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neoquip	posted on 2nd Dec 08 at 22:10
	also you get tax relief on the mortgage, so theres no point paying it off.
dannymccann	posted on 2nd Dec 08 at 21:13
	I see your point :thumbs: I need to know all this kind of shit for in a couple of years
neoquip	posted on 2nd Dec 08 at 18:42
	quote: Originally posted by dannymccann Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt? cus when you have BUY TO LETS you get a mortgage that has the lowest repayments.. ie: you only pay the interest on the loan. then it gives you more return on the rent. the idea is you never pay the 'loan' off unless you sell the property... at a profit.. less capital gains tax!
a_j_mair	posted on 2nd Dec 08 at 13:22
	one of my mortgages has just dropped £100 :) happy days
Brett	posted on 2nd Dec 08 at 11:27
	quote: Originally posted by dannymccann Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt? 1) It's cheaper than renting 2) Before all this shit happened, you could sell you property for more and pay off some of the debt. It used to be that you could strategically buy/sell and pay off your house in a few years.
dannymccann	posted on 2nd Dec 08 at 11:23
	Why arent you guys repaying capital and interest? Surely you are simply paying for the pleasure of having debt?
neoquip	posted on 1st Dec 08 at 22:22
	quote: Originally posted by corsa5dr 6 Months ago Iwas paying £450, now I'm paying £260 following the interest rate drops. Happy days (£112K mortgage - interest only) what % rate are you on now? I've got a BTL mortgage that went from £338 to £535-ish this summer afterthe thee year fix rate eneded. had letter this weekend teling me it's down by 1.5% to 4.99% = £360 a month! :) thats at £89k interest only
corsa5dr	posted on 26th Nov 08 at 16:29
	6 Months ago Iwas paying £450, now I'm paying £260 following the interest rate drops. Happy days (£112K mortgage - interest only)
J da Silva	posted on 22nd Nov 08 at 00:02
	Having no mortgage FTW :lol: All I want is my water rates and fuel bills to come down, oh and Diesel to go down to £2.50 a gallon. :lol:
Colin	posted on 21st Nov 08 at 19:32
	Yeah my fixed rate ended in June & I never bothered to change as the new mortgage package was 500-1000, & my payments only increased £20!
Russ	posted on 21st Nov 08 at 19:26
	fixed rate ftl :(
Colin	posted on 21st Nov 08 at 19:03
	Lloyds TSB mate.
Cosmo	posted on 21st Nov 08 at 18:42
	Who is that with? Great news though - although now £50 extra for Jade to waste on shoes a month :look:
Twiggy	posted on 21st Nov 08 at 18:40
	Just need the rest to follow suit!
Colin	posted on 21st Nov 08 at 17:25
	Im getting the 1.5% interest drop passed to me. Now £50 a month better off (my mortgage is very small!!) well better than nothing!! Think im now meant to go daft & pump my savings back into the crumbling ecconomy :o Credit Crunch FTW:cool: