Mortgage....to buy out or not?

samie18_2

We bought a house 5 years ago. It was a new build property.

We were first time buyers so wanted as much help as possible.

We took a deal where they own 25% of the house but we don't pay any rent to them we just had to pay them off within 10 years.

One hand I feel it's a interest free loan so wait the 10 years

On the other I think pay them off now before another 5 years of the house price increasing so they get more back (they get 25% of the value at the time, not what we bought at)

Then I also think wait as you don't know what will be in 5 years and the prices maybe be more maybe not plus I'll have paid 5 years more off my mortgage so the increase in payment won't be much more!

Confused

Any thoughts?

dimbo61

Hard one to judge.
Look at the area you live in, local sales and demand ?
Lots of new builds going up locally ?
New train station, motorway, regeneration.
Commute distance to London or other big city doing well Oxford, Edinburgh, etc.
You still have 5 years left at 0% before you have to start paying But if you have the money now earning 1/2% then pay it off and build up the equity in your home.