whether to keep or sell buy to let house

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debra_199
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any ideas/advice welcome...
I have a buy to let house worth around 180k and mortgage remaining on it at about 61K. did live in it for 5 years then let it out. bought another house with my partner (now ex) and it is worth around 220k mortgage remaining 146K. trying to decide whether to keep buy to let or sell on. have to buy my ex out of joint house probably around 35K max to pay him off. have savings of approx 30K already so almost there. was going to try and keep both properties going as can manage the mortgages on both as rental income more than covers the buy to let mortgage. even if I can remortgage both houses bit worried about tax implications on the buy to let when come to sell in the future.

would love to hear advice from people as just don't know whether I should just sell buy to let and cash in or keep it as it just ticks along with no problems. am thinking if there was no mortgage on buy to let it probably would make me less worried.

comments please on the above........if you are an accountant or property expert or financial advisor even better........

01/01/2011 00:00

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