15yr Mortgage Paid In 3??

ccblinds

WITH AN OFFSET IS IT REALLY POSSIBLE TO PAY OFF A 15YR MORTGAGE IN 3 AS SOME OF THE CALCULATORS SHOW???

BASED ON 80K

SOUNDS TO GOOD TO BE TRUE!!

ANYONE??
DAVE

TangentMan

Depends on how much you are offsetting i guess. There is a sticky that goes into the in and outs of Offsets.

The thing to remember is that often the calculators assume a consistent offset balance and that if you income is higher than your outgoings then the "profit" will all be offset (not spent).

They have to assume something, so it isn't completely rubbish, but most people's current accounts (for example) don't behave quite like that.

If you are looking at one of the major lender's websites, it is probably worth chatting ti over with one of their advisors - OK they are biased on the products they are offering, but they should at least understand them.

ccblinds

Its Hard As Some Say Good Some Say Bad

Looking At The Figures It Sounds Good

But Long Term???

I Am Self Employed And Could Run My Accounting This Way And Also Tax Money Etc
Which Would All Help, With Possibly Overpayments When Possible
Just Like The Idea Of Saving 36k In Interest!!!

Thanks

Dave :t