Property News · September 4, 2013

Should we take a risk on a more expensive house?


We can’t decide whether to spend £300,000 on our ideal house or play it safe and spend up to £250,000Q We have a £130,000 deposit for a home which is made up of savings and the equity from our current house. We have no debts other than our current mortgage, and our joint gross income is £66,000. Our current monthly outgoings for everything except for the mortgage are about £860.We are both risk averse and cannot decide whether to spend £300,000 on our ideal house or play it safe and spend up to £250,000. Our existing mortgage is a tracker taken out in 2007, and we pay 0.25% above base rate. Monthly payments are about £550, but we’ve been paying between £1,250 and £1,500 for some time to clear the debt. In comparison with our current deal, new mortgage deals all look expensive. Continue reading…

Source : theguardian.com
Read more…Should we take a risk on a more expensive house?

You may also like...