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Skint_chick turns things around

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Comments

  • mummytofour
    mummytofour Posts: 2,636 Forumite
    Hiya,
    How about trying OU to keep your mind active?
    Debt free and plan on staying that way!!!!
  • Jesthar
    Jesthar Posts: 1,450 Forumite
    Heya chick,

    If you have that much free time on your hands, I'd head over to the competition forum here and get stuck in - it should eat up the time in an enjoyable way, and you never know what you might win!

    ~Jes :)
    Never underestimate the power of the techno-geek... ;)
  • skint_chick
    skint_chick Posts: 872 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 2 May 2011 at 5:13PM
    too much info
    "I cannot make my days longer so I strive to make them better." Paul Theroux
  • neas
    neas Posts: 3,801 Forumite
    mortgage isnt too bad. is that repayment or interest only?

    perhapd you could sell the flats to repay debt immediately and not be saddled with decreasing assets? houses are falling at the mo etc.
  • samboss0306
    samboss0306 Posts: 64 Forumite
    just wanted to say good luck with everything. xx
    Savings in 2019 £0
    Total savings £19,118
  • skint_chick
    skint_chick Posts: 872 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 2 May 2011 at 5:14PM
    oversharing
    "I cannot make my days longer so I strive to make them better." Paul Theroux
  • skint_chick
    skint_chick Posts: 872 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 2 May 2011 at 5:14PM
    oversharing
    "I cannot make my days longer so I strive to make them better." Paul Theroux
  • neas
    neas Posts: 3,801 Forumite
    need to bring him onboard too..i'd be very very worried about the BTLs being on Interest Only mortgages.

    House prices are falling at the moment, so you will have no equity i.e worth etc in them... and they will end up costing you in the long run... the profit they make is just not covering the fact they are losing 1% of their value every month.

    So you are losing 3.4k off the equity of your '3 houses' and gaining about 160 quid profit...... so really you just diving deeper and deeper into debt through this assets... Sure they can pay themselves but if rates go up higher in a couple years and your in neg equity itll be bad... really bad.

    I'd sell them if i could but thats me..
  • skint_chick
    skint_chick Posts: 872 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 2 May 2011 at 5:14PM
    oversharing
    "I cannot make my days longer so I strive to make them better." Paul Theroux
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