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Do I get a new mortgage or use my cash Isa's
learning1
Posts: 3 Newbie
I am mortgage free on the house I live in and also a house I rent.
I need £60,000 to extend my house can you advise what you think I should do please ?
1 Get a mortgage on the house I rent (get somthing back from the tax man)at todays low rates and pay off in about 10 years ?
2 Cash in all my cash Isa's and stick about £ 10,000 on an interst free credit card and keep transfering until paid (about 2 years) ?
or any other suggestions.
Thanks
I need £60,000 to extend my house can you advise what you think I should do please ?
1 Get a mortgage on the house I rent (get somthing back from the tax man)at todays low rates and pay off in about 10 years ?
2 Cash in all my cash Isa's and stick about £ 10,000 on an interst free credit card and keep transfering until paid (about 2 years) ?
or any other suggestions.
Thanks
0
Comments
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I was in a similiar position recently, and it was do I use my 10k in cash isa, or get a personal loan. My personal decision was to get a personal loan with a view to repaying it earlier if possible than to use my ISA's. Granted this would cost me money, but it was important for me not to touch the ISA's as I can never get that capital back in tax free - and I also want to keep a cash buffer incase anything went wrong.0
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thanks that is what my gut feeling tells me to do0
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