2 Houses, some capital and I want to move house...

parkey

Registered User
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Hi - I hope I've posted to the correct category, I would appreciate any advise or help. Even if anyone knows any good financial advisers who would be able to deal with this.

I have two houses:

House 1. Mortgage €305k. Worth €200k. Interest only Tracker mortgage. Bought in 2000 for IR£170k. (Rented for €1200 a month)
House 2. Mortgage €220k. Worth €310k. Capital and Int. Tracker mortgage. Bought in 2007 for €455k (Live in this house)

Both houses

So jointly, I just about break even if I had to sell both tomorrow.
Both mortgages are with BOSI & such good mortgages.

My issue right now, is that for personal reason (health related) I need to move house to Dublin. I have approx. €150k in capital. The banks won't really lend me any more money - one back will give me about €50k but that's not enough to buy anything in Dublin.

Can anyone offer any advise on whether I'm better to sell a house? Ideally, I'd like to keep both houses and buy another as I expect these 2 houses will recover more over the next 5 - 10 yrs - are there any banks who would lend me money or any other options that anyone is aware of?

Thanks.
 
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