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Question about a Lump sum payment
Comments
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Think people are over thinking this:
You state £104,000 is just 3 times your mortgage.Home valued at £140,000.
Deposit of £36,000.
Remaining value of house £104,000.
You need to get the full mortgage of £104k. You can repay the mortgage at any time, if you are in the midst of a fixed rate you will likely get an early repayment charge.
I would get a mortgage for a normal term at a rate you can afford. Then when you get the cash you pay your mortgage. The advantage of this is you'll still have some of the 45k left over.0
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