Originally posted by Diestl
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The one thing to think about if you're diverting funds to mortgage overpayments from other investments (i.e. shares) is that you'll be missing out on compound interest.Comment
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Originally posted by GoyaThe one thing to think about if you're diverting funds to mortgage overpayments from other investments (i.e. shares) is that you'll be missing out on compound interest.Comment
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Originally posted by rootsnallNeeded a bit of thinking about but it works exactly the same but in reverse ( and is tax free ). The interest on the chunk you chose to not pay off compounds on to the outstanding mortgage.Comment
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There is some good investment potential here for any wannabe property developers and/or buy-to-letters out there.
http://cgi.ebay.co.uk/ws/eBayISAPI.d...m=120079905388Comment
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sorry for being thick - but could you explain what you mean
>>The interest on the chunk you chose to not pay off compounds on to the outstanding mortgage.
>>Exactly - I finally saw the light on that one a few years ago, particularly the tax-free bit.
what tax free bit?Comment
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Originally posted by Fishfacesorry for being thick - but could you explain what you mean
>>The interest on the chunk you chose to not pay off compounds on to the outstanding mortgage.
>>Exactly - I finally saw the light on that one a few years ago, particularly the tax-free bit.
what tax free bit?
By not paying of a chunk of your mortgage you end up paying interest on that chunk which effectively compounds over the period it takes to pay off the same amount in the conventional manner.
Over payments on a mortgage are effectivly a tax free investment at the mortgage lending rate. The same money invested in other ways is potentially subject to tax, depending on the type of investment.
Bottom line is, if you have a mortgage then 99% of the time it makes better financial sense to pay that mortgage off rather than invest money in other ways."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Originally posted by DaveBBottom line is, if you have a mortgage then 99% of the time it makes better financial sense to pay that mortgage off rather than invest money in other ways....my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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Originally posted by Lucifer BoxThere is some good investment potential here for any wannabe property developers and/or buy-to-letters out there.
http://cgi.ebay.co.uk/ws/eBayISAPI.d...m=120079905388
timComment
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Originally posted by tim123So what was the best offer then (I must be the only person in the world without an ebay account)
tim
£15KComment
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