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mortgage with no deposit.
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[quote][i]Originally posted by stuartmitchell[/i] [quote][i]Originally posted by Ian[/i] Aside from a terrible rate on the savings, there's no downside to having a bit of money behind you when you do it. Also in terms of financial benefits, the advantage of being on a better rate because you have a lower LTV are quite stark, even a few percent can equate the thousands over the life of a mortgage. [Edited on 26-08-2012 by Ian] [/quote] Well said. I couldnt believe the difference between going from a 25% LTV to a 30% LTV. It's also worth trying to pay it over the shortest time feasible even if it's a push. Our first mortgage was a 25yr one fixed for 2 years. Just reduced that to 18yr fixed for 5 years and if we stayed put and didnt move til it was paid off we would save £54K in interest payments :lol: Plus, see the payments as savings and it's much easier to swallow! (the interest is the dead money so minimise that wherever possibe) :) [/quote]
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