Michael | UK Stock Trader
Region: GB
Wednesday 13 November 2024 16:49:28 GMT
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User26748494837 :
This advice use to work 10 years ago. I bought a flat for 600k, if I pay the set amount for 30 years, I would have paid a total of 1.5m. 900k in interest to the bank. So yes, I’ll make overpayments
2024-11-13 21:22:04
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gypsyrolo :
But you can’t generate 10% returns without risk.
2024-11-13 19:18:13
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Lemurbrain2576 :
How is it a good thing paying back 0.80p for every pound I borrowed :/
2025-01-05 08:48:16
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Claire Louise :
Agree. All depends on the interest rates of your debts and investments/savings, and what level of risk you’re happy with.
2024-11-14 10:32:36
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disco_voodoo_sound :
I agree with you on this.
2024-11-13 16:52:29
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Thanks 🏴 :
Paying off the mortgage early is a low risk investment. Some people aren’t comfortable with higher levels of risk
2024-11-13 18:24:00
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Geraint X R Evans :
Biggest consideration is tax if you’re over ISA allowance, 5% post tax (interest) is more like 7-8% pre tax
2025-01-16 07:54:47
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Alex Evans :
Think I have been to this national trust location
2024-11-14 09:15:49
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c2210 :
You're missing off that you're not only avoiding paying 5% debt, but you're gaining capital appreciation on the property. Not saying what's right or wrong, just factor that in.
2024-11-14 18:52:09
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tikkymctok :
Except those gains are taxed at 20 or soon to be 24% unless within a stocks isa which you can only add 20k a year.
2024-11-14 18:04:03
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Cultic :
I do both, it also depends on tax etc..I’ll pay the mortgage off next year with lump sums from my investments. You can’t beat the feeling of owning your house outright.
2024-11-13 19:39:25
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blacky77700 :
Depends if you are flipping property as you move up the property ladder?? Raised £500+k in equity in a short period of time, paid interest only mortgage. Downsized paid off the mortgage, Done at 38
2024-11-13 18:59:53
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dirtmountain8 :
it's mainly down to peace of mind for most people isn't it, they see that huge mortgage debt and stress about clearing it as soon as they can
2024-11-14 11:53:56
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Sarah May :
I agree. I’m I. The same position but crikey I would love to get rid of the debt!
2024-11-15 07:09:59
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extremesnorlax :
a mortgage rate is a risk free rate. a 10% investment return definitely isn't.
2024-11-15 16:39:12
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Drew 🇬🇧 :
The average rate of return on the U.K. stock market has only been about 6% but it’s not guaranteed and there’s risk you could loose value
2024-12-24 09:04:18
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dannnyyLFC :
Is interest on mortgages not front loaded though? Does it still equate to 5% comparison?
2024-11-16 12:23:48
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Tara :
how would you get 10%?
2024-11-19 09:17:12
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Jack :
Love your videos, you see finance just like me - there’s a interesting strategy having interest only mortgage and investing the normally capital repayment
2024-11-16 17:41:21
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LeeAlexB :
This is all true. But it assumes you can borrow at less than 5% and that you can generate returns of over 10%. That’s a wild assumption. That you’ve managed it in the past in no indication that you can do it in the future.
2024-11-18 13:24:43
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Elliott__coles :
Great stuff 👏
2024-11-13 19:33:06
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MyRandomLife :
Our mortgage is paid off. I quit my nhs job for a less stressful job, we’re enjoying life, we don’t have the financial burden and still able to save
2024-11-17 07:32:21
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Han :
Thanks for explaining investing stuff in layman’s terms! 🥰🥰
2024-11-14 10:35:52
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