Would I be better selling and bringing negative equity with me or getting a brand new mortgage?

Ask the expert: your home-buying questions answered

Bank of Ireland has options for it's customers who are in negative equity and wish to move home. These applications are assessed on a case-to-case basis. Bank of Ireland customers can carry the negative equity portion of their old mortgage forward on to their new mortgage, up to a maximum loan-to-value of 175 per cent. An alternative option is to hold on to your present property and rent it out. There are a few aspects to this application that need to be considered; such as your debt burden relative to your income, the cost of maintaining two properties and also is your present property suitable to be rented out. A Bank of Ireland mortgage advisor will be more than happy to discuss your options with you.

Sara Kelly - Bank of Ireland, Mobile Mortgage Manager