So you have to sell this anyway in 7.25 years.
It's a profitable investment
Rental income: €18,000
Mortgage interest: €10,000 (€216k @4.5%)
Other expenses : €3,000
Profit: €5,000
After tax: €2,500
Although it's profitable, it's risky from a number of points of view
1) The biggest risk is that you may not be allowed to sell it empty. You may have to sell it with the tenants which will greatly devalue it.
2) The tenants may stop paying rent
3) House prices might fall
You are not financially resilient enough to handle these risks, so sell the property as soon as you can and while you are allowed to do so.
Brendan
Just to clarify pt 1 above..1) The biggest risk is that you may not be allowed to sell it empty. You may have to sell it with the tenants which will greatly devalue it. - Would this just be from our own financial perspective or would bank dictate same ? Sorry, just need to get clear in mnd what you mean, Thanks