Hey,
Bought my house in late '06 for 240k. They eventually went up to 262k a little bit later.
Now at 210k, but then that's advertising so who knows what they would actually let one go for if anyone was feeling brave, you would imagine a good bit less.
My mortgage (Ulster bank Tracker - 40 years) is just under 215k. So it's great for me at the moment with the interest rates.
Put a lot of time and effort (and well over 30k) into the house and it's very well finished. Which hopefully will stand to me.
However, with budget, prospect of all mortgage interest relief (even for the first time buyers like myself) being abolished eventually and, in particular, my own employment circumstances, things are looking dodgy. When interest rates begin to come up again I could be in big trouble.
Anyway I'm contemplating offloading it for around the 200k mark and taking the hit now to protect myself from a much bigger hit in the next couple of years.
Now I'm well aware that no-one might touch it with a barge pole, but let's just say they would, what do people reckon?
Am I throwing the baby out with the bath water? It would be a calculated risk at best I suppose.
Also how much will I be handing over to the State in tax on any prospective sale?
Bought my house in late '06 for 240k. They eventually went up to 262k a little bit later.
Now at 210k, but then that's advertising so who knows what they would actually let one go for if anyone was feeling brave, you would imagine a good bit less.
My mortgage (Ulster bank Tracker - 40 years) is just under 215k. So it's great for me at the moment with the interest rates.
Put a lot of time and effort (and well over 30k) into the house and it's very well finished. Which hopefully will stand to me.
However, with budget, prospect of all mortgage interest relief (even for the first time buyers like myself) being abolished eventually and, in particular, my own employment circumstances, things are looking dodgy. When interest rates begin to come up again I could be in big trouble.
Anyway I'm contemplating offloading it for around the 200k mark and taking the hit now to protect myself from a much bigger hit in the next couple of years.
Now I'm well aware that no-one might touch it with a barge pole, but let's just say they would, what do people reckon?
Am I throwing the baby out with the bath water? It would be a calculated risk at best I suppose.
Also how much will I be handing over to the State in tax on any prospective sale?