Pay off your mortgage in 2 yrs - Episode 3

yorkshireman

The name of the nutritionist is Linda Johnston - I understand she is sometimes on day time tv as 'the Food Doctor' and works for The Holland Park Clinic. The have numerous books published.

Xenomorhic

I really would have liked to find out more about the couple that replaced her. Don't they get a show of their own? Seemed a bit of a waste being as detailed as they were on her instead..

lipidicman

Xenomorhic wrote:

I really would have liked to find out more about the couple that replaced her. Don't they get a show of their own? Seemed a bit of a waste being as detailed as they were on her instead..

Yes but it was useful to see someone who whom the idea didn't work. A lot of people on here have been saying it is unrealistic and although I dont think this is true in general, it is for some. Like another post above I see the 'risk adverse' side of the latest lady in myself. The problem was she only really investigated a very risky foreign property idea. Why she didn't run with the event planning though I dont know.

The great thing about this programme for me is that it isn't the same each week (like so many makeover shows). People have said 'they dont mention tax' or 'getting a cheap mortgage'. However details like these are the same for everyone, what I find interesting are the different approaches each week. I think for a lot of people this programme could be quite inspirational
.

xnikkix

I'd agree that the programme has certainly been inspirational and although I probably won't have a mortgage for at least 3 years because of Uni I will be looking to overpay when I finally step on the ladder. I won't be looking to pay it off in two years but I'd hate to go the full 25/30 years after seeing just how much the bank will gain from interest.

Perhaps they should have run an episode at the start of the series on basic cost cutting, tax implications and the business set up process?

Nikki

lipidicman

Maybe Xnikkix, but a good factual website would also have been a good idea for the bits that wouldn't make good TV.

A good tip for those that want to investigate the effects of overpayments and interest rate changes is to look at the 'Loan Amortization' template in your copy of excel. This will reveal that doubling you payment will cut the repayment time to 1/3. Also, £2k spent in the first year would save you ~£5000 over the 25yr period of the loan. Makes you think twice about that new sofa doesn't it and shows the downside of extending your mortgage as a cheap personal loan (ie low rate, but long timescale). Very interesting

nicola1982_2

Lol - I keep expecting him to suggest the female homeowners take up stripping or something for quick cash!!!

lipidicman

Was the accountant lady the last episode (until year 2 is complete)? It wasn't on yesterday?

Hywel_2

Its on again next week, it wasn't on this week because of the Winter Olympics.

I only managed to watch the lady accountant one last night. Blimely it was hard work. She just wasn't able to understand what it was all about. She wanted someone to set up the Events Management business and do all the work so that she could collect the money herself. I don't why she went to Turkey, just seemed like she wanted a holiday to me.

It would be good if they do a show for the replacement couple. It looks like they did quite a bit and were full of ideas.

lipidicman

OK, but the Olympics was on the week before and there was a show wasn't there? Maybe I missed an announcement at the end! I can't remember how many shows we get, are there just one or two left?

Anyway, thanks Hywel

savingforoz

According to my TV guide next week - March 2 - is the last one. Shame, I've really enjoyed it! Agree with those posters who feel it has its limitations, but still find it interesting.