I personally believe that the quality and suitability of a homeowner’s mortgage is the second biggest factor that will ultimately determine the success of a property investment, especially with buy to let investors; the biggest factor being the market condition. However, you alone can’t control the market condition, but you alone can play a key role in determing the fate of your mortgage.
A mortgage is probably going to be the biggest financial responsibility you will take on, so it is a big deal. Forget your lousy electricity and water bills- you will still have a home even if failing to pay those. The majority of people will be at their mortgage lender’s mercy for 25years or there about; that’s a long time to be on your knees and it’s certainly not an enjoyable position to be in (some may protest to that claim).
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