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Mortgage dilema
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Yopoh
Posts: 1 Newbie
Hi,
We returned from Australia earlier this year and are now in a position to buy a house.
We currently have investments valued at around about 40k of which we could use in order to be mortgage free or we could keep these and get a 40k mortgage.
Just wondering what would be the best thing to do in this situation and if other people have been in a similar position.
Thanks
We returned from Australia earlier this year and are now in a position to buy a house.
We currently have investments valued at around about 40k of which we could use in order to be mortgage free or we could keep these and get a 40k mortgage.
Just wondering what would be the best thing to do in this situation and if other people have been in a similar position.
Thanks
0
Comments
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It would depend on the mortgage rate and fee versus the savings rate you could get or how sure you are of a return on your investments exceeding the mortgage oat.
You need to do some research in to the mortgage you could get.I'm a qualified accountant but please make sure you get expert advice as any opinion is made in a private capacity.
"A goal without a plan is just a wish" Antoine de Saint-Exupery
Mortgage overpay 2012: £10,815; 2013: £27,562
Mortgage start £264k, now £232k0 -
As above, that would depend on a lot of factors. The main one would be if your investments make more money than your mortgage interest would cost.0
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