combing 2 mortgages

spacerat

Myself and my partner both have our own mortgages on separat houses and are considering our options for the future.
I owe approx £100,000 on a house worth around £125k and my partner owes around 70k on 130k house.

We are unsure as to what would be better to do long term. do we move in together whilst renting my house out for approx 550pm or sell both and move in to a much larger property together (round here £250k will buy a 4/5 bed house with large gardens)

Any advice is appreciated.

Firewallrob

It sounds like you've already done the hard work like working out rental prices and property values (make sure they're realistic - but only you or someone in the area knows that).

So......it's upto you as to where you would rather live.

Assuming you are not needing to try to claim anything, it's a personal choice :beer:

I would pick the nicest area/best house option

Thrugelmir

Sell one property. Then use the released equity to reduce the mortgage on the other property.

Continue to pay down the remaining mortgage quicker perhaps considering remortgaging onto a better deal in joint names.

Then when the time is right you'll be in the perfect position to buy your dream property.

Gorgeous_George

I'd live in the nicest house that I could comfortably afford.

£550 per month from a £125K investment is poor value for money IMHO.

GG