Pay-off Your Mortgages Earlier
I have read this article online, according to John Charcoal (broker), borrowers who were paying more with their mortgage payments last year could keep paying the same amount and pay their mortgages off earlier. For instance, if a lender paying £629/month on a £100,000 at 5.75% could now pay £30 less at 5.25 % "the Bank of England" has lowered the Bank interest rate this year after recent figures showed a marked slowdown in mortgage lending and static house prices.
And his recommending that lenders should pay the same amount and probably would then be able to pay it off two years earlier. It's very promising indeed, but it's up to the lenders because according to Katie Tucker, of Charcoal.co.uk, that most people the mortgage is what dictates when you can retire and she also added , that by paying it off early...it can make a big difference to a quality of life not because of age, but the money that were free up to spend on some other things.
I am with Katie Tucker, not because I don't want to pay-off my mortgage earlier but because I could use some of the money to pay-off some other things. How about you guys? Why not check the site today and tell me what you think.
This entry was posted
on Friday, February 08, 2008 at 2/08/2008 03:36:00 PM.
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