put money towards mortgage

[sullyck]

In the process of selling house and buying new house. Will make around 150k profit after paying everyone auctioners and the likes. My question is should i put that profit towards the new house or should i try to invest it or maybe buy a property abroad. new house is 365k but should be able to meet the mortage repaments.

 

[ClubMan]

No easy answer particularly without much more detailed information about your overall situation. Using the extra money to reduce your borrowing requirements and/or length of mortgage term for the new property obviously gives you a guaranteed return in the form of the interest (and mortgage protection life assurance premium) payments that you would otherwise have to pay. You can model the potential savings using Karl Jeacle's mortgage calculator. It may also free up disposable income that can then be redirected into other investments.

 

[sullyck]

I understand what you are saying just don't know if i will ever have this much capital again. I