Opinions on Paying Off Mortgage Vs Good Lifestyle.

[sasguru]

Would that be the house with all the tulip seeping up through the floor boards?

I can just imagine SB sitting on his stool outside his run down, decrepit cottage, chewing a straw, while his missus draws water from the well and his snot-nosed kids run around with the pigs and chickens.

[shaunbhoy]

Would that be the house with the extensive front drive with all the tulip seeping up through the extensive front drive?

Problem sorted. Marginally defective Victorian Interceptor. As Old Greg said..........design feature.

Where there's muck there's brass................apparently.



Still worth more than sas's compact and bijou Lower Wandsworth Broom cupboard.

[sasguru]

That's because he's in the Talking Complete Bollocks Premiership League.

Which bit of my claim do you think is bollux.
The fact that my mortgage-free house is worth more than a £1 mill?
And if so why do you think its bollux?

[sasguru]

Still worth more than sas's compact and bijou Lower Wandsworth Broom cupboard.

Wrong. Next!

[shaunbhoy]

Which bit of my claim do you think is bollux.
The fact that my mortgage-free house is worth more than a £1 mill?
And if so why do you think its bollux?

Your propensity for talking bollox preceding you I suppose.

[shaunbhoy]

House is worth £1 million +, average for London.

Hey sas? Which one is yours, and when did you take up the "Discounted Purchase" option?

"Vibrant Ethnic and Cultural mix"

[DimPrawn]

"Vibrant Ethnic and Cultural mix"

Violent

[ChimpMaster]

Ahem, paying off the mortgage leads to it's own problems ...

http://forums.contractoruk.com/gener...-now-what.html

The point being: it never ends. So you pay off your mortgage, then what? You buy an investment property, put some money in high dividend paying stocks, or into emerging market funds, or gold or what? It never ends. There will always be someone richer than you. You'll never have enough money. It never ends. It never ends!

If it's not too much hassle, pay off most of the mortgage and then just put some away and enjoy your life. After all, that's one thing which will end one day.

[al_cam]

While I have been in the past accused of being a on here for it, my sig says it all.

I maintained the same level of lifestyle I had before I was a contractor and put the rest into my mortgage.

I don't like risk so having no debts really appeals to me.
After the mortgage I will focus on ensuring a comfortable retiral.

That said, it depends on your circumstances - I have a family to think about, if I were young free and single I would think differently.

[DimPrawn]

While I have been in the past accused of being a on here for it, my sig says it all.

I maintained the same level of lifestyle I had before I was a contractor and put the rest into my mortgage.

I don't like risk so having no debts really appeals to me.
After the mortgage I will focus on ensuring a comfortable retiral.

That said, it depends on your circumstances - I have a family to think about, if I were young free and single I would think differently.

Indeed.

It all depends on whether you think you will need to buy a bigger house in the future anyway, your attitude to risk, how near to retirement you think you are etc.

If you are young and living in a bedsit, but have a good income and like taking risk for big rewards it would make more sense to take any savings and buy a BTL in central London (Zone 1 if possible), taking on as big a mortgage as you can.

With unrest around the world growing, the rich are going to be looking at buying hard assets like property in safe places. You can't get safer than London for your assets.

If you are nearer retirement age, already have a big house and a not likely to move, like to sleep at night, pay off the mortgage. With any spare cash buy gold and shares in oil producers and food producers etc.