I bought an apartment in Dublin in 2006 with my husband.
We moved to the UK during the financial crisis (could not get a job in Ireland) and have been renting the Dublin property since.
Mortgage is with PTSB (Tracker) remaining loan 254K. Properties like mine are on Daft.ie for sale at 230/240k. So, still in negative equity but not too much considering apartment was worth 170k at one point.
Husband now wants to get rid of it and maybe buy in the UK.
Property is renting at 1100pm (we could get more, but have good tenants) and that covers all the expenses (mortgage, managment fee and mortgage protection).
Husband thinks we should get rid of it before it becomes too old and more and more work (and money) will be required.
Is he crazy? Mortgage interest rate is currently 1.15%.
Selling would involve some costs as well (legal fees, estate agent, etc..)
Also would it be possible for us to get a second mortgage in the UK?
Thanks a lot for any replies!
We moved to the UK during the financial crisis (could not get a job in Ireland) and have been renting the Dublin property since.
Mortgage is with PTSB (Tracker) remaining loan 254K. Properties like mine are on Daft.ie for sale at 230/240k. So, still in negative equity but not too much considering apartment was worth 170k at one point.
Husband now wants to get rid of it and maybe buy in the UK.
Property is renting at 1100pm (we could get more, but have good tenants) and that covers all the expenses (mortgage, managment fee and mortgage protection).
Husband thinks we should get rid of it before it becomes too old and more and more work (and money) will be required.
Is he crazy? Mortgage interest rate is currently 1.15%.
Selling would involve some costs as well (legal fees, estate agent, etc..)
Also would it be possible for us to get a second mortgage in the UK?
Thanks a lot for any replies!