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Buy2let remortgage
MR54AKY
Posts: 1 Newbie
Hello,
I own a 2 bed terrace house, bought 2 years ago for £100,000, (valued at £125,000 as of March 2020) as a buy2let interest only as my pension pot. Outstanding mortgage is £76,300 Monthly fixed mortgage is currently £138 per calender month. I have a good tenant in situ for last 2 years. My fixed rate mortgage expires soon, need advice as to whether to take on another 2 year fixed mortgage or step up to a 5 year fixed mortgage. Have also noticed the lenders fees seem very high (£1995 plus) for this type of mortgage. Is that the norm? I have no intention of over paying or selling up. Your advice much appreciated.
I own a 2 bed terrace house, bought 2 years ago for £100,000, (valued at £125,000 as of March 2020) as a buy2let interest only as my pension pot. Outstanding mortgage is £76,300 Monthly fixed mortgage is currently £138 per calender month. I have a good tenant in situ for last 2 years. My fixed rate mortgage expires soon, need advice as to whether to take on another 2 year fixed mortgage or step up to a 5 year fixed mortgage. Have also noticed the lenders fees seem very high (£1995 plus) for this type of mortgage. Is that the norm? I have no intention of over paying or selling up. Your advice much appreciated.
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