Last edited: 9 May 2018 I have been a longtime lurker and have found the forum invaluable over the years. I need some advice Age: 40 Spouse’s/Partner's age: 35 Annual gross income from employment or profession: 55000 Annual gross income of spouse: 52000 Monthly take-home pay 5400 Type of employment: e.g. both public sector In general are you: (a) breaking even (b) not saving Rough estimate of value of home House 1- PPR - 350000 Amount outstanding on your mortgage: House 1 - PPR - 200000 What interest rate are you paying? House 1 - 3.2 Other borrowings – car loans/personal loans etc No car loans and 2 x 3/4 year old cars Do you pay off your full credit card balance each month? Sometimes If not, what is the balance on your credit card? 500 Savings and investments: Some shares in credit union 2.5 k Do you have a pension scheme? public pensions schemes Do you own any investment or other property? House 2 - Rental -Paid 220000 - Value 120000 mortgage - 130000 (750 pm mortgage) rental income 680 pm. PRTB registered and tax up to date House 3- Rental - Paid 300000 - Value 205000 mortgage -170000 (1100 pm mortgage) rental income 900 pm - This is a joint mortgage with a third party. House 4- Just inherited and going through probate will be sold and our share should be roughly 130000-140000k House 2 - Tracker (0.6%) roughly 18 years remaining House 3 - Tracker (0.8 %) roughly 12 years remaining House 4- NA Ages of children: 7 & 9 Life insurance: Mortgage protection on PPR and some union and credit union cover. widows and orphans through work What specific question do you have or what issues are of concern to you? Do you think we are over stretched with our finances? What should I do regarding property 3 ? The third party has offered to buy me out of our 2006 agreement. The signed agreement is that either one of us purchases the property from the other party or we sell the property on the open market. The third party still wants out if I do not sell. Therefore I will have to take over the full mortgage. The bank will allow a joint to joint or joint to sole with no change on the terms mortgage product if I can satisfy there terms. I have invested roughly 60 k in 2006 in this property. The property is on a very good tracker mortgage and not in negative equity. I will soon inherit 130/140 k which would potentially allow me take over the full investment or would I be better of getting out and selling to the third party. I was hoping to recoup some of my initial investment as the market is rising and the house is in a good location, easy to rent and taking a longer term view to recoup my investment What do you think are my best options ?