Q:Just purchased a second property to reside in during the week as I work away from home, it cost 121k and my mortgage broker advised I should put down 15% to obtain the best interest rate which is fixed at 5.8% (Self-Cert). I'm not sure now whether an interest only or repayment solution is best for me?? I'm planning on living in the flat for 1-2 yrs (depending on work contract) and then renting the flat out. Should I opt for repayment first to reduce the capital or interest only ?? The current mortgage offer is fixed for two years afterwards I would look to move this onto a buy-to-let mortgage. Advice very much appreciated, thanks.
How very dare you come on this site and quote Self Cert mortgages with 15% down ,don't you know there's a credit crisis ! wash your mouth out now ! 5.8% phew……………………………
BTL interest only
tags: self cert, work contract
posted in mortgage by admin
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