Hi, bit worried about my financial position.
I've a number of properties in a small town in Munster rented out. Not much sympathy out there for landlords I appreciate though I'm a fair landlord and get on well with my tenants.
Owe about e1.4m, value about e1m. Value rising by about 100k pa at the moment.
One is a family home built on parents land though we are renting ourselves at the moment in another part of the country and it is rented out.
Mainly with P Tsb 13 years left, one mortgage with KBC 24 years left.
Paying interest plus a portion every month as agreed with both banks. Mostly trackers, 2 other high variables that are taking too much of the rest.
On poor wages, wife on better money and saves e300pm. Had properties before I met my wife.
If banks stick with me long term I should be ok but bit worried they might pull the plug. Maybe insolvency is an option, will speak to a PIP. Hugely important to me that we keep family home that we're not living in.
Most mortgages are tied, if I could get rid of the worst performing I could pay more off the better ones. Paying about 3k interest pm and about 1k pm in totals off capitals. Rent ca5kpm.
Banks not putting me under any pressure at the moment but concerned what could come down the tracks.
Any advice is welcome please.
I've a number of properties in a small town in Munster rented out. Not much sympathy out there for landlords I appreciate though I'm a fair landlord and get on well with my tenants.
Owe about e1.4m, value about e1m. Value rising by about 100k pa at the moment.
One is a family home built on parents land though we are renting ourselves at the moment in another part of the country and it is rented out.
Mainly with P Tsb 13 years left, one mortgage with KBC 24 years left.
Paying interest plus a portion every month as agreed with both banks. Mostly trackers, 2 other high variables that are taking too much of the rest.
On poor wages, wife on better money and saves e300pm. Had properties before I met my wife.
If banks stick with me long term I should be ok but bit worried they might pull the plug. Maybe insolvency is an option, will speak to a PIP. Hugely important to me that we keep family home that we're not living in.
Most mortgages are tied, if I could get rid of the worst performing I could pay more off the better ones. Paying about 3k interest pm and about 1k pm in totals off capitals. Rent ca5kpm.
Banks not putting me under any pressure at the moment but concerned what could come down the tracks.
Any advice is welcome please.
