How long does a 2-year fix last?!

Ferrety_2

Because on consent to let the 1% loading made it a full % over my new btl, I'd never intended to move so had bumped my payments up to max level and term down to min and had overpayed enthusiastically for years. I've now popped the term back out by 7 years, borrowed extra to sort my own home which I recently bought by the skin o' my teeth and gone interest only, halving the monthly payment in the process.

Obviously, the intention is to overpay by the full rental income amount after building up a decent sinking fund, but a far smaller obligatory monthly payment makes things feel a lot less hairy in the case of void periods etc.

In other words, it's now a business that steadily pays off the mortgage rather than my previous home that I had to cut and run from for a new job while trapped mid-term on a wholly unsuitable product for letting!

So yes, you're right in as much as it's not exactly earning me my fortune, but it's now no longer a precarious financial liability, which is how I prefer my investments.