UK Landlord Forum / Life

Hello I need help from you all. I have one BTL property that basically needs to be refinanced...today or the monthly interest only payment doubles tomorrow.

If I refi with Barclays where it already is it has 19 years left and the 2 year monthly payment would be 307. The rent,  pretty close to guaranteed through military tenants is1300.

My problem (s) my broker wants me to go to another bank with the same rate but it will be for 25 years. Now I don't understand if it matters since I'll just refi every couple of years anyway

Or should I just sell the damn place as I clearly don't know what I'm doing 😂😂

Problem 2 - I'm also in the middle of a divorce and transferring the equity of the BTL from joint to just me. I was going to do that with the refi with bank #2 but they've just sent me a boat load of documents and fees from their solicitor 🙈 and idk if it's worth waiting however many weeks they will take and be in the higher rate and monthly payment OR to refi with bank 1 and transfer equity in a few weeks when the financial documents are finalised with the divorce.

I've checked with bank 1 and I do qualify for the BTL on my own so that is not an issue to transfer the equity at a later date.

Any help appreciated!!!