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Buy to Let / Commerical Advice
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smileyBaldyBloke
Posts: 11 Forumite
I currently have a commercial / 'buy to let' mortgage on a property for circa £200k. The repayments are cheap(ish) about £1,100, but I hardly reduce the capital amount.
I want to re-mortgage which 'performs better' and pays off more - any advice?
I want to re-mortgage which 'performs better' and pays off more - any advice?
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Comments
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What is the property value and what is the rental income? I assume therefore you have the BTL on a repayment basis as opposed to interest only - is that correct?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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The property is worth circa £330k and the rent is £1,500 pcm.
It's currently on a repayment with UCB Homeloans.0 -
Forgot to ask what rate you are onI 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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6.49% And The Payments Are £1,349 Per Month0
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Will send you a pm, as there are some better schemes, but I will need more information that I am not sure you will want to post on the boardI 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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