Hi,
This is perhaps a bit of a daft question I guess, but want to get a view on it.
I have just bought a house, for cash, to make the transaction very quickly as it was (in my view) a bargain. However I naturally used quite a lot of my savings to do this. I am now looking at getting a (re)mortage of about 20% LTV on the property to free up some cash again.
I could in theory afford to live mortgage free but psychologically need some cash in the bank (rainy day, lose job etc.).
Has anyone any thoughts on this? Thanks a million.
Kane
This is perhaps a bit of a daft question I guess, but want to get a view on it.
I have just bought a house, for cash, to make the transaction very quickly as it was (in my view) a bargain. However I naturally used quite a lot of my savings to do this. I am now looking at getting a (re)mortage of about 20% LTV on the property to free up some cash again.
I could in theory afford to live mortgage free but psychologically need some cash in the bank (rainy day, lose job etc.).
Has anyone any thoughts on this? Thanks a million.
Kane