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what is my best option?
Options
jedstones
Posts: 1 Newbie
I own a flat with no mortgage on it.
I have a buy to let interest only mortgage on another flat that I purchased using 60% of the valuation of the flat I own and 60% of the valuation of the purchased flat.
I rent them both out on 6 month tenancy agreements which are managed.
I am moving back into the area and need somewhere to live.
Should I sell the first flat and pay off the second flat mortgage and live in it. Thus having no rental income.
Buy another property and raise the another mortgage. still keeping two rental propertiesusing the rent to ofset the mortgage.
The problem lies with the interest only buy to let mortgage
Yours:)
I have a buy to let interest only mortgage on another flat that I purchased using 60% of the valuation of the flat I own and 60% of the valuation of the purchased flat.
I rent them both out on 6 month tenancy agreements which are managed.
I am moving back into the area and need somewhere to live.
Should I sell the first flat and pay off the second flat mortgage and live in it. Thus having no rental income.
Buy another property and raise the another mortgage. still keeping two rental propertiesusing the rent to ofset the mortgage.
The problem lies with the interest only buy to let mortgage
Yours:)
0
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