Yes, he is. The disposable income criterion is not really relevant. The most important thing is to pay off the loan with the highest net interest rate after tax.My brother in law says pay off Inv no 2 as high int rate and it give sme 700 dis income. Is he missing anything?
inv 2 200000 40000 3.5 700 1050
They should not be that worrying. The rental income exceeds the monthly repayments, so they are contributing to your cash flow at the moment.Obviously numbers 4 and 5are worrying.
im confused LDFerguson, you state above "the tax relief available on interest on a buy-to-let mortgage is far more valuable to you than the relief available on the PPR mortgage"
but the Revenue website states;
What type of loan does NOT qualify for mortgage interest relief?
Mortgage interest on a loan taken out for investment, rental, secondary or any properties other than your main residence does not qualify for interest relief. Mortgage relief for rental properties as part of your business is available through the tax system and you should contact your local Tax Office.
However in a few years I may be expected to pay capital
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?