D
dazzleship
Guest
Hi,
First time to submit a thread so forgive me if you've seen this type of scenario before. I need some advice on the following:
I'm a 40 year old man who has no pension in place.
I have two houses; one I live in and the other i've rented for the last 6 yrs.
House one (my home) is valued at €380.000 (with a outstanding mortgage of €139.000)
House two (is rented out) is valued at €600.000 (with a outstanding mortgage of €122.000 (and this is the house we want to move to and live in)).
I'm thinking of selling my principal home now (thus saving on CGT) and with the balance of the sale I was going to pay off my 2nd property's mortgage, move in there and invest the remainder in a pension fund (if possible) while continue to pay what was the old mortgage payments, also into the pension.
The big question is: Am i better off leaving things the way they are or is this idea possible a winner?
Thanks in advance for your help/comments!
Dazzleship.
First time to submit a thread so forgive me if you've seen this type of scenario before. I need some advice on the following:
I'm a 40 year old man who has no pension in place.
I have two houses; one I live in and the other i've rented for the last 6 yrs.
House one (my home) is valued at €380.000 (with a outstanding mortgage of €139.000)
House two (is rented out) is valued at €600.000 (with a outstanding mortgage of €122.000 (and this is the house we want to move to and live in)).
I'm thinking of selling my principal home now (thus saving on CGT) and with the balance of the sale I was going to pay off my 2nd property's mortgage, move in there and invest the remainder in a pension fund (if possible) while continue to pay what was the old mortgage payments, also into the pension.
The big question is: Am i better off leaving things the way they are or is this idea possible a winner?
Thanks in advance for your help/comments!
Dazzleship.