Looking for advice please:
Employed in public sector
husband self employed
home mortgage 80k outstanding variable 2.5% rate value 350 k
rental property 179k outstanding on 2.75% rate purchase price 310k - update: probably around 300k
rented for 14 yrs, on low rate 1350 per /month stuck in rpz yield very low
(this is the property under FSPO investigation).
3 kids
Have some AVCs
Wondering if we should sell now, to pay off both mortgages. Won't be trading up again.
no shares / equity.
I probably make about 3-4 k net on rental income p.a. and not getting any hassle currently. Just afraid if new laws come in I won't be in a position to get out when I want to in the future.
We don't necessarily "need" to sell up now, just scarred from the crash, and afraid I'm "missing a trick" here with the sales market so strong...love to hear ideas / advice. neither of us have a financial background and are unsure of the best route ....just exploring options. TIA
Employed in public sector
husband self employed
home mortgage 80k outstanding variable 2.5% rate value 350 k
rental property 179k outstanding on 2.75% rate purchase price 310k - update: probably around 300k
rented for 14 yrs, on low rate 1350 per /month stuck in rpz yield very low
(this is the property under FSPO investigation).
3 kids
Have some AVCs
Wondering if we should sell now, to pay off both mortgages. Won't be trading up again.
no shares / equity.
I probably make about 3-4 k net on rental income p.a. and not getting any hassle currently. Just afraid if new laws come in I won't be in a position to get out when I want to in the future.
We don't necessarily "need" to sell up now, just scarred from the crash, and afraid I'm "missing a trick" here with the sales market so strong...love to hear ideas / advice. neither of us have a financial background and are unsure of the best route ....just exploring options. TIA
Last edited by a moderator: