14 January 2020
There’s something particularly scary when you first get a mortgage – that huge financial commitment, the length of time (25 or even 30 years) that leads every first time buyer doing the maths “I’m 28 now, so that means my mortgage will finish when I’m... hang on, that CAN’T be right!”
What’s more, the mortgage is secured against your property, so in all of those decades, if anything goes wrong it is your home that’s at risk.
After dreams of a Lotto win, being free of a mortgage is probably many people’s close second. Who wouldn’t want to be rid of that liability and monthly expense?
Well, although there is no quick fix (aside from a Lotto win obviously!), there are a number of pretty easy and painless ways to at least get to that debt-free utopia a little sooner.
The earlier you start, the bigger the results will be and believe me, it’s very likely that your 55 year old self will thank the younger you for doing it!
Here are some ideas to get you started but remember, financial decisions are complex so always get advice before making commitments, these are just to help you decide what might work for you...
Consider what might work for you, do some homework and begin the journey to getting mortgage free faster.
Get a cash offer from a member of The NAPB, without obligation. Many offer an ‘all in’ price so you know what you’ll be getting from the very start. And whatever is left after the mortgage is paid, is yours to keep!
Jonathan Rolande MNAEA MICBA MARLA began in the property business in the late 1980’s and is a Director of House Buy Fast and helped to found The National Association of Property Buyers in 2013. He has worked closely with The Property Ombudsman to develop a Code of Practice for Residential Property Buying Companies.