How much would that save you in interest payments?With the option of selling the house we could pay off the mortgage in cork
How much would that save you in interest payments?
Sorry, I should have been clearer - I was really thinking about the annual interest bill.The interest on this would be around 50k
While we don’t speculate on property prices here, I hope I may be allowed tell this anecdote.
In the mid 1990s we rented a small 2 bed house in a good area in West London. We discussed buying it or something similar but at £400k We considered it too expensive and we intended to return to Ireland.
Those houses are on Zoopla for £1.4million now.
I need advice whether to sell or rent out our property, We have 60k equity (bought for €140k and €80k left in mortgage) in it and savings of 30k, we both have a combined incomes of 66k and have permanent jobs, one of in public and the other in the private sector, but am now thinking should I rent out the property instead as there is a shortage of property in the area for rent. My husband has no pension so could hold onto the property until he retires and sell it then, my question is would the bank lend us the money to purchase a new house for say 250k based on our circumstances?
Thanking you in advance
Hi,would the bank lend us the money to purchase a new house for say 250k based on our circumstances?
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