house investment

B

blade39

Guest
I have bought a house 2 years ago as an investment to put towards our retirement and something for the kids. I was going to pay interest via rental income and put 300 per month towards repayment however is it better to pay this direct monthly of the mortgage or put into an investment which will pay of investment in 18 years.
 
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sorry man its my first post I couldnt really think of a heading as there are so many ones here with similar things investments, mortgages etc.
 
On another note guys every time i remortgage the fees are about £800. This enables me to have a fixed interest rate every 2 years on a 20 year mortgage seems to give me around 8k in fees is there a better approach?
 
Having read the articles there are pros and cons to the debate on repayment versus interest. My own mortgage was for 20 years I have 2 years paid and now I am renting out. I have additional income and was wondering is it better to shorten length of mortgage and increase payments as interest is charged on amount and time.
Shorten length of mortage to 10 years?
For example current epayment mortgage is 18 years @ £575 interest only or £880 repayment.
My rental income is £600. Wages to invest £600-700
If I shorten to 10 years it is £1300 repayment.
So £1300 for 10 years and thats no extra interest and mortgage free.
I must be saving something doing it this way?
 
blade39 said:
sorry man its my first post I couldnt really think of a heading as there are so many ones here with similar things investments, mortgages etc.
Click to expand...

Please edit the thread title as explained in the link that I posted above.
 
blade39 said:
sorry man its my first post I couldnt really think of a heading as there are so many ones here with similar things investments, mortgages etc.
Click to expand...

Why do you say it's your first post when clearly it's your eleventh.
 
Look at their profile - the post starting this thread was their first post on AAM.
 
blade39 said:
On another note guys every time i remortgage the fees are about £800. This enables me to have a fixed interest rate every 2 years on a 20 year mortgage seems to give me around 8k in fees is there a better approach?
Click to expand...
Are you planning on moving bank every two years, can you not just have a fixed rate with your current bank? If the fee for switching banks means you pay less mortgage interest then you may in fact be saving more than the 800 fee, this is the only reason to switch.
 
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