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    • ARCLIJ
    • By ARCLIJ 9th Sep 17, 2:59 PM
    • 2Posts
    • 0Thanks
    Mortgage free or keep rented property
    • #1
    • 9th Sep 17, 2:59 PM
    Mortgage free or keep rented property 9th Sep 17 at 2:59 PM

    Myself and my husband own a property and also rent out another property which we have a mortgage on. Our original plan has always been to keep the rented property as a retirement pension as my husband is self employed. We currently have 18 years left on each property and the value of the rented property has gone up which means if we sold it we could pay off the mortgage on our own home. We need to decide whether to be mortgage free or keep the rented property. Just wondering on peoples views on this?
    Many thanks
Page 1
    • dark^knight
    • By dark^knight 20th Sep 17, 3:16 PM
    • 469 Posts
    • 956 Thanks
    • #2
    • 20th Sep 17, 3:16 PM
    • #2
    • 20th Sep 17, 3:16 PM

    It really depends on your mid to long term plans.

    One option maybe to re-mortgage the rental property in order to pay off the mortgage on the house you live in.
    Aiming to be mortgage free by Dec 2018.
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