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Renting your advice and experience.

jasoncfc
jasoncfc Posts: 14 Forumite
in House buying, renting & selling
Hi myself and my wife currently live in our 2 bedroom bungalow, which we have been in for 6 years our first property. We are both 27 and have £60,000 left on our mortgage currently @ 1.5% value approx £110,000. We are both looking to get ahead and want to keep this bungalow and rent it out when we move maybe 2yrs or so. We are overpaying the mortgage £290 per month, paying £525 off the capital each month.

Just wondering if others have any experiance of doing the same, any advice and guidance greatfully recieved.

Thanks
Jason

Comments

  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    you have checked that there are no Lenders penalties for overpayments over a certain amount have you ?
  • jasoncfc
    jasoncfc Posts: 14 Forumite
    We were on a 5 year fixed @ 5.69% this only allowed 10% overpayment now the fixed rate has ended its a variable 1% above the base rate with no overpayment limit.
  • jasoncfc
    jasoncfc Posts: 14 Forumite
    Anyone with advice?
This discussion has been closed.
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