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Paying off BTL
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Gam2015
Posts: 162 Forumite
What do other landlords do about paying off BTL's i currently owe 33k on my rental house current value around 75k. I have money in savings etc to pay the balance off in full if i wanted. But i am not sure what to do as obviously my mortgage has its benefits againt my tax return. Thanks.
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You will see the benefit decrease over the next coupe of years.
Landlords vary, some want to pay the mortgage off whilst working so when they retire they have the full rental income. Others want the income now so just leave it on interest only and then sell when they retire.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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