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buy to let cover
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nick_harwood
Posts: 2 Newbie
I have just started a buy to let mortgage. it will run over 19 years and at the end i will owe the same amount. what is the best insurance, cover or savings plan to pay off the amount in 19 years time. the amount is 72,000
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Comments
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I dont no anyone who would plan to keep a BTL for 19 years .
But if I where thinking that way I would have looked at a repayment mortgage . surely the point of BTL is to make money asap and get rid ,not to keep it 19 years .The only way you will ever be sure it will be paid is to get a repayment mortgage . History tells us endowments dont work .0 -
Hello Nick
What made you take the interest only mortgage? Was it to keep your rental income within the lenders 125% of mortgage payment requirements? Who is your lender? Have you checked the contract to see if you can make overpayments?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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