Don't overpay, invest!

Once you have a 40% deposit and switched to the lowest cost for comparison rate, the mortgage is cheap credit that could jump start investment for you

Share and property funds, managed by banks and done through an isa could return you a historically better average than most mortgages, the figure I've read that includes crashes is a 7% average return. You can participate with small sums, i.e. £100 a month, and it brings the ability to invest in property to those that couldn't buy a second property, without need of mortgage, and with less default risk if one of the properties doesn't pay rent, or shares that are in so many baskets that risk is controlled

It comes with risk, but if your money doesn't perform then you face surefire inflation risk
And dividends, even below the £5000 tax threshold still count towards the £300 "other income" threshold for tax credits
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