Aug 8, 2013 -- 1:37PM, blackpood wrote:
I owe £180,000 on an interest only mortgage which only has a couple of years to run. I am 59. I have one house paid off which I rent out. The other house with the mortgage I live in. I heard that int only mortgages are not given much now. I don't want to sell either house. They have a combined value of around £750,000. Is there any ideas what my options might be, taking my age into consideration. My wife by the way is 62.
Surely the better option would have been to pay off/reduce the mortgage on the house you live in and reclaim the interest paid on the one you rent out as an expense
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