Do you mean no net cashflow?no net income
Do you mean no net cashflow?
Do you have the option of transferring current tracker to your PPR? (Even if + 1%).
There's no way anyone can give you advice without knowing your overall financial circumstances, so a full money makeover might be best option.
i) to pay 1/3 of the loan of the house we live in and be mortgage free in the next 6/7 years,
ii) no cash in from that property (was ignoring the fact that 6K p.a comes off the capital)
If it's a long-term investment you won't reap the benefits for 20yrs or so. Isn't that really the decision you're making.
But you can take it at any time you decide to sell. You don't have to look at this as a 20 year investment.I'm 43 and there are another 20 yrs to go on the loan. You are right in the sense that the benefit will be reaped in 20 yrs times if all goes well.
No?
Any investment decision must be reviewed regularly.
If the OP decides to hold onto the property, he should review it in about two years to see if it is still the right decision.
Brendan
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