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invest in property or pay lump off mortgage?
mnoden
Posts: 3 Newbie
hi there
can anybody give advise on wether i should pay a lump off my mortgage or invest in buy to let
we have a mortgage of £335000 with an interest rate of 2% above base
for 25 years with no charges for over payments
i have a lump sum of £60000 i am thinking of investing in a buy to let for around £80000 and would expect to get £450 pcm return
is this a good idea or should i just pay it off the mortgage?
can anybody give advise on wether i should pay a lump off my mortgage or invest in buy to let
we have a mortgage of £335000 with an interest rate of 2% above base
for 25 years with no charges for over payments
i have a lump sum of £60000 i am thinking of investing in a buy to let for around £80000 and would expect to get £450 pcm return
is this a good idea or should i just pay it off the mortgage?
0
Comments
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What are your plans for repaying your main mortgage?0
-
our current mortgage is a repayment and i was thinking a repayment on the buy to let as it would be paid off at the end of the terms
id still have the outstanding with an interest only
which is best?0
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