D
hi
have you considered going interest only on everything and weather the "interest rate storm" for as long as possible ? even if you managed to last another two to three years owning all three properties, think of the additional equity you would have then earned from all three properties!
best of luck
you will have capital gains tax on any profit you make on the rental property that you sell. AFAIK this is pro rata so if it was not rented out the whole time you owned it you pay less CGT.
Rental yield on your partner's house if taken at value of 300k = 2.4%, if taken at mortgage owed 90k yield = 8%.
The yield on your house if taken at value of 200K =2.64%, if taken at mortgage owed 90K yield = 5.86%
Personally I'd sell your house to bring down the mortgage on your future home. The reason I'd do this is that the yield is higher on your partner's house
bought a third house between us for 340K (tracker for 30 yrs) but is worth 450-500K (bought from parents). All three mortgages together amount to 520K.
No need to go over the figures again.. you already did the calculation correctly but contradicted yourself in your advice., that's it.Don't have time to go over figures at mo but my opinion on what OP should do remains the same.
Hard to tell as you contradicted yourself (againAs I recall, I was correct in my calculation of yield on that other thread!!
Did you declare this gift (as that is what it effectively is) from your parents?
Hard to tell as you contradicted yourself (again?).
The thread is here for reference, interesting reading from Post#15 onwards...
room 305 said:If there was SD liabilities they should have been calculated on the market value of the home at the time of purchase even if they bought it for less than market value at the time.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?