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Would you use the 75k savings you have in a stocks and shares ISA (up 3k since brexit) and borrow 30 ish assuming getting it for 105k or borrow more and keep the money in the ISA. House worth about 110k btw
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use ISA NAPPAAGE
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IMHO Keep in safe things in ISA but get mortgage that allows early (partial) repayment.
Interest rates are very low and may go lower. Your question could I think be rephrased as what will give me most net interest, 75k with hopefully a positive compound interest year on year, vs in effect saving a lower interest rate stuck at 75k. Do you think you can get more in an ISA per year than your morgage rate. BUT if interest rates shoot up you want to maybe switch ISA into Mortgage. |
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I should really add by moving I can rent my place out for approx £500 a month so trying to free up that potential.
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Well if it's a second home you won't now get any mortgage interest relief from income or whatever, that thing osbourne brought in to wring a bit more out of BTL-ers. Osbourne .. remember him?
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Thinly Veiled i'm a greedy barsteward fred
Hope your house has wood rot |
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Spykes quickly finds out why asking reasonable questions on the betfair forum has its drawbacks
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