Interest rates are shooting up at the quickest rate in decades and with them the cost of your mortgage. At the same time forecasts …
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Interest rates are shooting up at the quickest rate in decades and with them the cost of your mortgage. At the same time forecasts …
source
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21 comments
2:13 what? Do British people not have fixed rate mortgages like the Americans? I guess their system is different than ours
If you’ve paid off the mortgage you are not gonna loose your house if you loose your job. What are you talking about?
I know they say invest young but I’m stopping investing and paying off this house now so by the time I’m 35 I can be debt free and living
Wow, that's not how I saw it. To me paying off the mortgage when the interest rates were low in my mind was that instead of paying interest I was getting rid of the mortgage in anticipation of the rates going up and so I would have less exposure. And yes, it's about my balance sheet and the freedom goal of being debt free. And anyone who has gone thru' the Great Financial Crisis know how things fan go wrong and you can be left exposed.
“Crypto lies in tatters” HAHAHAHAHAHA
Something obvious that never seems to be mentioned in this debate. You are already commited to paying back your mortgage. It’s not just a question of which strategy pays you best and picking optimal return. For better or worse, you borrowed this money already and have to repay it. Savings and investments are important, but they are also a choice, in a way that repaying your mortgage is not
Started paying off 2 years ago. 18 months left. I plan on retiring in 5 years with good pensions. I don't want to have a mortgage I'm retirement. Remember, we don't stop investing in retirement, and you can easily pass away with more wealth than you do when you retire
Been investing to pay off my loan. The moment I have enough it's getting paid off. Tired of paying interest
If you're on Universal Credit, you aren't allowed to save more than £16k without losing your vital income. Pension and mortgage payments are the only legitimate ways to "save" spare cash and avoid busting the savings ceiling.
With mortgage overpayment, you at least in principle have the opportunity to access that saving via a remortgage.
The relief and peace of mind is unreal!!!
My mortgage is a 2.5% rate im good homie ill.invest because im not a ret**rs
Theres no guarantee the stock market will keep going up.
Your mortgage is guaranteed however.
Well. I full on 100 percent disagree with you. I can never take any of your videos seriously again.
What if I have no bought a house yet. Should I
It's difficult to balance out my personal strat is to just get onto the next equity bracket and focus everything else on investments
Well argued video. Stood the test of time into 2025.
Paying your house is ALWAYS the worst decision. It may not math perfectly vs investing but it is the wisest decision.
Investing is big risk and it is marginally better vs paying off a mortgage at any interest rate. If you own your home you can lose your job. If you're juggling mortgage payments and appropriate investment $s you are on a blades edge constantly.
Im in New Zealand. My mortgage rate jumped from 2% to over 7%.. managed to get through and about to refix at 5%
I appreciated your run down, the having investments to cover during time down, and tax advantages. I know this is UK focused, but for the US investor, I believe the cutoff is around 6.5%, above pay down, below invest. I also appreciate your comment on Ska classics.
Im 41 and mortgage is paid off 🎉😊
Could invest extra payments into dividends etfs at 3.5-4.5% and dump the income from that into mortgage every 3 months?
I don’t I am currently putting into house but been thinking about it because I am putting money into dividend for kids school.