M
mav
Guest
Hi All,
Have a primary resisdence, a rented house and an apartment abroad which i hope to rent out shortly. Rented house mortguage of 167000 worth 315000, interest only mortguage of €550 monthly and rent is €950. Owe 50,000 to father for apartment abroad, no rent yet as not built but can expect only €5-6000 per year. Have 25000 cash at moment.
Owe 359000 on my primary residence, worth I think about €450000 and would like to reduce as am paying interest only at the moment but will shortly have to pay principle also. I want to remortgage the rented property on an interest only mortguage and use the money to pay off either the apartment or my primary, will also use the cash aswell to reduce loans. Both the Irish properties are interest only and fixed until Nov 2008. Have great rates at the moment, I think I am nearly costing the banks at the as they were fixed at rates from 2005.
What do you guys think I should do?
Have a primary resisdence, a rented house and an apartment abroad which i hope to rent out shortly. Rented house mortguage of 167000 worth 315000, interest only mortguage of €550 monthly and rent is €950. Owe 50,000 to father for apartment abroad, no rent yet as not built but can expect only €5-6000 per year. Have 25000 cash at moment.
Owe 359000 on my primary residence, worth I think about €450000 and would like to reduce as am paying interest only at the moment but will shortly have to pay principle also. I want to remortgage the rented property on an interest only mortguage and use the money to pay off either the apartment or my primary, will also use the cash aswell to reduce loans. Both the Irish properties are interest only and fixed until Nov 2008. Have great rates at the moment, I think I am nearly costing the banks at the as they were fixed at rates from 2005.
What do you guys think I should do?