i'll try keep this simple....here is my current situation financially. Now at the point of my life where i want a new home for my wife and I, how would you work this? What would you do ?.....PS Im 30 years old.
Residential Mortgage 125k
Residential Value 150k
BTL property mortgage 72k
BTL Value 105k
Current Savings 20k
im looking at houses around 200k/250k. My thoughts simply are sell my residential (hopefully 20k profit after fees) and add my savings (20k) to total 40k deposit. Leave my BTL as it is and dont touch the modest equity that i have, that will finance other BTL's in future , assuming capital appreciation.
Anyone have any other thoughts that may lead to a 'lightbulb' moment ?!
Residential Mortgage 125k
Residential Value 150k
BTL property mortgage 72k
BTL Value 105k
Current Savings 20k
im looking at houses around 200k/250k. My thoughts simply are sell my residential (hopefully 20k profit after fees) and add my savings (20k) to total 40k deposit. Leave my BTL as it is and dont touch the modest equity that i have, that will finance other BTL's in future , assuming capital appreciation.
Anyone have any other thoughts that may lead to a 'lightbulb' moment ?!