landlord said:The more interest you pay, the less taxable profit you make and thus the less the tax man gets. With an interest only mortgage you will be paying less per month, so you will not be sacrificing your income to pay for this mortgage. With the extra cash you can re invest or save for a rainy day.
ninsaga said:It looks as though you are already in the red..assuming you are paying for the house insurance & service charge annual fees... not to mind an allowance for essential repairs,
ninsaga
ninsaga said:Quite simple..... his incomings (rent received) are less than his outgoings (mortgage + insurance etc)... hence he is in the red.
Try run any business in that mode & see how long you can last.
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