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Using my deposit wisely ...?
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I am thinking the follow over -
Using all the money given to me/savings to make up my deposit. - BUT is it sensible to hold some of that amount back for a savings account and use an offset mortgage?
Maybe I could change mortgages after the end of my fixed rate term to an offset if my Grandma's properties are paying out by then into my savings account?
- Would you guys advocate paying off as much of the mortage as I can yearly i.e up to 10% of the mortgage (flex repayments). Someone recently said I was being too cautious and I shouldn't worry about paying the max I can a year I should save extra money for a second house deposit.
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