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First buy
funk100
Posts: 12 Forumite
Hi all,
Just after some advice. I am purchasing a house as part of the first buy scheme and I will be looking to save up and pay for the interest free equity loan off within 5 years.
I have read everything there is to know and I am totally happy with the first buy scheme as it suits my circumstances at present and have no intention of moving on else where so I am not asking for advice on it.
Would you recommend over paying mortgage also or putting any surplus money that I have left over into ISA or any other high interest account in the current climate?
The reason why I ask is that I want to have as many options open as possible in 5 years time. i.e whether extra savings could go towards the equity loan and pay that off quicker or reduce the mortgage term quicker!
Just after some advice. I am purchasing a house as part of the first buy scheme and I will be looking to save up and pay for the interest free equity loan off within 5 years.
I have read everything there is to know and I am totally happy with the first buy scheme as it suits my circumstances at present and have no intention of moving on else where so I am not asking for advice on it.
Would you recommend over paying mortgage also or putting any surplus money that I have left over into ISA or any other high interest account in the current climate?
The reason why I ask is that I want to have as many options open as possible in 5 years time. i.e whether extra savings could go towards the equity loan and pay that off quicker or reduce the mortgage term quicker!
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