The Times - Portfolio Therapy - ‘How can we prepare to downsize?’
Trinity Financial responded to a The Times reader looking for advice to find out the best way to purchase a second property for him and his wife to live in.
Aaron Strutt, product director at Trinity Financial, wrote: “As the homeowners have lots of equity and significant savings earning very little interest, it may make more sense to buy the new property with cash.
“They would still have an income-generating property, wouldn’t need a mortgage and would avoid paying a buy-to-let interest rate. They could replenish their savings when they sold their main residence.”
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