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Btl`rs Talking Amongst Themselves Here.!

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This advice from semiproinvestorTim1 in relation to making overpayments on a BTL mortgage:

I don't see the point in making repayments as long as your debt is being serviced... How much of a dent is £60 a month really going to make into your mortgage? It may bring your mortgage down by 7K over the next 10 years but the real way to pay off your debt is to take that spare cash and leverage it against other property (or other investments) to make a larger profit

How I am going to laugh when his type get their dues :lol:

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How I am going to laugh when his type get their dues :lol:

I wish, unfortunately they have no skin in the game to lose. Much more likely that we pick up the tab (see Bradford and Bingley).

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Jeffo says......

I have several interest only mortgages. Recently the difference between int only and repayment has been relatively negligible. I have taken out the repayment deals for several reasons. The deciding factor for me was that I can alter it to interest only at a moments notice which is a godsend when you are worried about the base rate going back to 5% and the bank taking 4.5% over that to line their greedy pockets. As a general rule though, I have always been led to believe it to be financially better to have int only and make overpayment's, but in truth I have never made an overpayment and cannot be bothered finding out how.

:D

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Apart from those advocating leveraging to the max it would make sense leaving it on interest only and paying your own debt [mortgage] down. The reason is you can offset the interest payments against tax.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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