Hi mate,

Sounds like you are in an ideal position to wait and see what happens with the economy. In my opinion the market in the UK will not be going back up in value for a good 2-3 years minimum until all this mess with the mortgage markets and the economy is resolved. There are still other areas around the world that have fantastic investment potential however the UK residential market is not currently one of them. With a recession looming you would not be bad advised to hold on to that 20k until the right opportunity comes along.

Hope that helps

Duncan