C
Conn
Guest
Hi,
I have recently sold an overseas property and have 90k cash ( sounds great but I invested 190k). I also have saved hard over the last 5 years and have managed to salt away 110k.
My mortgage is coming to the end of an IO .5 over ecb tracker with NIB to the value of 900k. the house is valued at 650k.
My repayment on this today is only just over 1k pm. It will however rocket after shifting to capital & interest and I will be up the creek when interest rates eventually rise.
I also have two RIPs with a combined value of 350k and combined mortgages of 500k. Both on an IO forbearance deal and yielding a rental profit of 700pm.
I have my own business and my income is variable but over all business is ok. I managed to earn 170k last year gross and this year I should do 190k. The wife works part time and earns 20K pa gross.
We have three young children and pay around 1000 pm in crèche fees. No other debts at all.
Thinking about what to do with this cash and looking for a way out over time. The negative equity on the RIPs and my Jumbo mortgage has me freaked.
What would you do?
I have recently sold an overseas property and have 90k cash ( sounds great but I invested 190k). I also have saved hard over the last 5 years and have managed to salt away 110k.
My mortgage is coming to the end of an IO .5 over ecb tracker with NIB to the value of 900k. the house is valued at 650k.
My repayment on this today is only just over 1k pm. It will however rocket after shifting to capital & interest and I will be up the creek when interest rates eventually rise.
I also have two RIPs with a combined value of 350k and combined mortgages of 500k. Both on an IO forbearance deal and yielding a rental profit of 700pm.
I have my own business and my income is variable but over all business is ok. I managed to earn 170k last year gross and this year I should do 190k. The wife works part time and earns 20K pa gross.
We have three young children and pay around 1000 pm in crèche fees. No other debts at all.
Thinking about what to do with this cash and looking for a way out over time. The negative equity on the RIPs and my Jumbo mortgage has me freaked.
What would you do?