(not in the UK, first I’d heard of this) That 6.25% net penalty is less than the US penalty for tax-protected savings (401k), which is 10% And the US Government doesn’t even kick in (some employers do, and the deferred taxation is significant over many years). The chance that you’ll buy a house doesn’t even need to enter into your calculations, if you include the chance that you’ll live to age 60, it seems like a very good deal.
(not in the UK, first I’d heard of this) That 6.25% net penalty is less than the US penalty for tax-protected savings (401k), which is 10% And the US Government doesn’t even kick in (some employers do, and the deferred taxation is significant over many years). The chance that you’ll buy a house doesn’t even need to enter into your calculations, if you include the chance that you’ll live to age 60, it seems like a very good deal.