hi,
Any opinions on below appreciated.
Have house down country which is in negative equity. The difference between what I owe and remaining mortgage is about €10k.
Have now to move to Dublin to work and renting place (at typical Dublin rates!).
So, for house down country considering whether to sell it or rent it. If I rent it I'll still have to pay a significant amount to cover monthly mortgage repayment. Mortgage is svr rate.
1) if selling would I have opportunity to 'keep/bring' mortgage with me so that if I could get a place in Dublin , and thereby could I avoid having to meet the 20% deposit criteria. Is there a way to bring the mortgage with you as such. (Ie sell the house and try buy apartment in Dublin and bring the mortgage with me ).
2) if I make a loss on house ( eg original price - today value), can I use that loss to offset against any theoretical gain I might make on share sale. Or are they two different types of taxes? ( eg sell house 2016 and make loss, sell shares 2016 and make profit , can these be written off against each other to offset tax on share gains? If so would it have to be done in the same year).
3) renting would have all the hassle and wouldn't come close to cover monthly repayments. Also now being in Dublin, I'm a long distance away for calling down to house etc. Any advantage at all to renting- bar not having to crystallise a loss on the house sale.
Thanks for any opinions etc.
Any opinions on below appreciated.
Have house down country which is in negative equity. The difference between what I owe and remaining mortgage is about €10k.
Have now to move to Dublin to work and renting place (at typical Dublin rates!).
So, for house down country considering whether to sell it or rent it. If I rent it I'll still have to pay a significant amount to cover monthly mortgage repayment. Mortgage is svr rate.
1) if selling would I have opportunity to 'keep/bring' mortgage with me so that if I could get a place in Dublin , and thereby could I avoid having to meet the 20% deposit criteria. Is there a way to bring the mortgage with you as such. (Ie sell the house and try buy apartment in Dublin and bring the mortgage with me ).
2) if I make a loss on house ( eg original price - today value), can I use that loss to offset against any theoretical gain I might make on share sale. Or are they two different types of taxes? ( eg sell house 2016 and make loss, sell shares 2016 and make profit , can these be written off against each other to offset tax on share gains? If so would it have to be done in the same year).
3) renting would have all the hassle and wouldn't come close to cover monthly repayments. Also now being in Dublin, I'm a long distance away for calling down to house etc. Any advantage at all to renting- bar not having to crystallise a loss on the house sale.
Thanks for any opinions etc.