You don’t have that 1M to collect dividends on and if you had to borrow it, it would be more than the interest of a capital backed mortgage and that income woul

You don’t have that 1M to collect dividends on and if you had to borrow it, it would be more than the interest of a capital backed mortgage and that income would be taxable on the top tax bracket on top of your salary whilst your non-taxable rent comes out of after tax income. Property is also the only asset class in which I’ll leverage debt to purchase in order to enter the housing market at a fixed price at my current affordability. I’d only recommend purchasing a home where the mortgage payments + holding expenses is =~ rent (which means lower cost properties), which will improve over time when mortgage gets paid down and rent goes up. You do have access to that capital from paid down mortgage or increased valuation by redrawing it if you need to. So reducing the mortgage would be my highest priority which I’d do with an offset account, so the funds are readily available when needed which otherwise is reducing the interest amount.