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Second home or buy to let?????

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  • diable
    diable Posts: 5,258 Forumite
    nicol1980 wrote: »
    The value of the property is £65000 and the mortgage amount is £23000. The LTV is very low. I also earn £40000 per annum

    Take out a loan and just pay it off asap.
  • nicol1980
    nicol1980 Posts: 16 Forumite
    Ninth Anniversary 10 Posts
    diable wrote: »
    Take out a loan and just pay it off asap.

    That's not really an option. I want the mortgage for 23 years and not at high loan rates. Remember this is a second mortgage so I have other commitments and can't throw a lot of money at it.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    nicol1980 wrote: »
    The value of the property is £65000 and the mortgage amount is £23000. The LTV is very low. I also earn £40000 per annum

    And what are the details of the first mortgage - where you live?
    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.
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