- Had a house fire – should Insurance cover mortgage?
- 2nd mortgage taken out to buy my house, if i go in to forclosure can I be sued?
- Where does negative equity leave a not current 2nd mortgage?
- whats the best way to get a mortgage with bad credit?
what is the best way to fund a buy-to-let-mortgage is it to release equity on your own house or a mortgage?
07
Mar
whatevit
March 7, 2010 at 8:57 pm
The best way is dependent on degree of risk and carrying charges of loans.
If you have an estate that has a lot of capital value. A mortgage against the home is your own money paying you to have an income producing property.
If you are average below 75% ownership of equity in your home, then a mortgage on the property to let is the best course of action.
You should pay the mortgage on rental property at twice the speed as a mortgage on a home. The sooner the rental property is mortgage free the sooner you are freed from mishaps that come with rental of income property.