Opinions on Paying Off Mortgage Vs Good Lifestyle.

[sasguru]

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

.

Indeed it does.
You have so much money coming out of your ears you worry about where to put it.
Although I'd rather have that worry than the opposite.

[DimPrawn]

Indeed it does.
You have so much money coming out of your ears you worry about where to put it.
Although I'd rather have that worry than the opposite.

Do you have a good income source for your retirement?

Where will you retire to?

[sasguru]

Do you have a good income source for your retirement?

Where will you retire to?

Well some of the money is going to conventional pension pots (free money from firms).
Some to mixed assets fund.
Some will go to London BTLs (bought with cash), when the time is right, so that there is a steady rental income stream.
Going to Portugal in May to scope out retirement homes - I like Oporto (nice wines, mild weather, few chav brits)

[DimPrawn]

Well some of the money is going to a conventional pension pot.
Some to mixed assets fund.
Some will go to London BTL (bought with cash), when the time is right, so that there is a steady rental income stream.
Going to Portugal in May to scope out retirement homes - I like Oporto (nice wines, mild weather, few chav brits)

I reckon now is the time to buy in central London (note this does NOT apply to the rest of the UK, which is like a completely different market). Money from wealthy foreigners is pouring into London assets, and that is going to trickle down to smaller properties, rents are going to follow inflation.

I'd leverage and use your cash as a small deposit to take out a BTL mortgage, but get a Z1 property if you can, the bigger the better.

[sasguru]

I reckon now is the time to buy in central London (note this does NOT apply to the rest of the UK, which is like a completely different market). Money from wealthy foreigners is pouring into London assets, and that is going to trickle down to smaller properties, rents are going to follow inflation.

I'd leverage and use your cash as a small deposit to take out a BTL mortgage, but get a Z1 property if you can, the bigger the better.

I don't think the sort of properties in areas where foreigners are buying really adds up in terms of rental yield (although I haven't done my sums on this for a while)
I'm happy to sit on the main residence which is in a wealthy foreigners/bankers area and let that rise in value.
Later we will upsize to somewhere nice in Surrey, say, and use the freed up cash to buy 1 or 2 high yield properties (yes we can upsize and still pay less, London is so expensive)

[shaunbhoy]

I'm happy to sit on the main residence which is in a rundown Somalian/Bangladeshi area (Hackney) and let that rise in value.
Later we will upsize to somewhere pretentious but not quite so overpriced in Surrey, say, and use the freed up cash to buy 1 or 2 more virtual motorbikes and a big old Eco-Shed for my train set

FTFY