Paying house off early

[Uncle Wally One Ball]

I could either cash buy my place here or put a large deposit down and get a mortgage somewhere bigger in a better area. I chose to be mortgage free at 41.

It would’ve been my single handed largest bill each month so it just felt right to clear it first.

It was left to you. You didnt clear owt

 

[abu13]

Pay it off, things can change quickly but if you own your home it's a weight off your shoulders.

The one thing I would say is a mortgage is usually the last debt I would look at paying off, if you have any loans or credit card debt i'd always pay them off first.

 

[meltonblue]

Pay it off, things can change quickly but if you own your home it's a weight off your shoulders.

The one thing I would say is a mortgage is usually the last debt I would look at paying off, if you have any loans or credit card debt i'd always pay them off first.

All depends on situation but personally I’ve never bothered with overpaying my mortgage or seeing it as something too worrying. If you’re going to borrow money then it’s the cheapest way of doing it, I’ve always either paid more into my pension or put it to saving up enough so I can go without work for six months plus if needed than overpaying my mortgage. Also always bought my cars outright.

Even now I’ve got those things, I’ve got ten years left on my mortgage and I’m still putting money elsewhere than looking to pay it off quicker.

Depends on incomings too though, so it’s pretty impossible to advise without knowing peoples full situations. Even the op, depends what rate you’ve got on your mortgage and how long left.

 

[Jack74]

I’m looking to pay my mortgage off early in the next few weeks but have also been told to leave the money in an account and let it build Interest bug was loooking forward to being mortgage free so now I’m having doubts what to do . Anyone else done the sane ?

Pay it off ,simples

 

[Gray]

I paid my mortgage off early and never regretted the decision. My son who is 45 paid his off last year.

Do it if you can.

 

[Paul1970]

Cheers for advice . Decided gonna pay it off .

 

[SK14BLUE]

Cheers for advice . Decided gonna pay it off .

That’s the one. I’m trying to do mine before I’m 60. Right on track. So whatever I earn after 60 till I retire can go towards hopefully travelling the world and helping my 3 grown up children and families out.

 

[Paul1970]

That’s the one. I’m trying to do mine before I’m 60. Right on track. So whatever I earn after 60 till I retire can go towards hopefully travelling the world and helping my 3 grown up children and families out.

Hope it works out for you

 

[SK14BLUE]

Hope it works out for you

Thanks. Still get most games too. Just gotta keep working hard.

 

[MCFC Wirral]

It was left to you. You didnt clear owt

It wasn’t. I had a share of a London property and the profit from its sale allowed me to buy here.

I was left nothing. My mother is very much alive.