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Not sure what to do
boo81
Posts: 654 Forumite
Hi
I wonder if anyone can help, ive got so many figures running round my head.
Ok so basically myself and my husband live in military accommodation and own a house which we rent, when he leaves the military we plan to get a house but we would probably have to sell the other one to have enough money to pay a deposit.
So other finances - we have a car loan, which is £270 a month for 2 more years and we have another loan with around £6500 left. The interest is roughly the same for both.
The dilemma is my dh is going to get a bonus of around £3500 soon, what would be our wisest choice for using this money? We can't pay anything off completely or we could put more money on the mortgage.
I wonder if anyone can help, ive got so many figures running round my head.
Ok so basically myself and my husband live in military accommodation and own a house which we rent, when he leaves the military we plan to get a house but we would probably have to sell the other one to have enough money to pay a deposit.
So other finances - we have a car loan, which is £270 a month for 2 more years and we have another loan with around £6500 left. The interest is roughly the same for both.
The dilemma is my dh is going to get a bonus of around £3500 soon, what would be our wisest choice for using this money? We can't pay anything off completely or we could put more money on the mortgage.
0
Comments
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If your debts are serviceable at present, I would save the £3500 and use it to increase your deposit on your next house.
I may be wrong though !0
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