Hi guys
We have a IP that is currently valued approx 80k below what we paid (dont bother, long story). Anyways, given that it may never produce any CG, should I have the repayments as p & I or should I move to interest only and focus on reducing some other personal loans in the hope that he'll might freeze over and we make some CG on his property in the very long run. Selling this property is not an option as it was our ppor and we intend one day later in life to perhaps return to that property.
Thanks for your thoughts
We have a IP that is currently valued approx 80k below what we paid (dont bother, long story). Anyways, given that it may never produce any CG, should I have the repayments as p & I or should I move to interest only and focus on reducing some other personal loans in the hope that he'll might freeze over and we make some CG on his property in the very long run. Selling this property is not an option as it was our ppor and we intend one day later in life to perhaps return to that property.
Thanks for your thoughts