I can pay for half of it up front, and I would take a mortgage for the second half. The investor is near bankrupt, and the (recently bailed) bank is forcing them to sell newly built apartments at approximately 40% discount from initial price and in addition something that looks like a fairly sweet mortgage deal - 6 month EURIBOR + 2,5%. The initial interest rate would be 2.9%, which less than what I get for a bank deposit.
Are there any catches I should worry about? I know the interest rate will go up with EURIBOR, but other than that?
Thanks in advance :)
McHrozin
I'm currently considering buying an apartment with a rather good deal. I can pay for half of it up front, and I would take a mortgage for the second half. The investor is near bankrupt, and the (recently bailed) bank is forcing them to sell newly built apartments at approximately 40% discount from initial price and in addition something that looks like a fairly sweet mortgage deal - 6 month EURIBOR + 2,5%. The initial interest rate would be 2.9%, which less than what I get for a bank deposit.
Are there any catches I should worry about? I know the interest rate will go up with EURIBOR, but other than that?
Thanks in advance :)
McHrozin
via JREF Forum http://ift.tt/1bN3Gfj
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