1. Where do i see the interest rate going? To be honest, i have no idea. From reading i guess ive had a bit of a scare factor added to my thoughts, with many people projecting interest rate increases. This has provoked this concern.
2. Max repayments- In regards to affordability for max repayments, Im not in a position where i wont, not be able to manage my repayments as it was quite a cheap investment. Just my concern is more so in making a smart decision to minimise interest paid on investment.
3. How long will i have the property for? At the moment im projecting that i will have the investment for the life of the loan(30 years) and rent it out, using it as equity for the next investment. However i do guess i will need to factor in, break fees and consider them just incase my position changes.
Im trying to consider all my options at the moment as i am quite young, 21 and im just trying to find my feet really. Just thought id put the question out there, on peoples thoughts as to weather you beleive the interest rate is going to get to the point where i would have been better to lock in now rather then pay higher varibale in the future?
