Just paid off our mortgage

Not substantially... Bank rates are negligible as are Isa etc.

Just chunk it off mortgage.. keep it simple
Not for me. Cash rates are low as interest rates are low. I'm perfectly happy to take greater risk with the capital when paying an interest rate of bank base plus 0.5%.
 
Not for me. Cash rates are low as interest rates are low. I'm perfectly happy to take greater risk with the capital when paying an interest rate of bank base plus 0.5%.
One of the lucky ones... Very few have thatrate locked in.

My brother has it locked in on a lifetime


Irrelavant for me.. mortgage cleared on my house...

Just the rentals to clear..
 
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42

Midfield
One of the lucky ones... Very few have thatrate locked in.

My brother has it locked in on a lifetime


Irrelavant for me.. mortgage cleared on my house...

Just the rentals to clear..
Even at current rates of 2%ish you can make a bit of money if you're willing to take a few risks on the markets.

I should be mortgage neutral in the next 8 or 9 months, but will have 23 years left.
With that time frame, I'm looking at putting half into an index tracker. The other half a mix of P2P & staggered fixed cash bonds.

The investments should see more growth on average than the interest charged on mortgage. And after 20 odd years, I should have a bit of a retirement nest egg.
 

42

Midfield
🤔
Great.

Let's all just keep handing £600 a month over to the bank when we don't need to then 🤔
You miss the point. He's not suggesting you just spend the money on shit instead. The debt still has to be cleared, its just the most cost effective way how to do it.

Once you get your LTV down to a decent level (under 40%). Then instead of overpaying, there are better options long term. For example;

If you're a 40% tax payer, you'd be better of paying putting the extra cash into a pension.

You could pay into an investment fund instead. Once your mortgage & investment fund equalise, the investment fund just pays your mortgage, generating a profit at the same time.
 
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joemcdokes

Striker
@joemcdokes hates doctors and medicine

Homeopathy nutter
I don’t use that either.
Hate is a strong word, I see things differently to you and for some reason you just can’t get over it.

Still love you loads. 👨‍❤️‍👨
did you take lessons in being an arsehole or does it com naturally?

weve got a poster who's prour of one of his kids going into a top profession. give him a break.
Naturally,
did you take lessons in being an arsehole or does it com naturally?

weve got a poster who's prour of one of his kids going into a top profession. give him a break.
It was merely a reply to something he said, I’m not sure he needs a spokesperson.

Is that an arsehole response?
 
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Well if you are paying 4% interest on a nice little £50,000 mortgage that is still £2,000 you are giving away per year.
As long as you have a reasonable amount of equity you will currently get a rate below 2%. This can also be fixed for 5 years.
 

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