Tradefair & Financials
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28 Apr 10
18:01
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27 Jan 02
I have a standard variable rate offset mortgage with funds about equal to that owed on the mortgage. Assuming that I have a decent rate (took out mortgage 4 years back) and can secure a second property, should I bundle both mortgages to that one account or should I pay off the first mortgage now iyo please?
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If you find a property I would certainly borrow as much as yu can on your Offset mortgage as the rate is low.. Which lender is this with?
Remember, that offset mortgage is portable, so if you decide to move house in the future you can keep the same deal! If you do not have quite enough to buy a property outright, you could also get a small buy to let on the second property. Generally speaking , if you have a big deposit Buy To Let mortgages are getting much cheaper! |
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Chisel
If you had around 100k to invest for your 2 kids future (aged 5 and 3) would you buy in a tracker fund or buy a property with a small mortgage. Or would you try and do both. Looking really for around 5% growth year on year. Money would come out to pay school fees in around 5 years. I am not sure what to do. Thanks |
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Thanks Chisel! My mortgage was taken out with Teh Woolwich, now Barclays. Its more that we're moving and willing to let t'original home.
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test
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United
You can not knock Wioolwich offset. yu are probably paying about 0.5-0.7 above the base rate.. It is guaranteed to be set at that level for the whole mortgage term... Absolutely fantastic Barclays made 1.8 billin in first 3 months of the year!! WOW |
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"Teh Woolwich"!
United Biscuits and Chisel don't happen to be the same person, do they? |
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lol
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