Advice investment 10 years to fire
Partner and I 49 TY. London based Have a 7 yr old. Key expenses - Private schooling + mortgage.
All financials for both hubby and I combined as unit below:
Pensions - £900k.
GIA/ ISA mix - £120k.
BTL 1 - £725k equity post tax/ cost of sales (£34k rent covers repayment mortgage, tax - no real income).
BTL 2 - £1m equity post tax/costs of sale (£54k rent cover tax, repayment and makes decent income - enough to cover half of private school fees- we wish to keep this house for daughter).
No inheritance to come as self made. Hence, keen to pass a good start to daughter.
Own home £745k mortgage + £500k equity. But needs work and needing £200k for it.
I do worry. Hubby works enough to cover our living. But we don't take holidays and livr a v tight life on the salary. So we can carry on repayments on properties.
I am trying to convince husband we need to sell BTL 1 to reduce mortgage burden and add to pensions / ISA/ gia. He says keep.
Any advice? Thanks
edited for all spell checks that made text read poorly