We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
pay off mortgage or not
lilac_dawn
Posts: 265 Forumite
Please can someone advise: I have 2 properties, one which is BTL and has an outstanding mortgage on it. The other is repayment and has a very small mortgage, which I am now in a position to pay off. However, I am also likely to be facing employment soon, or at best temporary work. What I would like to do is to move back into the BTL property. This would mean switching from the BTL mortgage - but with no income, I don't think that is possible. I would then let out the 2nd property, which would have no mortgage on it. Is this possible? Is there any advantage in not paying off the mortgage at this moment in time? I should add, I have worked abroad for the last 12 months, but up until then had a good credit record.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards