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short term mortgage?
plantypete
Posts: 1 Newbie
Hi everyone,
this is my first time on here so please be gentle,
my prediciment is as follows, I currently live in a rented house but have to move out in may 08 (the house is owned by my employer and is tied to my job) I am looking to buy at a value around 200k, i currently have an investment scheme which is due to mature in May 09, this should yield around 110k, and i'll recieve a "golden handshake" off my current employer in may 08 of approx 35k.
The Big Question.... Should i buy in may 08, then pay off a large portion of the debt when the investment matures, and/or arrange another mortgage, or do i rent for a year, then buy when i have a much larger portion of the purchase price?
any advice gratefully listened to.
Thanks
this is my first time on here so please be gentle,
my prediciment is as follows, I currently live in a rented house but have to move out in may 08 (the house is owned by my employer and is tied to my job) I am looking to buy at a value around 200k, i currently have an investment scheme which is due to mature in May 09, this should yield around 110k, and i'll recieve a "golden handshake" off my current employer in may 08 of approx 35k.
The Big Question.... Should i buy in may 08, then pay off a large portion of the debt when the investment matures, and/or arrange another mortgage, or do i rent for a year, then buy when i have a much larger portion of the purchase price?
any advice gratefully listened to.
Thanks
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