Hi all just wondering if any of you would be kind enough to make some comments on my situation and offer me some advice. All replies appreciated.
We are a married couple with combined income 118k. Cash Savings 110k and other savings shares etc 40k. We own a 3 bed apartment D13 with positive equity 50k roughly on a tracker of .25 above ECB rate with 130k left on mortgage. We have debts of 20k for car and marriage.
We are purchasing a home for 365k and hope to take mortgage of 275k.
I would like to keep apartment and rent out. Is this financially viable, would rent a room be a better way to go. The rental in area is about 1350 per month, Mgt fees 1320,
Thanks for your time.
Please give me your opinions about keeping tracker etc
We are a married couple with combined income 118k. Cash Savings 110k and other savings shares etc 40k. We own a 3 bed apartment D13 with positive equity 50k roughly on a tracker of .25 above ECB rate with 130k left on mortgage. We have debts of 20k for car and marriage.
We are purchasing a home for 365k and hope to take mortgage of 275k.
I would like to keep apartment and rent out. Is this financially viable, would rent a room be a better way to go. The rental in area is about 1350 per month, Mgt fees 1320,
Thanks for your time.
Please give me your opinions about keeping tracker etc