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Best option clear debt and pay least intrest

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  • Martico
    Martico Posts: 1,178 Forumite
    1,000 Posts Third Anniversary Name Dropper
    edited 5 April 2024 at 3:17PM
    (Liquid = readily available, like cash savings. As against illiquid (or non-liquid) assets, like property.)
  • sim2335
    sim2335 Posts: 588 Forumite
    Fourth Anniversary 100 Posts Name Dropper

    I mite have to sell it as tenants are moving out.


    And I need to redo for 5-7k and pay 834 a month for mortgate while it gets done and I find new tenants on top 90 a month for ground rent etc 


    How much would I get for selling it,would I make any profit or loss? 

  • enthusiasticsaver
    enthusiasticsaver Posts: 16,087 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    sim2335 said:

    I mite have to sell it as tenants are moving out.


    And I need to redo for 5-7k and pay 834 a month for mortgate while it gets done and I find new tenants on top 90 a month for ground rent etc 


    How much would I get for selling it,would I make any profit or loss? 

    It depends on the valuation, how quickly it sells and how much the mortgage is etc as to what if any profit/loss you make. You also need to consider capital gains tax. 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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