I Bought A House For £120K

I bought a house for 120,000 pounds. Here's the numbers. I bought this house back in 2020. My total spend, 36,450. Then I rented this house out for 700 pounds a month. My mortgage at 2.5% interest was 187 pounds per month. Maintenance 50 pounds, insurance 30 pounds, which gave me a net income of 433 pounds per month or 5,196 pounds per year. Over the last four years, house prices have increased by 25%. The house is now worth 150,000 pounds. My equity is 60,000 pounds. The rent that I've received has been 20,784 pounds and after tax, that's 16,628 pounds. Now would be a good time to refinance the house. The new mortgage would be 112,500 pounds. I'd use that to pay off the old mortgage of 90,000 pounds and that would lead me with 22,500 pounds in tax free money. I'd put that tax free money with my post tax rental income and that would give me 39,128 pounds. Basically, I've got this house for free and I'll see you on the next one.