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Interest on mortgage over 4 years

penguine · 2014-02-26 10:35:50

We're trying to work out whether to sell a rental property we own outright and put the money towards our residential mortgage, or hold onto the rental property for a few years longer. So I'm trying to figure out how much we'd save in interest over the next 4 years on £170,000 at 2.79% (we have a fixed rate mortgage). I've…

Comments

Wh05apk Posts: 2,938 Forumite

26 February 2014 at 2:35PM

getmore4less wrote: »

A creative accountant may be able to find a way. though normaly you need a money trail.

Not necessarily, the "business" owes you the money, so you should still be able to offset upto the value of the property.

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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