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Pay off home or BTL
tunnel
Posts: 2,601 Forumite
My current fix is due to finish in march,currently 5.19% with the c+g and 16k left to pay(LTV is around 10%),i've also got a BTL mortgage with them for 75k fixed at 6.08% until may2010, with a LTV of 50%,thing is i have around 15K in ISA's fixed at 6.15% (plus enough in other savings) but that rate is due to expire in april and the rates aren't very favourable after that.currently as many would know c+g's svr is 3.5%,what i'd like to know is whether to pay off the home mortgage with the isa's or pay towards the BTL and let the home mortgage go to the svr,the BTL pays for itself but obviously the rate is much higher.I must admit i'm very tempted to pay off my home mortgage as the fixed rates around are higher than most isa rates that are available or does anyone know any different.What would you do?,i know it probably sounds a no brainer but put in this situation it does make you think twice! Any advice/input would be most welcome
2 kWp SEbE , 2kWp SSW & 2.5kWp NWbW.....in sunny North Derbyshire17.7kWh Givenergy battery added(for the power hungry kids)
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pay the money off your home mortgage .you get tax relief on the mortgage interest off the buy to let although not a lot its better than nothing.if you think peoples advice is helpfull please take the time to clicking the thank you button it gives great satisfaction0
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