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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

    OR

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

    Any advice appreciated!

    Thanks

    Daniel
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