Pay Off Your Mortgage In Two Years Blog Discussion

Former_MSE_AndreaFormer_MSE_Andrea Former MSE
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This is a Chat Forum discussion on Martin's 'Pay Off Your Mortgage In Two Years' blog that you can read here.
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  • I watched this programme purely because I was fascinated with the idea that it could conceivably be possible to pay off £86,000 in 2 years.
    The couple have saved a good bit of cash....but are starting to look as if they are unravelling as a couple. Will be interesting to see how it ends.
  • Joe_BloggsJoe_Bloggs Forumite
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    I only caught the last half hour of the show. It was fascinating viewing. What financial suggestions were made to the couple ? Fortunately the participants of the first episode are new MSE members and have answered questions regarding the experience. This program also has a daft title like MMR. I face early repayment charges so I can't participate without throwing money away.
    J_B.(What happened to Alvin Hall ? What was the name of the presenter ?)
  • Smiley_MumSmiley_Mum Forumite
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    Joe_Bloggs wrote:
    I only caught the last half hour of the show. It was fascinating viewing. What financial suggestions were made to the couple ? Fortunately the participants of the first episode are new MSE members and have answered questions regarding the experience. This program also has a daft title like MMR. I face early repayment charges so I can't participate without throwing money away.
    J_B.(What happened to Alvin Hall ? What was the name of the presenter ?)

    Wasn't Alvin Hall on BBC, not ITV?
    “Ordinary riches can be stolen, real riches cannot. In your soul are infinitely precious things that cannot be taken from you.” - Oscar Wilde
  • I miss Alvin Hall. This money or your life book is fab. This man was seriously in debt and now has saved a year's salary.
  • BNU_2BNU_2 Forumite
    505 Posts
    Noddle wrote:
    I miss Alvin Hall. This money or your life book is fab. This man was seriously in debt and now has saved a year's salary.
    I'm a big fan of Alvin's too, always enthusiastic and entertaining - but I imagine you are on very dodgy territory showing allegance to him on this site - he and Martin being in direct competition for top ranking in the book sales charts!
    :EasterBun
    [SIZE=-1]I can resist everything except temptation. [/SIZE]
    [SIZE=-1] Oscar Wilde [/SIZE]
  • innovateinnovate
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    I didn't see the whole episode, only caught the back-end, so I don't know what figures and circumstances were involved.

    I must say, I am a bit surprised that the BBC (reputable broadcaster, by heritage) would engage in features about paying off a mortgage in two years - yes, it can be done, but the unspoken implication that everybody can do it is slightly far-fetcheed, and is more akin to sensationlist press (Sun, News Of The World etc).

    Not sure what the BBC are trying to achieve with the series - sound advice to Joe Public, or increase the viewer numbers?

    Hell will probably freeze over before we get any BBC official to explain on MSE what the purpose of the series is.
  • BNU_2BNU_2 Forumite
    505 Posts
    No, I missed the beginning too, so I don't know how much they are aiming to pay off either, but I am not offended by the unrealistic principle of the programme.

    It does makes a nice change in the whole 'debt reduction reality TV genre' that is going round at the moment, not to have 20somethings living a Champagne lifestyle and expecting their parents to bail them out - like on programmes such as Spendaholics.

    I don't think many people could pay off their mortgage in 2 years, but the message that too much debt is a bad thing, and showing that paying it off early can free you up and give you more options in life cannot be entirely a bad thing surely? It is just a shame that this couple were allowing it to mar their relationship, money is not the be all and end all after all!
    :EasterBun
    [SIZE=-1]I can resist everything except temptation. [/SIZE]
    [SIZE=-1] Oscar Wilde [/SIZE]
  • innovateinnovate
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    Al Mac, I can very much associate with what you said.

    For the vast majority of people, settling a - usually - 6 figure sum based on salaried earnings only over a period of two years is simply not possible - not even for the 'average' high earners.

    I don't understand what the BBC are trying to achieve with this programme, and I, and a whole bunch of people I know, would certainly vote for MMR being of much more value to a much wider audience.
  • pennymakespoundspennymakespounds Forumite
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    i was very disappointed with the programme starting with the fact that even though there was 58 minutes compared with martins' MMR of 23 'ish minutes it didn't cover any real ground at all.

    i thought it totally lacked substance and content.

    most other posters have covered these points.

    concentrated on them earning more .. didn't even do that to well i thought. !

    only real "financial" comment was logic of "accumulator" which is very relevant ... calculating something out over a year etc.

    didn't cover anything about the breakdown of their spend or anything to do with deals that they had or had not.

    programme really was like watching paint dry. !!

    as others have said , the title of "pay off mortgage in 2 years" really is very unrealistic for the vast majority.

    i have already posted that i thought the MMR series was generally very good but needed more time to get into detail.

    Solution is for the bbc to give martin a one hour show .. as he deserves !
  • MSE_MartinMSE_Martin MoneySaving Expert
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    why not email the bbc this :)
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
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