Hi.
I am looking for advice regarding selling a 2nd house on a tracker rate of .6 above ecb with BOS. It was rented for a number of years but now tenants have moved out and I am thinking of selling. We originally lived in it for 10 years but bought 2nd house 2014. It was rented for €1200 a month but could get more I would expect if rented again(1500)
Value of house 330,000(paid 310000 in 2003)
Mortgage 180000 @ .6%. €770 a month.
2nd house we are living in. Value approx 480,000. Mortgage 260,000. Rate 3.2% ulster bank. €1600 a month
Age 39
Partner age 35 (no kids)
Income €60,000-public sector
Partner €100,000. Private sector.
My question is am I better off selling the investment property and putting lump sum off current mortgage. We are not looking at moving from this house.
I am paying nearly half of rental income over to revenue so the tracker mortgage is of no benefit to me really. I have wrote to pepper/bos looking for a discount if i sold but was shot down. I am thinking that I don't really need the hassle of being a landlord into the future.
Advice would be appreciated.
I am looking for advice regarding selling a 2nd house on a tracker rate of .6 above ecb with BOS. It was rented for a number of years but now tenants have moved out and I am thinking of selling. We originally lived in it for 10 years but bought 2nd house 2014. It was rented for €1200 a month but could get more I would expect if rented again(1500)
Value of house 330,000(paid 310000 in 2003)
Mortgage 180000 @ .6%. €770 a month.
2nd house we are living in. Value approx 480,000. Mortgage 260,000. Rate 3.2% ulster bank. €1600 a month
Age 39
Partner age 35 (no kids)
Income €60,000-public sector
Partner €100,000. Private sector.
My question is am I better off selling the investment property and putting lump sum off current mortgage. We are not looking at moving from this house.
I am paying nearly half of rental income over to revenue so the tracker mortgage is of no benefit to me really. I have wrote to pepper/bos looking for a discount if i sold but was shot down. I am thinking that I don't really need the hassle of being a landlord into the future.
Advice would be appreciated.