mortgage advice

LMCD

hi, just doin some calcs and lookin at figures...

need some good advice...

lookin to move in the next 'four' years... will be debt free under a year if all goes to plan...so to get a better chance of house would you part save and part overpay to reduce your mortgage outstanding to have money saved to put towards the new property

OR

could be mortgage free in four years but have no saved cash unless borrowed back on overpayments??

what would you do...apologies if this seems straight forward answer am sorry, I am new to this in learning but if you need more facts
let me know.

Got an isa opened and slowly puttin into that whilst still on debt free road..

elantan

this is a tricky one ( hi by the way i follow your diary ) i personally ( and it is personally) pay the extra off of my mortgage with the understanding if i need to i can borrow it back ... the reason i do this is because i a) save on my mortgage and b) get a better rate for the money i put in than anything a savings account could give me

i think everyone is different though

LMCD

Hi Elantan.

thanks for that... I think it makes better sense to me to plough it in mortgage... I think that overpaying after debt free is a better plan to have a permanent house...cos I was thinking of moving from flat to a house, to then another house - but if I could get the house of my dreams with one move and just staying put for a couple of years then it makes sense to stick with this property and mortgage provider for the forseeable future.

oh my diary it's a bit dull at the moment lol

elantan

not dull at all ... it's just part of your journey thats all