Hi everyone!!!
I am hoping for some advise from you lovely lot. DH and I have just purchased our first home but due to work we have had to move away and have now rented it with consent from the bank. We are fortunate to be able to continue paying the mortgage (138k) without having to use to rent from our tenant which just sits in an account. We utilised the governments help to buy (38k) when buying our home and we are hoping to clear this in 4 years as thats when our fixed rate comes to an end and also the time we will start paying interest on the HTB. At the moment after deductions we are receiving an additional £230 per month so the rent more than covers our mortgage. Would you continue to pay the mortgage from your salary as we are doing and keep that money in a regular account like we are doing? would it make sense to save the full rent (after deductions) in a stocks and shares ISA or would you over pay the entire rent on the mortgage each month? Or is there something else we could potentially be doing? Thanks in advance.