Advice please!

Yaz_2016 Posts: 24 Forumite
First Anniversary
edited 26 March 2021 at 1:26PM in Mortgage-free wannabe
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 :-)


  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Name Dropper First Anniversary First Post I've helped Parliament
    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..

  • Grabs39
    Grabs39 Posts: 364 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    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).
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