lulabelle1 wrote: »
Hi, I'd leave all of the B2L mortgages as they are and concentrate on paying down the mortgage on your own property.
For a few reasons:
-I'd prefer to have the roof over my head paid for as appose to the roof over my tenants head
-Despite the tax changes in recent years, it's still a benefit (when calculating self assessment) to offset mortgage interest against your tax bill.
Prof_Calculus wrote: »
I don't profess to be an expert, but do have 1 BTL and a residential mortgage.
We were advised by our mortgage advisor / financial advisor - that the priority for overpayment of mortagages should be the residential mortgage, as it is the roof over your head.
That said, we overpay on the residential mortgage from our salary and savings and make small overpayments on the BTL from any surplus/profit that the rent brings in.
So in theory, we overpay on both, but the priority is our home over our BTL.
Not sure if the above advice helps in anyway.
There’s a trick to extend them
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