Overpay Interest Only BTL's or Credit Cards?

BigLad_2

Hi,

I'd appreciate peoples opinions on this question please:

I have two interest-only BTL's (zero headspace in the LTV's). Rental income on each is £ 380 per month, and mortgage payment on each is £160 per month on the latest interest rate (2.75% - Mortgage Express).

I could overpay the interest only BTL's to the tune of £ 100 per property per month. Alternatively I could pay down some credit card debt with the £ 200 per month.

The cards are 15K debt on life of balance cards with rates between 5.9% and 8.9%.

I'm not sure which is best to overpay - the cards or the BTL mortages?

Opinions appreciated.

Cheers

Jon.

Gorgeous_George

Easy, clear the cards first.

Interest on the BTL mortgages can be offset against rental income for tax purposes AND they offer the lowest interest rates in your debt portfolio.

I'm surprised you needed to ask.

GG

BigLad_2

Lol. Always worth asking George, just in case I was missing something.

If I knew my stuff I wouldn't have gotten into half the hot water I'm in :-)

Thanks for your response mate.

Cheers

Jon.