Yes .Would I really need a BTL if I'm not actually buying it?
If needed, is there a way to mortgage the unmortgaged house to raise funds for my own disposal (replaying balance of what is owed to family)?
We owe family 145k. They don’t want or need that money in the near term. We currently have 100k savings (their money essentially) sitting there doing nothing productive. We consistently add to our savings every month.
Our logic was to throw the guts of our savings at our mortgage in Dublin reducing the monthly repayments substantially (thus paying less interest and increasing our ability to save).
Then, the idea was, when the time would come when family look for their pound of flesh, we would like a way to raise that money (without selling either house).
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