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to remortgage or not
Magnet8
Posts: 1 Newbie
I have an interest only tracker mortgage @ 0.79% which comes to an end mid next year.I am retired(65) and have funds in ISAs and Bonds to repay the £96K morgage.
The quandry is will the return on this investment be greater than the repayment amount on a remortgage for either a 2 or 5 year term or is there another way to approach it.
The quandry is will the return on this investment be greater than the repayment amount on a remortgage for either a 2 or 5 year term or is there another way to approach it.
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Comments
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Depends on a number of factors Magnet
Loan to value
Your tax situation
Accessibility of funds
Long term plans
Attitude to riskI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
If you intend repaying the debt over a 2 or 5 year term. Then you are leaving yourself open to major fluctuations in the market. As I assume that you'll need to liquidate investments to find the capital required. Personally I would start liquidating now on a progressive basis. Take the opportunity to review the portfolio selling the dogs and top slicing the investments that have performed exceptionally well.0
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