S
Sprinkpark10
Guest
Can anyone help us with our decision, were building a house & moving a distance away from our current property which will become a rental property. We can't decide whether we should sell or keep the second property:
Details as Follows;
Age: 32
Spouse’s/Partner's age: 34
Annual gross income from employment or profession: Being made redundant!
Annual gross income of spouse: 60,000.00
Type of employment: e.g. Civil Servant, self-employed : civil servant
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home: 315,000
Amount outstanding on your mortgage: 348,000.00
What interest rate are you paying? Tracker Mortgage: 1.95%
Other borrowings – car loans/personal loans etc: none
Do you pay off your full credit card balance each month? Don't have one
If not, what is the balance on your credit card?
Savings and investments: € 25,000 + 50,000 redundancy
Do you have a pension scheme? yes
Do you own any investment or other property? The propoerty mentioned above would be the investment property & we are building a new house which will have a mortgage of 250k, so the question should we sell the house & pay off the negative equity with the redundancy or re-invest the money back into the house i.e making up the difference in the rent (€350 each month)& having money aside for months with no rental income.
Ages of children: 0
Life insurance: yes
Thanks a million
Details as Follows;
Age: 32
Spouse’s/Partner's age: 34
Annual gross income from employment or profession: Being made redundant!
Annual gross income of spouse: 60,000.00
Type of employment: e.g. Civil Servant, self-employed : civil servant
In general are you:
(a) spending more than you earn, or
(b) saving? Saving
Rough estimate of value of home: 315,000
Amount outstanding on your mortgage: 348,000.00
What interest rate are you paying? Tracker Mortgage: 1.95%
Other borrowings – car loans/personal loans etc: none
Do you pay off your full credit card balance each month? Don't have one
If not, what is the balance on your credit card?
Savings and investments: € 25,000 + 50,000 redundancy
Do you have a pension scheme? yes
Do you own any investment or other property? The propoerty mentioned above would be the investment property & we are building a new house which will have a mortgage of 250k, so the question should we sell the house & pay off the negative equity with the redundancy or re-invest the money back into the house i.e making up the difference in the rent (€350 each month)& having money aside for months with no rental income.
Ages of children: 0
Life insurance: yes
Thanks a million