9:14 AM, 20th November 2014, About 8 years ago 6
I’ve just acquired my first BTL property which will provide me with an additional income in retirement. My plan is to retire in the next 4-5 years, downsize the family home and use the residual equity to acquire a second BTL and take this income too. I’m happy to let the capital growth look after itself as I intend to pass these properties on to my kids.
I need to formulate a strategy to acquire a third property as I have 3 kids and want to give them one property each but I’m not sure how this can be achieved.
I’ve always thought I should be mortgage free in retirement but the more I read I see that this isn’t always the best strategy, although I’m sure lenders put a ceiling on the age of borrowers.
I’d welcome any advice you can give. My first property is on a 57% LTV.
Thanks in advance.
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