ITV This Morning: The Number One Secret To Becoming Mortgage Free

Order our bestselling book 📕, Financial Joy: geni.us/financ... (soon to become a Sunday Times Bestseller). We were guests on ITV This Morning (with Dermot and Alison) to teach the nation how to become mortgage-free. Enjoy! 😍😍
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MARY:
I'm married to Ken and we have two boys aged 8 and 6. I'm a Londoner, born in Hackney! :)
Day to day, I run the operations of The Humble Penny as a creative - doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.
When I'm not creating, I love vegan food, traveling, working out, and doing some outdoor fun things with my husband and kids :)
KEN:
I'm a husband to Mary and daddy first and foremost.
Former CFO by day with over 12 years of experience in the investment business. I'm a Chartered Accountant and hold an MBA from Cambridge University.
To explore my creativity, I'm a blogger, KZbinr, speaker, etc. I create from my experiences as a family man and First Generation Immigrant.
I have a passion for all things Personal Finance, Business, and Personal Development. I also love Photography, Music, Travel, and Sport.
We became Financially Independent aged 34 and our story has been featured on the BBC, ITV, Financial Times, The Sunday Times, etc.
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#mortgagefree #mortgagetips #mortgagefreedom
★★ WHAT THIS VIDEO IS ABOUT★★
ITV This Morning: The Number One Secret To Becoming Mortgage Free

[@TheHumblePenny]

Our Sunday Times Bestselling book, 'Financial Joy' 📕, is now available to order: geni.us/financialjoy 😊. Thank you ALL so much for supporting our work and spreading the message of Financial Joy ❤❤

[@shaymene8112]

Well done guys! great work

[@AlannahBMorin]

Don’t know you but so happy for you both. Thank you 🙏🏾 so much for sharing ….will purchase the book 📖 …🙏🏾💞

[@jeromefraser7322]

You guys are really killing it, love seeing your progress from blog to early yt videos to mainstream tv appearances

[@TheHumblePenny]

Thank you, Jerome! :). We thank God for the progress and thank you and our community for the ongoing support.

[@Sweetie8387]

As one of your earlier followers I can’t tell you how much it puts a smile on my face seeing you guys smashing it after all of your hard work. Well done 👊🏾 xx

[@BlackQWARN]

Totally agree

[@TheHumblePenny]

Thanks so much!!❤️❤️❤️❤️

[@___Saint]

Beautiful to see guys. I'm nearly financially free and while I needed to take the necessary action. Your courses planted the seed and give the strategy and inspiration to move forward. May the best of the past be the worst of your future. You deserve all your success with interest. Thank yo both.

[@kirkgrayuk]

We did exactly this, started from nothing, overpaid the mortgage to the max every year. Still managed a cheaper holiday but avoided takeaways, started shopping in Aldi, Primark, looked for sale deals online, waited a couple more years before changing cars. Our friends said we were stupid and should ‘live for today’. Well, we moved three times and paid off our mortgage in 12 years. Now we have a large detached house, kids have had separate bedrooms from birth and we are living the dream with holidays and days out that the kids are old enough to enjoy. I feel that the house has hedged against inflation very well and our friends, well we experienced from some of them divorce, depression and a sex change.

[@nassersiaf8167]

I made an overpayment every week as interest is calculated daily so you're balance is lower every 7 days therefore the amount you pay in interest is less. I managed to reduce a 25yr term to 14yrs and it felt like we had won the lottery.. granted me and my wife sacrificed a lot along the way , i.e. holiday's and the like.. now im getter older its nice to know we don't have that burden

[@TheHumblePenny]

Brilliant 👏🏾

[@jasmeetkaur7775]

Is there a restriction on number of overpayments one can make or can you make it as many subject to maximum of not exceeding 10% of your mortgage annually. Because it sounds like a really great idea to reduce your mortgage balance every week.

[@chrisattwood7814]

Well done I’m pleased for you 👍

[@nassersiaf8167]

@@jasmeetkaur7775 I tried to make an overpayment daily but the bank would only allow weekly, too much paperwork I guess for daily transactions. I came off my fixed rate on to a variable with no penalty so I could pay as little or as much as I wanted 👍

[@nassersiaf8167]

@@chrisattwood7814 thanks 👍

[@johnny9092]

So proud of you two. Never regretted following you guys, God richly blessed you guys and pray for greater openings for you two. Keep the hard work going.

