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Corsa Sport » Message Board » Off Day » House Day » Letter from my mortgage provider » Post Reply
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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: | |
neoquip |
posted on 2nd Dec 08 at 18:42 |
quote: 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 :) | |
Brett |
posted on 2nd Dec 08 at 11:27 |
quote: 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: 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 | |
J da Silva |
posted on 22nd Nov 08 at 00:02 |
Having no mortgage FTW :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. |