Aug 8, 2013 -- 7:37PM, 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
You need to open an account before you can add content to the forum.
Opening an account only takes a few minutes.