Quick background:-
Outstanding Mortgage Balance £140,000
House value £250,000
I currently have a repayment mortgage which is coming to theend of its two-year fixed deal.
I have recently separated from my husband and now that I amat the stage of fixing a new mortgage deal I am considering taking out andinterest-only mortgage for two years so that I can save some money to be usedin case of emergencies (I have just has to geta new boiler which has used the lastof my savings).
I will then return to a re-payment mortgage once the fixedtwo years of interest only complete.
Is this a wise move?
All help gratefully received!
