Hi All,
My PPP is a 1 bed Apartment : Outstandng Debt: 314k, Monthly Payment: €1180 and interest rate of 2.6% over 34 years.
Negative equity estimate: 140k
Service charge 1400 per year
Investment Property: 3Bed Semi - Outstanding Debt: 250k, Monthly payment 1390, rate of 2.6% over 19 years. Rental income = €900
Negative equity estimate: 50k
I have savings of approx 50k
I am single and currently in fulltime employment
The negative equity is high and my monthly outgoing is approx 1600 pm. My investment property is nowhere near washing its face however I have some savings that could be used to reduce debt&repayments
I was planning to use both places as a pension investment in the future
On looking at my figures does anyone have opinions or good advice on what I should do next to manage this with minimum cost to me over long term
Thanks in advance
My PPP is a 1 bed Apartment : Outstandng Debt: 314k, Monthly Payment: €1180 and interest rate of 2.6% over 34 years.
Negative equity estimate: 140k
Service charge 1400 per year
Investment Property: 3Bed Semi - Outstanding Debt: 250k, Monthly payment 1390, rate of 2.6% over 19 years. Rental income = €900
Negative equity estimate: 50k
I have savings of approx 50k
I am single and currently in fulltime employment
The negative equity is high and my monthly outgoing is approx 1600 pm. My investment property is nowhere near washing its face however I have some savings that could be used to reduce debt&repayments
I was planning to use both places as a pension investment in the future
On looking at my figures does anyone have opinions or good advice on what I should do next to manage this with minimum cost to me over long term
Thanks in advance