Continue with fixed rate repayment mortage or change to interest only

Z

z104

Guest
Hi,
I'm, paying 567 per month on an investment property.Rate is 4.75%
Rent recieved is 650 per month
Management fee is 900 euro per year.

Property is paying for itself at the moment.

Mortgage outstsning is 94,000, Original mortgage taken out 2 years ago was for 99,000 euro.

Am I better off changing to an interest only mortgage and take the difference between the interest and rent or am I better off to continue paying interest and capital?
 
No tax liability taken into account.

Just had a look at the link, Thanks. I think I'll be going interest only if I can get an interest only mortgage at a decent rate.
 
You must log in or register to reply here.
Back
Top