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Investment Mortgage wise?

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  • 06-07-2005 3:24pm
    #1
    SouthO
    Closed Accounts Posts: 26 ✭


    Looking for advice on whether to change to an investment mortgage...
    I am currently paying for a mortgage on a 2 bed apartment but have since emigrated to the US and am wondering if it would be wise to switch this to an investment mortgage? The reason I am thinking of this is because I never intend coming back to live in this property and fully intend to sell it off in the next 5 to 10 years. Currently I am paying the mortgage PLUS another loan I needed to obtain to finance the remainder of the property at the time of purchase. The combined outgoings each month for the mortgage and the related loan currently cost me an extra 150 euros over what I take in from renting the property. So as you can see this is not very profitable for me at the moment.

    If I did switch to an investment mortgage is it possible for me to consolidate both these loans together to obtain one(my current mortgage plus related loan)?

    any advice appreciated. Thanks!!


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