Best mortgages for investment properties and own home

Hi i have just discovered this site and have joined because i feel totally confused about how best to manage our salaries etc

My husband and I together have three properties, we rent two and live in one. Our home has a mortgage for over thirty years and we bought it eighteen months ago so the value has not changed much.

When we bought our home we used one of the properties as colloteral and this has only eleven years left on mortgage we changed it to interest only and the third property has twenty five years left on the mortgage the interest rate on this has gone up so much that the rent just about covers it but the property has almost doubled in value since i bought it. The proerty is also close to the city etc and so is a good investment.

The way things are in the property market at present we are wondering if we should be consolidating our mortgages or remortgaging or simply selling and investing in something else.................... Does anyone know anyone who is really good at advicing on these issues or has anyone experienced siimliar situations or made similar choices about investments or properties ?????????

I hope i have posted in the right forum. I am not the best when it comes to these types of decisions which is why i have been seeking out information.

Thanks

Hi Fat Frog

What lenders are your mortgages what are the interest rates.

Jonny

Two mortgages with Halifax and the rate is 5.05% and the third with Permanent TSB and the rate is 5.69% - and I guess these will go up again in July. I have been looking around and although these were the best options at the time I think we could do a lot better now !

Fat Frog said:

Two mortgages with Halifax and the rate is 5.05% and the third with Permanent TSB and the rate is 5.69% - and I guess these will go up again in July. I have been looking around and although these were the best options at the time I think we could do a lot better now !

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Hi Fat Frog

You could get better rates especially if any of your properties have a low loan to value. The key is to get the right mix of LTV for tracker rates. There are good value fixed rate sout there at the mo aswell.

Which rate relates to your home.? Are the Halifax rates tracker, fixed, discount tracker or variable

Jonny