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Buy to let or own outright
Lew899
Posts: 1 Newbie
With approx £20,000 owing on house that I want to rent out is it best to transfer over to a buy to let mortgage or just pay off the mortgage and then rent it out?
0
Comments
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You can claim tax relief on mortgage interest so financially it's better to have a mortgage but with it being a relatively small amount I'd be tempted to pay it offJan 2010 - Overdraft £9,500 / Credit Cards £5,000 / Loan £9,500 / Mortgage £128,000
Jun 2010 - Overdraft £0 / Credit Card £0 / Loan £0 / Mortgage £125,250
Oct 2011 - Overdraft £7,000 :mad: / Mortgage £115,295
Dec 2014 - Overdrafts 15,000 / Credit Cards 16,000 / Loans 25,000 / Cars 18,000 / Mortgages 232,5000
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