Mortgage or Bank Loan?
We are 70 yrs old, have a pension pot for drawdown and a few small pensions that mean we can manage just fine. I also still work part time which gives the icing on the cake. Mortgage all paid off and house worth approx. £380k. We would like a small building extension cost around £12k but don’t have the cash to hand so are looking to borrow over 5 years. I don’t want to pull cash out of the pension pot as this would put me into the higher tax bracket.
Mortgage or bank loan? Or is there a better way?
Thank you MSE Forum.
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