Simple mortgage question!

meady100

This may seem simple to a lot of you but in the simplest possible terms: is it a good or terrible idea to buy £1k of white goods by adding it to the borrow on a potential new £100k mortgage? Why? I seem to be going round in circles thinking about it. Instinct tells me that I should be NOT be borrowing the money, and just by buying the goods outright. But then I will have less of a house downpayment and need a bigger mortgage anyway?! Or doesn't this matter?!

Edit: Could a mod please rename this post to something slightly more appropriate for me such as 'Should I add white goods to a mortgage?'. Thanks!

kingstreet

If it's coming off your deposit, you are borrowing it either way. You still end up with a bigger mortgage.

All I'd suggest is making an overpayment to reduce the mortgage as soon as you can, within any early repayment penalty limit, of course.

Yorkie1

meady100 wrote: »

Edit: Could a mod please rename this post to something slightly more appropriate for me such as 'Should I add white goods to a mortgage?'. Thanks!

If you click edit, and Go Advanced (or similar) you'll be able to rename the main title of the thread.