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Mortgage advice needed 1 or 2 mortgages?

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  • Mortgage advice needed 1 or 2 mortgages?

    Hi all,

    Am after some advice, moved abroad a few years ago and rented house out. Have now saved up enough cash to clear the mortgage off (around 40% of the house value)

    I am also planning to buy another buy to let property do the question is:

    1) Should I clear 1 mortgage completely and put small deposit down on next property


    2) Continue mortgage on existing house and put excess money towards larger deposit on another house

    Any advice appreciated!