Why You Should NEVER Pay off Your Mortgage Early
Mark has been investing in property for 15-20 years, approaching the 100 mark in terms of deals made and has a 70 million equity stake in various portfolios. One of the questions he repeatedly gets asked, is whether it is worth using additional cash to pay of your mortgage or if it is better to invest it elsewhere. Listen in to this episode to hear his thoughts and answers to this common question. KEY TAKEAWAYS If you are even slightly disciplined you should not pay your mortgage off. If you are worried about interest rates then look at fixed rate mortgages. If you can invest your cash somewhere else, you will earn more back on that lump sum than you will be paying in interest on your mortgage. Property is still by far the best investment opportunity particularly in terms of lending from banks; they will always give you a great interest rate on anything you borrow. BEST MOMENTS “Why would you want to pay of your mortgage if you can get consistently good returns by investing in your isa and getting much much higher investment returns” “You’ve got to make your money work for you, no one else will look after your money like you do” VALUABLE RESOURCES https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/ ABOUT THE HOST Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties. CONTACT METHOD Email: [email protected] LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive‘Brought to you by Progressive Media’: https://progressivemedia.uk/