Perfect family planning

Article Abstract:

There can be substantial benefits associated with taking out a flexible mortgage which allows overpayment on the monthly repayments. In this way, the term of the mortgage can be considerably reduced. Flexibility is also important in relation to savings. It is advisable to avoid fixed-term savings plans, and it is important to be aware that deposit accounts do not usually offer the best option for medium- and long-term investment. A personal equity plan is probably a better option for savings.

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First step on the ladder

Article Abstract:

Those planning to purchase a property should try to save a further 1,000 pounds sterling in addition to the 5% deposit for related costs such as solicitors' fees. It may be advisable to purchase at less than 60,000 pounds sterling, as this will allow stamp duty, at 1% of the purchase price, to be avoided. For those planning to remain in a property less than five years, an interest-only mortgage is most appropriate, as the capital repayment vehicle is portable.

Finance, House buying, Home buying

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