End of mortgage term??

Discussion in 'General Property Investment Discussion' started by Danielle S, May 2, 2019.

  1. Danielle S

    Danielle S New Member

    Please can someone explain the long term strategy on momentum investing. Eg have a buy to let on interest only. Remortgaging to release £30k to buy the next one. Fast forward twenty years and I may have released equity again during that time, but what happens at the end of your mortgage term? Presumably you get to an age where the banks won’t remortgage again so you’ve been paying interest only all that time. Do you sell and pay capital gains or would you expect to have paid off your mortgage by then. Advice and thoughts much appreciated. Many thanks.
  2. I think we are not fully appreciating the fact that the more properties you have the great rental income so you will pay off your mortgage quicker and quicker. When you stop and plan for retirement is down to the individual.
  3. FWL

    FWL Member

    I have seen some mortgage terms end when the lenders is anything up to 75 years of age. The idea of constanty remortgaging a property to buy others, increase rental income is a sound one.
  4. While I certainly hope that I can carry on investing in property into my later years, when you approach your 60s and 70s maybe it is time to start looking at a retirement plan? Unless you have other forms of income?
  5. Andrea Thomas-Jones

    Andrea Thomas-Jones New Member

    Hi Danielle
    There are may buy-to-let lenders who will lend to you well past the age of 70. But the merits of this should be considered on an individual basis. It also gets a bit more complicated the more investment properties that you purchase as you can be considered a portfolio landlord, when you have a certain number. This is definitely an area to consider seeking professional advice for tax planning and taking on further mortgages.

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