How to Pay off your Mortgage Early
June 15th, 2007 | by admin |Paying off your mortgage can help save you $1000s of compound interest payments.
To pay off your mortgage early there are various things that we can do.
1. Be Determined
Make a determined effort to put money aside for paying off your mortgage early. It could be instead of paying into a savings account or pension
2. Remortgage
It is important you don’t stay on a higher rate than necessary. Look for ways to reduce interest payments. The best way is through remortgaging. Move your mortgage to a lower deal. Guide to Remortgaging
3. One Account Mortgage
The one account mortgage is a way of combining your mortgage payments with your current account. It means that any savings you have will be used to reduce your mortgage payments. See more tips How to pay off your mortgage
One Response to “How to Pay off your Mortgage Early”
By PH from Bad Credit Remortgage on Feb 11, 2008 | Reply
Yeah, fully agree with this one. We are seeing more and more applicants looking to use a remortgage to consolidate debts. The interest rates between a secured loan and a remortgage can be significnat over a long period and applicants can save £1,000’s in interest rates. However, we always advise applicants that debt consoldiation isn’t always the best route to take it appears that heavy marketing on TV and in the papers has left people feeling that debt consolidation using a remortgage is the answer to all their problems. Could be just the start if you ask me!