F
Freda
Guest
Hi there,
My husband is considering taking voluntary redundancy next year which would enable us to pay off our mortgage (currently on a good tracker rate; 15 years left to pay). But we also wanted to buy a small property which we would let out and which we would possibly use as a pension. (I am in my forties, my husband is quite a bit older than me, and I think he's worried about me later on... )
My feeling is to pay off our mortgage as soon as possible. We may then have an excess left to use as a down payment on that second property. But my husband feels our good tracker rate could enable us to get a mortgage on that second property, and so we should delay paying off our mortgage.
I'd like to have an informed opinion so hope you all can help me.
Best wishes, Freda
My husband is considering taking voluntary redundancy next year which would enable us to pay off our mortgage (currently on a good tracker rate; 15 years left to pay). But we also wanted to buy a small property which we would let out and which we would possibly use as a pension. (I am in my forties, my husband is quite a bit older than me, and I think he's worried about me later on... )
My feeling is to pay off our mortgage as soon as possible. We may then have an excess left to use as a down payment on that second property. But my husband feels our good tracker rate could enable us to get a mortgage on that second property, and so we should delay paying off our mortgage.
I'd like to have an informed opinion so hope you all can help me.
Best wishes, Freda