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Hi guys - would really appreciate an objective view on the following situation.

I currently live in Israel and am 38 years old. I am a 'medium' earner and have a small savings account which I pay around 119 GBP every month. I only started this in December last year.

My assets are as follows:
1) Property in London worth 375,000 GBP. The mortgage is currently 223,000 GBP. It's an interest only mortgage with the ability to overpay. I currently have tenants and their rent is covering the mortgage.

2) Off plan Property in Tel Aviv which will be finished in 2017. I expect to have a mortgage of around 105,000 GBP although I can re-distribute the funds differently between the UK and Israeli mortgage if I choose. The property will be worth around 440,000 GBP once it is finished. Once the building starts in Sept. I will have to take out a interest only mortgage to cover the building.

Next year I expect the interest rate for my UK property to increase meaning that I won't be able to move on to a repayment mortgage as I wanted. As far as I see it I currently have the following options:

a) Redistribute the amounts on each mortgage so that I land up with a more even mortgage in both countries (they'll still be pretty big though and it'll be uncomfortable to pay more for my mortgage in Israel)

b) Sell the London property, pay off my Israeli mortgage and invest the rest;

c) Sell the London property and buy somewhere outside of London for much less and receive an income from the rent. The disadvantage will be having to manage a property from abroad;

d) Sell the London property and purchase a smaller property in Israel and receive the rental income;

5) Sell the London property and invest the sums in Israel or in the UK.

Would really appreciate some advice as I'm pretty confused. Thanks!
 
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