My BTL...

[scooterscot]

What would you do?

I want to port the mortgage that is on my BTL [I've done it once before] to my main residence, mostly because it's 0.49% above base rate.

This would mean that I sell the BTL.

On the other hand I've got people queuing outside the door of the BTL offering me more than double the mortgage payment in rent.

[Pete Marsh]

Why don't you pop over to http://www.housepricecrash.co.uk/forum/ and ask them? They love BTL investors there .

[MarillionFan]

What would you do?

I want to port the mortgage that is on my BTL [I've done it once before] to my main residence, mostly because it's 0.49% above base rate.

This would mean that I sell the BTL.

On the other hand I've got people queuing outside the door of the BTL offering me more than double the mortgage payment in rent.

Rubbish thread!! I read this as BLT, now I've got the taste in my mouth.

[scooterscot]

Rubbish thread!! I read this as BLT, now I've got the taste in my mouth.

So you think I should sell??

[MarillionFan]

What's the Mayo to tomato ratio?

[scooterscot]

Do you have a straw?

[MarillionFan]

Seriously though, sell your Btl and stick the money in a two year icici bond at 4% or an AA income bond at 5.1% for five years.

Also my greengrocer said lettuce is due a price correction.

Hth

[scooterscot]

Seriously though, sell your Btl and stick the money in a two year icici bond at 4% or an AA income bond at 5.1% for five years.

Also my greengrocer said lettuce is due a price correction.

Hth

That's the decision the wife and I have came to - sell. When it's not working for you, get rid of it.

Better stock up on my lettuce while it's cheap...

[Olly]

so tenants will pay double an interest only mortgage at 0.49 over base. Your home isn't on as good a rate and you will save more than the excess rent by transferring the mortgage? is that right?

ok so now u need a new mortgage for the btl which the rent won't cover. is that right?

i'm missing something here, did you ask should i keep my btl if it costs me each month and the market is looking uncertain?

[scooterscot]

so tenants will pay double an interest only mortgage at 0.49 over base. Your home isn't on as good a rate and you will save more than the excess rent by transferring the mortgage? is that right?

ok so now u need a new mortgage for the btl which the rent won't cover. is that right?

i'm missing something here, did you ask should i keep my btl if it costs me each month and the market is looking uncertain?

That's about right.

BTL mortgage is a repayment type though.

However I'm not just looking at one egg, I'm looking at the whole basket. And I'm pi$$ing a whole lot more money on interest on my home than I'm earning on the BTL, even if it looks good on it's own.

But there's more to it that that.

I'm one of Blair's/Brown's little babies who 15 years later has become used to living with some debt, but I don't need to. Why do I keep doing so? Is it charity?

After this is over my war chest can keep me going for 3 years easy without me having to get out of bed.

I don't know about the rest of you but I've taken a tight skint flint attitude to spending, I've been amazed what I've been able to save and even more horrified what I've been spending for no reason whatsoever. My lifestyle only feels it go better if anything.