u/No_Caregiver8591

I’m planning to pay off my mortgage but have heard it’s actually safer to maintain a mortgage to stop fraudsters stealing your property and registering deeds in your name.

i imagine a lot of people are doing this mortgage trick to protect themselves given press coverage of this fraud.

at what point will the bank say it’s silly and close my mortgage? could I get away with paying off all but £100? or would they want a balance of £1,000 or £10,000 or more. I also need to make sure the mortgage does not get cleared through the repayments.

should I fix it or go on SVR?

thanks to everyone who answered my other post about my mortgage which is due for renewal.

i value the broad discussion and am going to take the option of paying off the mortgage so I will have a mortgage free property worth £650-£700k.

now for my next question. I expect to move in the next 1-2 years and buy a house near better schools and I will not look to sell this existing property.

simple logic would be to take out a BTL mortgage on current property to create some funds for deposit on the new house. I would imagine being able to get 75% mortgage - so £488k to £525k based on current valuation.

is there an alternate scenario where I don’t take the BTL mortgage but use the rental income to purely add to mine and my partner’s salaries to afford the bigger residential mortgage in the new property. We would still have enough for the deposit on the new property.

TLDR: just trying to understand the permutations of having a residential + BTL mortgage or just having one bigger residential mortgage and using the rental income from the BTL property as additional income above salary

is there anything im failing to consider?

thanks in advance to this wonderful and helpful community for your thoughts and advice

hi all, HENRY couple with c£300k TC across us both. my mortgage rate of 1.99% is ending next week 😭and will rocket.

i have £260k left on mortgage and have funds to pay it off. half of that was due to mortgage increase 5 years ago which I was going to use for extension and loft conversion and then didn’t go ahead with it so that cash is sat in a savings account.

we are looking to move in the next 2 years to a different area with better schools. I would aim to keep this property as a BTL.

is there any benefit to keeping this property mortgaged with that scenario in mind or should I just pay it all off and be happy to have a mortgage free property. is there anything I’m not considering here?

I will likely need the £260k as deposit for the next house but don’t see any sense in continuing to pay interest on this money for when I can’t really expect to generate a similar amount after tax by investing it in liquid (ie cash). could I get a BTL mortgage later on and use the cash I extract to use for deposit on the next house?

the house is worth about £650-£700k and based in greater London on a tube line 15 min walk to station.

any advice appreciated

need a private endo to look at complex thyroid disease plus some other hormonal issues that are separate. ideally need someone who is holistic and prepared to go beyond the superficial

any recommendations welcome

surgery

cost of implant device

cost of processor (external device)

rehab and tuning/mapping appointments

asking as still awaiting approval and whether I will need to fund any of the above items or anything else

anyone struggled with getting CI surgery approved by bupa.

they keep asking for more and more info even the surgeon has got fed up as there’s really not much more they can say.

bupa already have all clinic letters and test results but still going round in circles. surgeon has done 100s of surgeries and is quite bemused by the amount of info being asked and certainly they’ve not had to provide so much extra documents in the past. most of what they are asking for had already been provided but Bupa keep asking for it in different formats, etc.

strange thing is they didn’t ask for all this up front, every time they are provided with what they ask for they come up with a new requirement.

is this normal? surgeon has not experienced this before