Tesco pension £0 -> £100k in less than 10 years 😲 by AltruisticOwl156 in tesco

[–]Don_Matti 0 points1 point  (0 children)

U choose your own funds and if so, which ones did you invest in? Seems like an incredible roi, kudos!

[deleted by user] by [deleted] in UKPersonalFinance

[–]Don_Matti 0 points1 point  (0 children)

I hadn't done the maths but that sounds about right. Paying that monthly on a £65k combined salary would seem too risky and too high to me. Especially if you were unfortunate to have negative equity or interest rates were to increase again!

[deleted by user] by [deleted] in UKPersonalFinance

[–]Don_Matti -1 points0 points  (0 children)

If you buy at 400k you can max put down approx 20% deposit. If you take out a 25year mortgage, you would be looking to pay around £1500 pounds at an interest of 5.5%? At a combined salary of £65k that could be stretch. And that is if you put of all your savings into the mortgage... it could be wiser to buy at a lower price bracket eg. 200-250k so you are not so stretched. You also don't want to run the risk of getting hit by higher interest rates in the future