backrow wrote:Just keep on refinancing on the int only ones , they are no nearer being paid off than when I started .bimboman wrote:Have a plan for when those mortgages run out Yeeb. Make sure they mature at differant times.
Working back in time 25 years, finding say 50k to repay a house now worth 500k should not be too much of a problem. Ultimate aim would be to sell one of them off to fully repay everything else, but am still in the accumulation phase of my life. Will wait for my old man to pop off before I think about paying anything off, he's 82 but as stubborn as me so will be around a while still I reckon.
Fair play on the investment and the plan, the only issue is not being able to refinance (if you're 25 years older than now , you won't get mortgages easily). I for example am having to buy a big block of property to get lending as my declared income wouldn't support the mortgages and I'm old, I'm talking about only borrowing 50% as well.