[@jamestrevithick7786]

For most people in their 20-30s just getting enough money saved to move out of the rental market and have a mortgage is a dream. I understand staying with parents but often family breakdown or the location of available work does not allow it. I do agree with the principles. It is a shame this is not taught in schools. It seems our educational system would rather us know our tudor history rather than the perils of debt and the subtleties of a very complex tax system (for the record i think history is massively important but it paints a picture).

[@missc541]

The entire system, (education, health & wealth etc) is deliberately designed NOT to educate on these things, otherwise the rich will not be an elite group and they dont want you joining their club - they dont want to share, they want it all for themselves and loved ones the rest of us are considered their slaves!!

[@mrmeldrew693]

Financial education is so lacking in our school system that it must be kept out on purpose to keep us in debt and working for longer. Doing great work with this.

[@TheHumblePenny]

Thank you so much 😊

[@Moazz786]

My dad paid his mortgage off early with all the sacrifices while my uncles instead bought more house. Guest who was better off in the long run, my uncles as properties made them rich

[@annamuja1831]

Lovely couple. Congratulations Mary and Ken. I can't wait to read my copy of the book. It is waiting for me on a table. Wishing you all the Best.

[@marketbeans]

Mathematically you have to be able to pay 4500 pounds monthly mortgage to pay £380,000 mortgage in 7 years (84 months). It’s simple. You need to make that amount of monthly income to start with. Just a thought

[@dicerevo]

With dual incomes of say over 50k (each) that is doable. You would just have to live off one income.

[@richardpreece4974]

You can pay off loads of stuff when you earn over 100k each (50k each wouldn't be enough to pay that 389k balance off in 7yrs and still be able to pay bills) . On the 250k example on a 40yr term mortgage the payment would start around 1200 a month before any overpayment or 25yrs would start at £1460

[@sheunyerokun9691]

I am overjoyed for you both🎉🎉🎉🎉🎉

[@262charlene]

Well done Ken and Mary on your success 😊 I've been following your channel since the pandemic and you've really helped to change the financial trajectory for my family. Sharing positive information is second to none. Thank you once again.

[@TheHumblePenny]

Much appreciated 🙏🏾

[@TheWellnessAbbey]

Well done, both!!!!!! So happy for you!!!

[@carls-95]

Simple, but often overlooked strategy I think. Also, good to hear the staying at home with parents strategy, that's the real key...

[@marigoldbeam5475]

Super!

[@joeyfantana2724]

Managed to pay ours off end of last year. We had a plan with overpayments and were on track for 3 years from now, but a family bereavement inheritance meant we could do it sooner. Amazing feeling overall but even better to clear it earlier than planned. What got us on this path was finding your channel in 2020. So thank you, gave me a complete mindshift and the missus was all in on the idea too!

[@TheHumblePenny]

Brilliant 😊👏🏾👏🏾

[@Stubbo1950]

The idea of paying off the mortgage early is amazing but mathematically I can't make it make sense. That £1,000 a month could be invested into just the S&P 500 and make an average of 10-12% each year, which would make me a lot richer.

[@TheHumblePenny]

Potentially, yes. But it's not just about the maths. It's a much bigger topic. Money isn't always about logic. For various people, other factors rank higher. But we completely get your point. We did both and gradually paid off mortgage while also investing in stocks. We cover this topic extensively in our debut book, Financial Joy geni.us/financialjoy

[@Gtbg641]

Or instead of buying that book check out Dave Ramsay you tube videos and his baby steps. I agree with you, mathematically it makes no sense but Dave hosts a US call in show and gives some compelling arguments connected to psychology of money.

[@chrishart8548]

​@@Gtbg641and always recommends rice and beans. And sell the car.

[@martinfarrow2825]

Even if you pay over the 10 percentage it’s still less of a charge than what the interest would be. I paid my mortgage off it’s the best thing I ever did . I’m 42 years old

[@TheHumblePenny]

Thank you for sharing and congrats!

[@AS-yg5dt]

Great clip! Great tips and congratulations on the book and for getting onto the Sunday Times bestseller list! All the best 👍🏽😃

[@mkpatte]

You were excellent in this interview Ken and Mary. Very composed and clear. Great stuff.

[@catseyes8377]

Agree

[@K13-uf5ze]

Great advice and well done to this couple. However, important to note that in most cases, if a savings account offers a greater rate than your mortgage, it may be more sensible to place your overpayment sum in the savings account.

