Interest Only Query ?

W

Westgolf

Registered User
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333
Hi all

Have an investment property and am in the process of financing to find a cheaper mortgage.One advisor suggested putting it on interest only basis and using the saving for other purposes such as primary residence mortgage etc
loan-to-value will be approx 70%

what do you think ?

Any / All advice welcomed

Westgolf
 
If you have mortgages against your own home and the rented property it usually makes sense to pay off the home mortgage first as the tax write-off in respect of the mortgage used to buy the rented property is worth more than the TRS on your home mortgage.

Liam D. Ferguson
www.ferga.com
 
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