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[quote][i]Originally posted by Fee[/i] It really depends on how long term your plans are. With a repayment mortgage for about the first 3-4 years you're only paying off the interest, so the loan amount doesn't actaully go down. It's only after the first few years that you actaully start repaying the loan If you're just planning on staying in the place for a few years and then moving on, an interest only mortgage is the best way as the repayments are lower. The higher the deposit you can put down, the better the rate you will get. We managed to get a 90% mortage and I think it knocked about £100-150 a month off our repayments than if we had gone for a 95% mortgage Our flat went up in value by £30k in the two years before we bought it (my dad owned it before) so fingers crossed it will do the same if not more when we come to sell it in a few years [/quote]
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