How do you repay an interest-only mortgage? PLUS: Is a periodic or fixed-term contract better?

This week on Ask Rob & Rob we’ve got a question on mortgages and another question on tenancy agreements..

Our first mortgage related question comes from Martin in Ireland.

Martin is wanting a bit of advice on interest-only mortgages. He’s looking to purchase his first property with an interest-only mortgage as he knows he’ll have more of a monthly rental income.

However, he’s a bit unsure as to how he actually pays that loan back in the long-term, say 20-25 years down the line.

Ideally he would like to allow his rental income to accumulate so that he can purchase a second property and keep that cycle going to build up a portfolio.

But he’s concerned that when it comes down to it, he’ll have several mortgages he’ll need to pay off and isn’t sure how he’ll do it.

Next we’ve got Luke who’s in Hong Kong!

He’s just about to complete on his third buy-to-let property in the UK and is wanting some advice on tenancy agreements.

Luke wants to know if after a fixed-term contract is up, should he allow the tenancy agreement to roll over to a periodic tenancy, or should he renew the fixed-term contracts every time?

He’s wondering if there are pros and cons to both or if one is better than the other.

Tune in to find out.


Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).

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