31 October 2012
Mortgage – affordable monthly payments and with equity in the property, minimum 10% equity.
Credit cards – cleared in full every month. Credit card debt is expensive and should be used in emergencies only.
Loans – taken where essential only and paid on time via direct debit (much better...
12 October 2012
I feel it is just a matter of time before interest only mortgages are phased out altogether (for residential mortgages, not buy to lets) which is a terrible restriction on our freedom to manage our finances.
Fair enough for high Loan To Value (LTV) mortgagees, where building up some equity is impor...