What Would you do?

[tlogic2020]

Hi,

I'm Looking for some advice or some food for thought if you don't mind.
In the next few months I should have enough cash to pay of my current mortgage. My house is worth circa £550k,
and I have circa £180k outstanding. My current interest rate on the mortgage 1.68% with my current fixed rate deal coming to an end
next February (2022). Shall I pay this off with the cash I got or should I invest it in a HMO property?. My wife saying to pay off the mortgage
but I'm thinking differently and would like to build a portfolio of property with a mixture of savings and releasing some equity from my current home.

 

[Lady Fel]

Hi,
I would pull as much money out from the residential property and build a property empire business from it up North.

 

[Dora Wi]

Paying off the mortgage seems like the safer option. But I think you should make a plan detailing how much it would realistically cost you to invest, how much profit you would get from it and how much could that help you with paying off the mortgage. Having a concrete idea about the numbers could help make a decision and reach a consensus with your wife.