Hi all
I have a residential tracker mortgage my rate is currently 2.75%. The property is being rented out, I have stopped the trs on my mortgage. I need to change to one of these residential investment mortgages, as the max term is 25 years will I see a big increase on my monthly payments as my current mortgage is over 35 years?
Would it be bad if I was to leave it the way it is and say nothing? I actually didn't know I had to change my mortgage I thought once I cancelled the TRS I was ok, I will be seeking professional advice to make sure I have not missed out on anything else?
Also do you think now would be a good time to fix if you have a rental property since the rates are low??
Fi