Road rules0 min ago
The right mortgage
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We have purchased 2 properties for cash. One will be home and the other a refurb and sell on. We want to raise �50k mortgage against the home worth currently �100k. As we are not actually paying anyone the �50k just using it to do up the properties would a mortgage expert out there advise if a current account mortgage be the best one for us?
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You could do that but the real benefit is if you tend to have a high income as you might be able to pay it off faster. Also, an offset mortgage might be good if you have a lot of savings. However, it requires discipline with a current account mortgage as it is easier to not leave enough to cover the mortgage on a monthly basis. I hope that makes sense - they can be a little confusing.
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