How to Pay Your Mortgage Off Quicker and Save Thousands

How to Pay Your Mortgage Off Quicker and Save Thousands. This may not work for everyone or may not be possible if your lender doesn't permit it, but it's certainly worth considering. NOTE: This may only be available to USA lenders but if anyone in the UK can advise on lenders here who can do it, let us know in the comments please.
Additional payments towards the principal within the allowance a year, could be a potential other saving worse case.
I have a few more videos on other hacks I think could help, and I highly urge you check out the latest few videos on Tips to help first time buyers and how to earn more to help you during these testing times.
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how to save £30000 in 5 years to buy a house
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[@TheAnxiousInvestor]

FREE 3-months for Lendlord Premium! tracking.lendlord.io/click?campaign_id=23&pub_id=34

[@TheAnxiousInvestor]

NEW Partnership special offer: Set up a LTD Company & Business Bank Account for £12 stay.osome.com/Anxiousinvestor12 What's your favourite mortgage hack?!

[@TheAnxiousInvestor]

Link to the website used is in my description if you need guys along with some more information.

[@TheAnxiousInvestor]

Crazy amount of spam messages flooding the comments atm @KZbin can you sort this?

[@stephen6262]

My variable rate will be 8.44 percent scary. Thanks for the great videos

[@TheAnxiousInvestor]

Thanks for watching buddy

[@pindikaur7034]

Great video definitely be paying my mortgage off early x

[@TheAnxiousInvestor]

Good luck :)

[@aaronl9379]

Great video bro keep it up always love the content, hope you and your family are good bro 👊🏾

[@TheAnxiousInvestor]

Appreciate that little bro. Keeping well, I hope you and the family are too

[@aaronl9379]

@@TheAnxiousInvestor doing superb thank you bro 👊🏾

[@coolmonkey619]

Honest what age is it too late to switch careers path

[@TheAnxiousInvestor]

Mate anytime. I quit construction PM before I started after graduation at 23/24. I went into boxing. Got injured, went into PM for IT company. Went back to school did a masters in social work. Quit that went back into property Fulltime. 33/34 tried starting Healthxcel (current). We ain’t here forever buddy, do what you want. But try and stay consistent for a bit at it, because usually you can become good at something if you stick with it for a long enough time period.

[@v_c4864]

What about paying a lump sump once a year? I what are the pros and cons?

[@TheAnxiousInvestor]

So you just need to ensure you don’t get penalised as lenders will usually have a limit on what you can pay. My parents do this, even though it’s not something I’d do lol and tell them that haha

[@sunilparmar7012]

Does high inflation make the mortgage cheaper or more expensive over time?

[@TheAnxiousInvestor]

Good Q. Over time the real value of your debt goes down. One reason behind interest only mortgages. A £100k today owed in 25 years, won’t be as difficult to pay off

[@NadiaUsman1]

Please could you expand on this, for example would someone be better off spending money on making their home more valuable by extending now etc than using that money to reduce their capital repayment?

[@thewarriorhk]

@@TheAnxiousInvestor so if my parents home has been 1% interest only the last 15 years and now inflation is going to 15% + and we are on a fixed fee its a better because the debt will be easier to pay off?

[@Sophie-kk3st]

@@NadiaUsman1 it depends on individual cases and is eventually a maths problem. first use a mortgage overpayment calculator to see how much in interest you'd save with the amount that you plan to over pay, this gives you a number. it's useful to consult an agent to see how much your planned upgrade would add value to your home at the point you sell it, which gives you a second number. compare to two numbers and you'll have an anwser, it's not crystal clear as you'll have to factor in future interest rate settling at a higher level, and inflation which will probably make home upgrade more expensive in the future