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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage options
007james
Posts: 46 Forumite
I have the means to pay off a 40K mortgage which now needs to be a Buy to let as the property is rented out. My endowment pays out in 5 years time. I have several options:
[*]Remortage on a fixed rate BTL and put savings in a higher rate fixed term bond account
[*]Pay off mortgage
[*]Offset BTL mortgage with savings ( not sure which bank does these)
As interest payments are no longer tax deductible on rented properties, I'm really not sure which option to take.
[*]Remortage on a fixed rate BTL and put savings in a higher rate fixed term bond account
[*]Pay off mortgage
[*]Offset BTL mortgage with savings ( not sure which bank does these)
As interest payments are no longer tax deductible on rented properties, I'm really not sure which option to take.
0
Comments
-
I have the means to pay off a 40K mortgage which now needs to be a Buy to let as the property is rented out. My endowment pays out in 5 years time. I have several options:
[*]Remortage on a fixed rate BTL
[*]Pay off mortgage
[*]Offset BTL mortgage with savings ( not sure which bank does these)
As interest payments are no longer tax deductible on rented properties, I'm really not sure which option to take.
Silly question, what if savings exceed mortgage. How does offset work?
Thats just plain wrong.
0 -
What's plain wrong?0
-
-
Are you a higher rate taxpayer?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards