Should I sell investment properties?

Lawlessdj

Hi all,
We are looking to buy a new house looking at about 500k with a 25% deposit. We need to be smack bang in the middle of commuter belt unfortunately due to locality of parents.
My question is whether anyone could advise on whether it was worth selling two investment properties I bought ten years ago in th South west to up our buying power?
The two investment properties are one single bed (current price 110k no change in ten years!) with about 30k equity and costs about £100/mth after rental income to cover repayment mortgage. The second is a two bed (current worth £230k up £15k in ten years) own 50/50 with my brother and has approx 40k (20k each) but costs us approx £250/mth EACH after rental income to cover the repayments (not a great yield!).
So if I were to sell, bro ok with this, after fees etc I'd probably be left with in the region of mid 40k. Would you recommend taking this and putting into our new south east home as the south west properties don't seem to be making any money vs the investment (15yrs left on the flats)?

I hope that's clear as it's all a bit complicated!

Thanks in advance for your replies,

Lldj

amnblog

If the South West properties are not making capital growth why are you spending £6,000 a year to keep them?


If they are making capital growth why sell them?


70% v 75% products on the new place are not going to set your world alight in all probability.


One last thing to mention is that buy to lets in the background that are not self funding cause havoc with main residential mortgage applications.