mortgage or loan or what

higlufc

having moved in with my now wife and having rent my house after 3 years halifax want £599 to change my mortgage to a buy to let. I only owe £23000 and want to pay it off in 5 to 6 years what are the best options for me.:j

abouttimetoo

Hi Higlufc, welcome to the board

I think we'll need a bit more information before we can help you

Things of interest would be what is the interest rate you are paying? Presumably if you have moved the mortage to buy-to-let it is now an interest only? If you are going to overpay the mortgage you need to be careful if you are using 'profits' from the rental to do this as I believe there is tax implications

Do you have other debts with higher APR's which might benefit instead of the mortgage, things like loan, car loans, cards etc

Do you have an idea of how much you could commit per month

By the way, I think you are pretty lucky to have got away with your mortgage provider not making you switch to BTL three years ago. Have you got all the correct landlordy type things like landlords insurance etc etc?

Sorry, far more questions than answers at the moment