Interest Only or Repayment Mortgage – Buy to Let Property

property investors network Podcast

In today's podcast, Mark explains whether it's better to opt for an interest-only mortgage or a repayment one.
Mark suggests that rather than investing in a single property, it's better to save money every month and invest in multiple properties.
As a landlord, purchasing a rental property is easier than a residential one, as the bank may require you to pay off a residential property over 25 years. If you stop working, they may be hesitant to approve your mortgage.
However, with a rental property, the bank considers the tenants responsible for paying the mortgage, increasing the chances of getting approved. Mark also highlights that repayment mortgages are suitable for longevity, while interest-only mortgages help build cash flow, which is why he prefers that more, but it is always good to diversify

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