Need Some Advice

Miss_Poohs

We are fortunate enough to be mortgage free :j , other than our car we don't owe much else, and have some savings, not a great deal though.

Anyway our house is needing a few things done and I was wondering the best way to go about paying for it.

Do we borrow, and if so what are our options?

I reckon we'll need about £7000, defo no more than £10,0000.

My husband works and earns decent money (£32000pa) and I work part time
(£5200pa).

I'd be interested to hear your suggestions.

Thanks

Janice

Xbigman

Have you done a budget and worked out how much free income you have?

With your income and no mortgage I would have thought you could save 7k in fairly short order. If you must borrow I would get a mortgage on the property but for the absolute minimum you would need to do the job (extra borrowing usually just gets spent and is no benefit). To get advice on the best mortgage to go for you should repost on the mortgage board.
Regards



X

Tassotti

My advice would be to get a One Account for 90% of the value of your property.

Use it when you need it and overpay when you don't (The only true flexible loan)

Tass