Hi
I am looking in to sell my rental property to my Limited company (it’s a closed company)
Limited company profit €450,000
Market value of the rental property €430,000
Mortgage balance is €260,000
Equity €170000
It’s on tracker mortgage, interest rate has gone up to 6%.have to pay €500 out of my pocket per month to pay the mortgage.
I am thinking of selling it to my company
Releasing the equity and pay off the mortgage of my primary residence.
Do you think it’s good idea.
I am looking in to sell my rental property to my Limited company (it’s a closed company)
Limited company profit €450,000
Market value of the rental property €430,000
Mortgage balance is €260,000
Equity €170000
It’s on tracker mortgage, interest rate has gone up to 6%.have to pay €500 out of my pocket per month to pay the mortgage.
I am thinking of selling it to my company
Releasing the equity and pay off the mortgage of my primary residence.
Do you think it’s good idea.