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Co-Ownership (Remortgage/Sell)
dww100
Posts: 4 Newbie
Hi
I am a first timer owner of an apartment. I went through the Co-Ownership (Northern Ireland) Scheme on a 50/50 bases.
The apartment was bought for £60,000 (I got it as a steal)
£27,000 Mortgage (10% deposit)
£30,000 Co-Ownership
I am coming to the end of my two year mortgage term. I had the property valued and the estate agent says its within the region of £80,000
Do you think its better to remortgage and buy back remaining 50% from co-ownership?
Or
Sell the apartment, make £20,000 profit minus Co-Ownership share and use the cash sum for the next deposit on a house.
What is the more straight forward/simplest ways?
I am a first timer owner of an apartment. I went through the Co-Ownership (Northern Ireland) Scheme on a 50/50 bases.
The apartment was bought for £60,000 (I got it as a steal)
£27,000 Mortgage (10% deposit)
£30,000 Co-Ownership
I am coming to the end of my two year mortgage term. I had the property valued and the estate agent says its within the region of £80,000
Do you think its better to remortgage and buy back remaining 50% from co-ownership?
Or
Sell the apartment, make £20,000 profit minus Co-Ownership share and use the cash sum for the next deposit on a house.
What is the more straight forward/simplest ways?
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