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Sell or Rent

  • 04-10-2018 12:05am
    #1
    Lifehappens
    Registered Users, Registered Users 2 Posts: 1 ✭


    In 2007 my partner and I bought 3bed apartment for a lot, it is 30 mins from Connolly station by train, in a nice area. We got 100% on 2 incomes, my partner was on the highest wage. 2 months later she out of work and hasn't worked since. For 10 years we struggled on 1 wage, but never missed a payment, although we did get a reduction. Now I have a Job down the country. My option are
    1. Sell house, in 80K negative equity. Can I get any of that written off, or Can I transfer it to a new mortgage?
    2. Rent out property. In order to cover all cost including tax I would have to look for a very high rent, which I don't want to do.
    I was also wondering is there a way to rent out to charity and be exempt from tax. As long as my monthly repayments are met im not too bothered about making a profit. This would also reduce how much I rent it by roughly 600 a month, therefore giving it to a charity at a fair price.
    I don't want to avail of rent s room scheme.

    Any realistic options welcome.


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