What happens if your savings could equal your mortgage?

Angelina-M

Thanks all.

originalmiscellany I did the blog as a tool to help me recover after losing my daughter. Nowadays I have other things to occupy my mind including a Grandson! There were some lovely people who wrote to me but usually it was people wanting me to send them free kefir. Maybe I should delete it now.

Thrugelmir The CGT wont be much as I paid almost what I can sell it for.

m_13 Yes that is something to consider if I continue renting. Remortgaging wouldn't make sense as BTL mortgages usually need quite a large deposit and I'm not sure the rent would cover the loan required.

Thrugelmir

Angelina-M wrote: »

Thrugelmir The CGT wont be much as I paid almost what I can sell it for.

With a gross yield under 5%. Then personally I would take the cash and invest elsewhere for a better return.

Angelina-M

Thrugelmir wrote: »

With a gross yield under 5%. Then personally I would take the cash and invest elsewhere for a better return.

I think that you are spot on there. Since writing this question and reading the answers, my head is a lot clearer than it has been this weekend. A 5% yield is really not worth the hassle. Last year we paid out £600 for drainage problems on the rental property and once you factor in insurance and stuff then its not the best way to earn money.

Best thing has to be sell the rental property. I feel a bit of relief actually, at my age I need a quiet life, although living with a two year old Grandson doesn't fit that lifestyle!