should i overpay mortgage

I have a £120,000 repayment mortgage and pay about £1000 per month. i have a shortfall of about £400 which i pay with savings, as income does not cover this. I have enough cash to buy a small buy to let property with my savings so I could have a rental income of about £500 which would cover the shortfall. Should I buy a property or spend this money overpaying mortgage. I think i have about 8 years left on it.


  • ThrugelmirThrugelmir Forumite
    86.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    In principle overpay the mortgage.

    What would you do if the BTL cost you money rather than generate a profit?

    What rate of interest are you paying on the mortgage?
    Real insurance claim quote : -

    "Going to work at 7am this morning I drove out of my drive straight into a bus. The bus was 5 minutes early.".
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