Make hay while the sun is shining

[Poppy]

Do you have a tracker or variable rate mortgage? Have your payments decreased recently? Perhaps now is the time to be thinking about capital repayments against your mortgage. Especially for your own home (PPR).

Has this crossed any other members' minds?

[jeffrey]

Helpful, but who's funding the capital repayments: you, Poppy?

[Rodent1]

Buying bargain prop for cash is a better way to go methinks!

The Rodent

[arusha]

I am thousands a month better off because of my tracker mortgages but no way am I paying off any capital at the moment. I like to keep my borrowing as high as possible for tax reasons. Especially when I am paying such ridiculously low rates, I can definitely get bank accounts at higher rates than some of my current mortgages.

I will keep the money in a bank account probably and then I have a nice lump sum in case I want to remortgage in the future when my tracker deals end. Might be useful if any of my ltvs have dropped past a good threshold due to house prices falling and it's harder to get a mortgage.

Or if I don't need to use it for that I might buy some more property in the future when the market is really low.

[sjcollett]

We changed our holiday home to repayment rather than interest only. Given I now have some surplus have started to do some odd jobs on the properties which I have been meaning to get round to. Nothing major, but those niggly jobs which were never urgent enough...but probably really should've been done ;) And I thought maybe I should start saving for a rainy day fund...maybe even a nice holiday...and then I realised that was far too much fun and I should just buy another house!