My situation is as follows;
Questions;
p.s. great web-site, I fear I may not be as productive as usual if I stay on here too much..
- Mortage on our primary residence is €1250 pm and rising... €220k owned on it.
- Both wife and I are working, joint gross earnings €130k per year approx.
- We have a second home in west Dublin with €100k left on mortgage, its worth approx €380k. We rent it out at €1000 pm, mortgage on it is €900 pm.
- My wife would like to resign/take a long sabbatical for a few years as we have a young family.
Questions;
- Do you knowledgeable folks out there consider it prudent to take the money profitted to wipe off a significant portion of the mortgage...in an environment of rising interest rates?
- Any advise on what to invest in - renting out property is almost like having a parttime job, we'd prefer to consider alternatives to that..
p.s. great web-site, I fear I may not be as productive as usual if I stay on here too much..