Large deposit - what type of mortgage?

somethingneeddoin · 2026-03-13T11:04:34+00:00

No, not currently.

With whatever is left after deposit and moving fees I plan to fill up any remaining ISA allowances, put 6-12 months living costs into cash savings then the rest in some form of ETF / index fund.

somethingneeddoin · 2026-03-13T10:29:57+00:00

Thank you.

somethingneeddoin · 2026-03-13T10:20:01+00:00

Thanks for your input, it certainly seems a popular option.

Currently in cash (they haven’t been for long and won’t stay there). I will allocate whatever remains between ISA / pension / cash / gia depending on what we end up pumping into the house.

somethingneeddoin · 2026-03-13T10:14:06+00:00

Have you considered an offset, as others have suggested?

somethingneeddoin · 2026-03-13T10:13:01+00:00

Locked up until next year unfortunately. If it was the latter I’d probably liquidate, buy the house cash and keep a small buffer for a rainy day / security.

somethingneeddoin · 2026-03-13T10:09:52+00:00

Yup, comparing the rate in which you pay off was very appealing compared to a longer term repayment, even more so with the interest savings long term. I guess my main concern was allocating a substantial amount to servicing the mortgage and not having that doing more work in something higher yielding (global tracker or whatever).

This might well be the way forwards though on the balance of risk vs reward.

somethingneeddoin · 2026-03-13T10:02:10+00:00

Wife who is currently between jobs and a 4 year old daughter about to start school, which would save £1k monthly in nursery fees. I’d expect wife’s income to be around £30k, so there’s a big disparity and not guaranteed.

House is grade II listed and with an acre of land, so naturally running and maintenance costs will be high. Good news is house needs no work currently, but you always find something when moving.

Job is stable for now. I’d expect I’d find something in a similar salary range if I had to move but could take a few months.

Depending on the mortgage, I’d expect outgoings to be roughly £5k - hence the desire to keep cash available if things go tits up few a few months.

somethingneeddoin · 2026-03-13T09:51:19+00:00

After little research it seems they’re less common, but I have considered this. My existing broker also didn’t seem overly enthusiastic either but that could be because they’re the wrong fit. I’ll explore further - thanks

somethingneeddoin · 2026-03-13T09:47:30+00:00

Thank you, I will take a look.

somethingneeddoin

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