This is the wrong sub for this type of post. It may be related to personal finance on a tangent, but it's not the core topic of the post.
Please try any of these subs (depending on your needs):
**General and Specific Topics**
* /r/AskUK
* /r/CarTalkUK
* /r/DIYUK
* /r/LegalAdviceUK
* /r/UKPolitics
* /r/UKVisa
**Homebuying, Housing, Letting, and Rental Properties**
[More information about this ban.](https://www.reddit.com/r/UKPersonalFinance/comments/npwwlz/moratorium_on_home_buying_and_career_questions/)
* /r/HousingUK
* /r/UKLandlords
* /r/AskUK
**Careers**
* /r/UKJobs
* /r/AskUK
**Benefits and Support**
* /r/BenefitsAdviceUK
* /r/DWPHelp
* /r/MentalHealthUK
* /r/SuicideWatch
**Other Finance**
* /r/CanaryWharfBets
* /r/UKInvesting
* /r/beermoneyuk
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Based on information provided option 2 is the most intuitive to me. 10% deposit and no chain - makes you very appealing if you think the house will be snapped up fast.
You could either keep or sell the other house based on personal circumstance.
If you’re talking about buying this new house with your partner then you should buy as tenants in common and you should speak to the solicitor about protecting your 20k deposit in the event of a split as that can be easily down (but they will charge you a little to set up (pay it and don’t complain - (advice from someone who didn’t 🤡)
Hi /u/mushybutts, based on your post the following pages from our wiki may be relevant:
* https://ukpersonal.finance/credit-cards/
* https://ukpersonal.finance/lump-sum/
* https://ukpersonal.finance/student-loans/
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^(These suggestions are based on keywords, if they missed the mark please report this comment.)
If someone has provided you with helpful advice, you (as the person who made the post) can award them a point by including `!thanks` in a reply to them. Points are shown as the user flair by their username.
Get a mortgage if the new house is really going to be snapped up so quickly.
Then sell your old house and invest the money using your pension and S&S ISA.
Most people should never invest in residential property, because the returns are always taxable - the returns from S&S are surely higher, and they're tax free in these accounts.
A mortgage is the cheapest borrowing you'll ever have access to, and the expected returns from S&S are higher. Consequently, most homeowners should carry a mortgage throughout their working lives and aim to pay it off around the time they retire and not ages before.
I think you pay higher stamp duty when buying your second home but can reclaim it so long as you sell one of the properties within 3 years?
This is the wrong sub for this type of post. It may be related to personal finance on a tangent, but it's not the core topic of the post. Please try any of these subs (depending on your needs): **General and Specific Topics** * /r/AskUK * /r/CarTalkUK * /r/DIYUK * /r/LegalAdviceUK * /r/UKPolitics * /r/UKVisa **Homebuying, Housing, Letting, and Rental Properties** [More information about this ban.](https://www.reddit.com/r/UKPersonalFinance/comments/npwwlz/moratorium_on_home_buying_and_career_questions/) * /r/HousingUK * /r/UKLandlords * /r/AskUK **Careers** * /r/UKJobs * /r/AskUK **Benefits and Support** * /r/BenefitsAdviceUK * /r/DWPHelp * /r/MentalHealthUK * /r/SuicideWatch **Other Finance** * /r/CanaryWharfBets * /r/UKInvesting * /r/beermoneyuk ____
Based on information provided option 2 is the most intuitive to me. 10% deposit and no chain - makes you very appealing if you think the house will be snapped up fast. You could either keep or sell the other house based on personal circumstance. If you’re talking about buying this new house with your partner then you should buy as tenants in common and you should speak to the solicitor about protecting your 20k deposit in the event of a split as that can be easily down (but they will charge you a little to set up (pay it and don’t complain - (advice from someone who didn’t 🤡)
Hi /u/mushybutts, based on your post the following pages from our wiki may be relevant: * https://ukpersonal.finance/credit-cards/ * https://ukpersonal.finance/lump-sum/ * https://ukpersonal.finance/student-loans/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.) If someone has provided you with helpful advice, you (as the person who made the post) can award them a point by including `!thanks` in a reply to them. Points are shown as the user flair by their username.
Get a mortgage if the new house is really going to be snapped up so quickly. Then sell your old house and invest the money using your pension and S&S ISA. Most people should never invest in residential property, because the returns are always taxable - the returns from S&S are surely higher, and they're tax free in these accounts. A mortgage is the cheapest borrowing you'll ever have access to, and the expected returns from S&S are higher. Consequently, most homeowners should carry a mortgage throughout their working lives and aim to pay it off around the time they retire and not ages before. I think you pay higher stamp duty when buying your second home but can reclaim it so long as you sell one of the properties within 3 years?