[@TheHumblePenny]

Thanks for sharing. We had this point and more to make but our time was short on the show. Hopefully, we get a part 2.

[@Valera_Scotland]

Just bought your book. Reading the first chapter now. Thank you so much

[@TheHumblePenny]

Thanks so much!! 😊❤️. Happy reading :) Please do us a favour. As you read, please take 2 mins and jump on Amazon or Waterstones or Audible and kindly write us a review. Tell people what you love about Financial Joy and why they should get it. Be specific. Thank you 🙏🏾🙏🏾

[@smilingpisces1]

If you've been over paying your 25 year mortgage and then you come to renew after 5 years. You've managed to cut an extra 3 years off your mortgage (let say). Do you then renew for a 20 year mortgage Nd have a smaller monthly bill or because you know you had saved 3 years from overpaying. Do you try and get a 17 year mortgage instead? And overpay on that (if you can)?

[@marlygee]

Either or, it can give you options. Personally I’d go for the 20 year and then continue to overpay. That way you are still given the option to pay less if there was some difficulty or the boiler needed replacing for example.

[@travelwell6049]

Just pay it off completely if you can. You’re paying interest all the time, so just pay it off.

[@pauljamesdidit]

Love seeing you both be shown the light you deserve on a mainstream platform like this. Interested to know though, when you paid off the mortgage did you pursue property as an investment such as taking out a B2L mortgage for example as my wife and I are thinking along those lines at some stage.

[@joelthomas1222]

Love you two...keep smashing it 😊

[@TheHumblePenny]

Thank you 😊

[@ronakjoshi5198]

It’s about balance, yes overpay as much as possible and also invest as it’s about marginal gains.

[@TheHumblePenny]

💯. This is what we actually did but didn't get to say everything we wanted on the show as we only had a short time slot.

[@imanijx]

Big big congratulations, this is so good to see! This is just the beginning. 🤩🤩

[@TheHumblePenny]

Thank you so much!!

[@angelwings1]

Well done guys x We’ve advised our eldest to stay at home while she saves for a house. I’ve told her not to rent as it’s a waste of money & it’ll take a little longer to save for a house. We get some rent for her but not loads as she is saving up.

[@TheHumblePenny]

Wonderful that she gets to build up her savings quicker :)

[@JAYJAI77]

Just ordered the book! Can't wait to read it 😎

[@TheHumblePenny]

Amazing 😍😍. Happy reading. Please jump on Amazon or Waterstones or Audible and drop us a review as you read. Share with others what you love.

[@traciesmobile683]

Saw this video when itv posted their version of it couple of days earlier. Definitely gives credence to you both.

[@TheHumblePenny]

😊🙏🏾🙏🏾

[@chinazumunonye9235]

Congratulations to this power couple.

[@TheHumblePenny]

Thank you 😊. Do share with others

[@greenkitty82]

I'd say to save money tell yourself everyday "I am enough as i am, i dont need to change anything, i never need to impress anybody, I don't need those things" and it will help make it easier to save extra money.

[@daveking2047]

My business partner and I brought an office last year with an £800,000 mortgage. We both drive simple cars and save what we can from the business rather than taking it as dividends. We overpaid £200,000 in year 1 and saved £1,100,000 in interest. What you have to think when buying things, if I brought a nicer car, that car wouldn't cost me say £50,000. It would cost me £50,000 plus the interest on the mortgage that I could be saving. Financially free, then do as you like 😁

[@tonia_scotcog2906]

Ken and Mary. I am very proud of you both. Thank you. You actually got me on the property ladder. I would love to come live on your show soke day and speak to you both and share our journeys with you. Let me know what you think. Its been amazing and incredible.

[@TheHumblePenny]

Thanks so much 🙏🏾. Please DM with more about your journey here on Instagram: Instagram.com/thehumblepenny

[@1stsummernites]

I've told people at work to overpay & they are now - they love seeing the benefits ❤

[@chrishart8548]

If you have a mortgage at all you are a lot closer than more than half the country.

[@Viewer41]

Sorrry, I can't buy your book. 📕 My spare money is being used to pay off my mortgage early.....

[@TheHumblePenny]

Do you do stand-up comedy?

[@jasonswife001]

Can you give me the equation to pay off a £113k Mortage in 5 year? It’s a 30 year mortgage but I want to pay it off before the fixed term ends. Thanks

[@adwuni3506]

You guys have always been amazing. God is good 👍 ❤

[@TheHumblePenny]

God is good, indeed 🙏🏾

[@blxck3978]

Well done !!

