There is a risk, but he can comfortably handle the riskyou are taking on a big risk here with a geared rental property
Ld I had very little interest in this investment from the beginning . I just jumped in at the time because my friend were doing it and I was convinced that I'd make a quick buck . I had no great interest in rates or length of mortgage and still have very little interest or understanding of the whole mortgage thing . I'm actually not sure ,to be honest whether the mortgage is for 20 0r 25 years . I did previously pay off a lump of 40,000 grand on the 240,000 I initially borrowed and was on interest only for the first few years .
Thanks very much for the replies Padraig and LD.
The subsidy isn't really causing any financial strain and up to now we haven't had too much hassle with letting the property or with tenants .
So ,in your opinions, should I hold on to the property ,as is, for now, and deal with the future in the future.
Thanks again
If you read the first half of this thread, it's sell, sell, sell.
If you read the second half of the thread, it's keep, keep, keep.
as he already has a house, but if he has a cheap tracker, it might be worth keeping.
If he has a SVR mortgage, probably get rid of it.
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