How much do you get if you sell property after paying off a few mortgage repayments?
Do you get your additional deposit plus what you paid over the years? what if the property price increased, how does that work out ?
Answer
It depends on the price you sell it for, as far as profit/loss is concerned. most of the repayments in early years are swallowed up as interest, so you will see very little in the way of a reduction in how much you owe your lender. you need an increase in the selling price to offset expenses, before you can think about profiting. if you sell for less than you bought, then it will eat away your original deposit.