[@douglassmith215]

Well done guys! Congratulations on your success! You’ve done an amazing job

[@TheHumblePenny]

🙏🏾🙏🏾

[@feliciaflinders]

❤❤❤ love seeing your progress. Book, ordered , read 📚 👌. Highly recommended for helping us all get to financial freedom 💰

[@TheHumblePenny]

Thanks so much 😊❤️❤️. Please take 2mins and leave us a review on Amazon. Tell us others what you love

[@talk2s5061X]

Good work guys ❤

[@ritacenteno4354]

👏🏻👏🏻👏🏻 well done!!!

[@drew_peabawlz]

My wife isn't intrested in paying off early, I'm using my monthly spending cash and saving most of that to pay off early

[@Optimised7]

Post nup, protect your share

[@TheHumblePenny]

What's she interested in?

[@drew_peabawlz]

@@TheHumblePenny life experiences, trips/holidays etc, she's not bothered about buying material things.

[@scottjames55]

All good, however ultimately comes down to how much you earn and how much money you have left over after mortgage, bills, food etc Some people unfortunately are living paycheck to paycheck just making ends meet. They have no chance 😢

[@justgidz]

I hope to be like you guys one day. Congratulations to you both 👏🏾 ❤

[@TheHumblePenny]

You'll get there. Keep going 😊

[@parvinkukar1259]

Great view and agree as one who is also mortgage free. It’s all about sacrifice as in the early days we would rent out a room in our house. Personally I did not over pay monthly but in lump sum when I had enough to cover my daily expenses as I did not want a monthly burden on myself. Also I would say it’s a balance about investing money too that can generate additional income. One thing I’ve learned in my whole life is not how much you earn but how much you save

[@TheHumblePenny]

🎯🎯

[@AH--173]

Well done guys.

[@TheHumblePenny]

Thank you

[@priscillahylton6744]

Absolutely amazing and inspiring! God bless you both!

[@HDY0903]

Its very easily possible. People think its not. We took a £372k mortgage out in London at age 27. I pay the mortgage £1450 per month, wife pays bills £1k a month. We have a child. She works at home, and im self employed so im at home too. We save exactly £1800 per month. We have kept 20k in savings which we do not touch! So far we have over paid under 70k. We are on track to paying off by age 35. House is currently worth £700k as we also spent alot having an extension and loft. I dont know why people think its impossible when we are proof we can do it London with a crazy mortgage. If your up North and your entire mortgage is only £150k you can nock that out in literally 5 years!

[@rochellevidal]

Can you explain how you manage childcare? Because this is the main reason my partner and I can't overpay and are looking to move. London childcare prices are literally a salary and more 😅

[@christinekwakwa]

Congratulations, well done for being on the show!

[@smartfrogeducation4134]

Why would you pay off your mortgage? Better to buy assets that pay your mortgage

[@sonasp1961]

The woman presenter is incredibly frustrating - interrupting and loud. These guests were great, well done to them and for getting the message out there.

[@Eoin_D]

She is great

[@Afrinaturality]

Is that you, yeah?! 🙌🏾🥰👏🏽

[@TheHumblePenny]

Lol 😆. Small small progress

[@ryannowell3802]

Paying your mortgage off is not always a good thing. If you can earn higher interest elsewhere that is greater than your mortgage interest rate you are better saving/investing your money and keeping your mortgage. A mortgage is not bad debt and when leveraged properly is a fantastic financial tool

[@LeanneWedley]

Yeh exactly. I’d be interested to know if this couple and people commenting to say they’ve overpaid have treated their pension as seriously. My plan is to hammer my pension in my younger years so it has lots of time to mature then I may start prioritising overpaying the mortgage a bit further down the line

[@rb7007]

I was so shocked to turn on This Morning and saw you two! Wow. Great work guys. Very inspiring. 👍

[@TheHumblePenny]

Thanks so much!

[@stumac869]

How to become mortgage free, spend less and save more...there summarised it.

[@blackbeautifulandsmart2849]

Mortgages are called the death pledge for a reason. Most people won’t be able to pay it off before death. Mortgages often result in you paying more for the house than it is worth unless you pay it off super early of course.

