I currently have a tracker mortgage, interest only, taken to allow maximum yield and flexibility (0 exit fees) while I decided if I was living in another part of the country, I'm now returning to live in it, but was going to keep the mortgage for the same reasons. If it weren't for Brexit the ideal plan would be to continue renovation for 1/2 a year then move on. Worst timing.
Now I'm really unsure if it's a good ideal to wait that long. I think I have enough deposit for the new place without selling my flat, so am considering renting or air bnb that place for a couple of years then claim back the stamp duty, but not having loads of debt hanging over also feels quite appealing. This is Bristol, so prices still rising (for now).
tl:dr first world problems
fuck, new page, that was in context of my last question.
I currently have a tracker mortgage, interest only, taken to allow maximum yield and flexibility (0 exit fees) while I decided if I was living in another part of the country, I'm now returning to live in it, but was going to keep the mortgage for the same reasons. If it weren't for Brexit the ideal plan would be to continue renovation for 1/2 a year then move on. Worst timing.
Now I'm really unsure if it's a good ideal to wait that long. I think I have enough deposit for the new place without selling my flat, so am considering renting or air bnb that place for a couple of years then claim back the stamp duty, but not having loads of debt hanging over also feels quite appealing. This is Bristol, so prices still rising (for now).
tl:dr first world problems
fuck, new page, that was in context of my last question.