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Advice please!
Yaz_2016
Posts: 24 Forumite
Hi guys, I would like some advice please. I have two mortgages one at 1.45% interest rate (repayment mortgage 25 years) and a buy to let (25 years) at 2.25% and it's interest only. I am intending to keep both properties and would like to start my mortgage free journey with one of the mortgages. I am really not sure which one to overpay and any advice would be greatly appreciated :-)
1
Comments
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Highest net rate is the obvious one
There may be reasons to keep the BTL one going, its your business so you should know if there are any..
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I’d be paying off the BTL one if I were you, if only because it has the higher interest rate.
Assuming there are no fees etc for repayment.
Besides the residential mortgage will be paid off one-way-or-the-other, whereas the BTL will never be paid off otherwise (depending on what plans you have to pay it off).0
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