[@dj0men666]

Its good to have that security but the other flip side is uve a lot of cash tied up in that property that you are not making work for you. Had you bought other assets with the cash and cashlowed them they would have paid your nortgage down for you or bought more assets and still had them providing income once paid down. Now you are sat on a pile of cash thats only gaining capital gains. Depends how much peace iof mind is worth versus income and needing to work still. Well done for getting into a great position though. 👍 tou can still release equity to do the above if necessary. Debt can work in your favour too

[@taqveem]

Congratulations guys! Well done, and inspirational 🎉

[@TheHumblePenny]

😊🙏🏾🙏🏾

[@baldeepbirak]

Getting a 13th payment a year is a good idea.

[@carltongregory3556]

Such a good feeling when it's paid off😊

[@TheHumblePenny]

💯

[@garywinterbottom6073]

Making money work dont buy expensive items think carefully get a plan together up your payment's monthly to reduce the debt.😊

[@LifeofFlora]

Congratulations well done 👍🏿

[@Kse1010]

Well done

[@anthoniaotaniyenarigbe797]

I'm saving this video for future reference. 👍🏾👌🏾

[@TheHumblePenny]

🤗

[@jamesl5149]

Ooh, you're famous!

[@Rhino11111111]

I prefer to invest my money. I’ll never pay off my mortgage before retirement and at least this way I’ll have the most money possible out of all outcomes when it goes for retirement.

[@TheHumblePenny]

Please do what works best for you. What we share isn't for everyone. But you can achieve both. That's what we did. We were also investing in stocks.

[@homodeus8713]

Now they have more cash to invest.

[@Rhino11111111]

@@homodeus8713 true, but their money hasn’t been invested as long as it could have been which is the most important thing.

[@travelwell6049]

If your investments make you more money than the interest on your mortgage or other debts then it makes sense.

[@mohammedfaizan2355]

Nowt new been doing this for centuries

[@xoriyosomali]

Super.

[@Ngry_W]

Can those 2 not be quiet for a minute and let the guests speak, lol

[@marklydon435]

Stop buying shit you don't really need. Living with parents is a cop out, you might as well ask them to buy some the house for you. Rather than leaching off them and compromise their lifestyle.

[@DJ-mx2os]

Start following dave ramsay 7 baby steps highly recommended.

[@raninazreen5718]

lol 😂 who needs a mirgatge lol 😂

[@TheHumblePenny]

No one needs a mirgatge for sure :)

[@David.241-v2n]

Brother congrats on your tv appearance and box but you must let your partner interact more instead of you always yaking the lead as can look like your controlling. Co grats with everything

[@rebekahroyal2679]

Congratulations 👏🏽👏🏽👏🏽👏🏽 Typically banks like to keep the sheep in mort-gage death. Single Mum free after 11yr mortgage 😁 And never again.

[@TheHumblePenny]

Congrats to you 😊

[@pete1w]

So what's the big secret. This is so obvious. We've overpaid for years on every house we've bought.

[@Solihul886]

So work hard, save your money and spend extra paying down mortage. Is that really something that needs explaining to people? If that money spent on overpayments was spent on an investment, you would become far more wealthy and allow inflation to errode your debt naturally. 250k debt in about 30 years would be worth the equivelent of around 70k today. 70k to be mortage free sounds less scary. Especially when you have used that time to mske multiple sources of revenue

[@chrishart8548]

£112,000 saving does matter of course it does. Who doesn't care about having £112,000 or not.

[@chrishart8548]

I don't even have a mortgage i cant overpay

[@danvalentine7238]

Don't get one and u will be mortgage free. simple

[@allforclout2040]

Dermonts such a bellend

[@CarlosFandango1975]

If £100 overpay a month saves 3 years then why is £500 not 15 years saved🤔 fishy maths

[@TheHumblePenny]

Not fishy maths. It's called Compounding Interest, not Simple Interest. Debt compounds. Do look it up.

[@lloydbatkin1452]

This is so unrealistic and so misleading.... They're talking about a 5% product over a full 25 year term. Most products are sold at 2-5 years. So to claim you're going to take 10 years off and save 83k is ridiculous.

[@anon4518]

❤

[@TheHumblePenny]

🤗

[@lissaToday5787]

This woman presenter is soo bloody annoying.

[@travelwell6049]

Alison Hammond is a national treasure and the people love her.

[@lissaToday5787]

@@travelwell6049 Sure

[@yourbassplayer007]

👏👏

[@Blackfeet]

✊🏾✊🏾

[@TheHumblePenny]

🙏🏾🙏🏾