Just looking for a bit of advice.....
Need to look at interest only option for the next 18 months or so
Current Status :-
Investment Property 338,500 with 24 years remaining
PPR 646,615 with 24 years remaining
Both PTSB Mortgages
We can afford mortgage repays of 5,000 per month net of Mort Int Rel (100)
I am looking at two options, which way should we go ?
(a) PPR Prop 4.55% tracker over 24 years = 3594
Inv Prop 4.8% tracker over 24 years = 1354 (Int Only)
or
(b) PPR Prop 4.55% tracker over 24 years = 2352 (Int Only)
Inv Prop 4.8% tracker and reduce term to 15 years = 2642
Need to look at interest only option for the next 18 months or so
Current Status :-
Investment Property 338,500 with 24 years remaining
PPR 646,615 with 24 years remaining
Both PTSB Mortgages
We can afford mortgage repays of 5,000 per month net of Mort Int Rel (100)
I am looking at two options, which way should we go ?
(a) PPR Prop 4.55% tracker over 24 years = 3594
Inv Prop 4.8% tracker over 24 years = 1354 (Int Only)
or
(b) PPR Prop 4.55% tracker over 24 years = 2352 (Int Only)
Inv Prop 4.8% tracker and reduce term to 15 years = 2642