Q: Hi all,
I am in the fortunate position of having some money to sell my house. Should I purchase a flat and have no mortgage or buying a home and have a small mortgage? I know it depends on what I want to live in, but I have questions about the financial implications.
I was once, years ago, advised by a financial advisor that it is better for a mortgage, you need a loan, credit, etc.
Is this still the case?
Historically, houses have been a better hedge against such events and also tend to recover faster during an upturn.
As far as getting further loans, provided you've got a good credit rating, I don't think having or not having a mortgage makes that much difference.
But I may be wrong.
tags: financial implications, fortunate position
posted in mortgage by admin
Follow comments via the RSS Feed | Leave a comment | Trackback URL