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- 15 year mortgage vs 30 year paid off in 15 11 answers
I current have a mortgage with less than 14 years on the term with an outstanding balance of approx 100k.
I will be moving house in the next few months, but the house I move to (purchase) will only be temporary (for maybe 2 - 3 years). The next house be more expensive so will probably increase the mortgage to 150 - 200k.
What would be the most appropriate mortgage term?
Initial thoughts suggest another short-term mortgage, i.e. 10 - 15 years, as this will build up more equity, but then if I take a longer term one (i.e. 30 years), it will give me more disposable income, which I can save and/or invest.