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Let out, or sell up x2
Jamesp82
Posts: 2 Newbie
Thanks for any advice, I currently have to btl property's with at least 50% equity. I'm currently living in one with my wife and baby the other is let out for 550 pcm I make about 200 after the repayment mortgage. The question I need advice on is, would it be financially better to rent both house's to pay for a new family home meaning a 20k deposit or sell both house's giving a 120k deposit or keep one rental and sell one rental I'm thinking long term thanks again.
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Comments
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How much do you want to spend on your new family home?
Therefore how much deposit will you need?
If you keep any of the other properties are you prepared to pay the new stamp duty rates if you already own property.
What's your rental return on current property/ other property likely to be?Current Mortgage 01.10.17 £113,513.88
MFW Start Mortgage: £114,794.64
Current MED: 2036:eek: Target MED: 2026
Overpayment Target for remainder of 2017: £2,000
Mortgage overpayment savings: £684.80
MFW No 124 :money:0 -
how long is a piece of string?0
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You would have to pay an extra 3% stamp duty if you keep your buy to lets.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Probably look to spend up to 200k on a new family home, deposit wise probably 20k if I keep the other 2 houses. The other house should rent between 550 - 600 pcm thanks again0
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