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Is Saving putting more in our home loan or not??
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Sir_Peter
Posts: 37 Forumite
Been thinking about this for a while, and need advice. My wife and I are in a part buy flat which the 2 year fixed mortgage is just about to end. We are good savers, but would like to increase the saving we are currently doing as in about 18 months we will be selling and moving overseas.
Would it be advantageous to fix the mortgage for another year and increase the payments to force us to save, knowing that we would be selling at the end of that period? Does the price we get for the house effect our saving?? Or should we just save the old fashion way?
We use our ISA limits every year, and have been putting £100 a month into the Premium Bonds..
Thank you in advance..
Would it be advantageous to fix the mortgage for another year and increase the payments to force us to save, knowing that we would be selling at the end of that period? Does the price we get for the house effect our saving?? Or should we just save the old fashion way?
We use our ISA limits every year, and have been putting £100 a month into the Premium Bonds..
Thank you in advance..
Want to be Mortgage Free ASAP
January 2007 -£224566.75
NOW-£221322.45
NOW-£221322.45
Saving £2 Total Now £240
Now is 24th January 2008
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