Myself and my husband purchased a house jan 2014, It needed some work doing to it and as we were not sure if we would like the area we said we would keep our previous house for 1 year and rent it out until we were sure. The work was completed on house no. 2 and house no. 1 has been rented out for nearly a year. We are not sure whether to continue to rent out house 1 or sell it and pay money towards mortgage on house 2.
House 1: 86k balance, mortgage amount 644.32. Rate ecb + 1.25%. worth 175k rented for 550 per month.
House 2: 126k org term over 35 years. 580 per month. rate was 4.59% but been reduced to 4.2%
Any advice greatly appreciated!
House 1: 86k balance, mortgage amount 644.32. Rate ecb + 1.25%. worth 175k rented for 550 per month.
House 2: 126k org term over 35 years. 580 per month. rate was 4.59% but been reduced to 4.2%
Any advice greatly appreciated!