REMINDER Pay off your mortgage in 2 years

MORPH3US

Anyone remember a year ago (although it doesn't feel like that) watching a programme called Pay Off Your Mortgage in Two Years?

Well its back on this Thursday for 8 weeks and we finally get to see if anyone managed to pay it off.

Cannot wait to see this.

M

Martinslovechild

There's some info on the programme on the René Carayol website.



Can't wait to see it myself. The first programme is about the lovely couple from Cornwall (Dan & Lucy); Dan was the guy who made the Hot Pod heaters in his garage and Lucy was the yoga tutor.

If you missed that particular episode first time round, you can view it on the Carayol website here.

MORPH3US

They must be a dead cert to pay off the mortgage, as long as he kept on making and selling those amazing wood burners then he could be a millionaire by now!!!

M

caseys

MORPH3US wrote:

Anyone remember a year ago (although it doesn't feel like that) watching a programme called Pay Off Your Mortgage in Two Years?

Well its back on this Thursday for 8 weeks and we finally get to see if anyone managed to pay it off.

Cannot wait to see this.

M

I cannot wait to see if we have paid off ours :rotfl:

We were due to be the 2nd Programme in the series but the BBC are juggling it around a bit so we are still unsure when ours is going out despite a press release saying next week Thursday Jan 18th.

Regards

Sean Casey-Poole

p.s their is already a thread on the programme MORPH3US

kez1_2

caseys wrote:

I cannot wait to see if we have paid off ours :rotfl:

We were due to be the 2nd Programme in the series but the BBC are juggling it around a bit so we are still unsure when ours is going out despite a press release saying next week Thursday Jan 18th.

Regards

Sean Casey-Poole

i cant wait to see either!!!

thought the concept of the programme was very inspirational, and okay i am sure most people wouldnt be able to get rid of the mortgage in 2 years but i bet it made alot of people think that even finishing it just a few years earlier would be hugely beneficial!

i have to say that i have only had a mortgage for 3 years and being totally new to it all it never even occured to me that paying it off early/making over payments was even an option!And although we are not at the stage yet where we can start reducing the mortgage term with extra payments , we hope to be in about 12 months time!:D

in the mean time i will keep lurking on this board for inspiration and motivation! and i will be on the sofa with my cuppa ready to watch the results of the series!

David_B_2

kez1 wrote:

i cant wait to see either!!!

thought the concept of the programme was very inspirational, and okay i am sure most people wouldnt be able to get rid of the mortgage in 2 years but i bet it made alot of people think that even finishing it just a few years earlier would be hugely beneficial!

Here here, that's why I watched the programme. My wife and I have no chance of doing it in two years but it gave us some ideals and inspiration.

Realistically paying your mortgage off is not like a outstanding credit card balance or loan that you could pay off in a few months if you really knuckled down. It's a long drawn process that needs commitment for many years some time.

We started this time last year and we are still going strong and watching this again will give us another lift and maybe more ideals.

culpepper

Im interested to see the updates too.We watched most of the first series but thought the motivator was a bit pushy and unrealistic. I really hope some of the participants have managed it as some were very dedicated and deserved to be successful . I especially liked the stoves idea.

pollyanna24

This is something I think I will put a reminder on me telly for!

We never watched the original series, do you think it is necessary to get the gist?

Overpaying is something I have tried to keep telling (okay nagging) bf is something we should do. He agrees (somewhat reluctantly) and I wouldn't mind showing him what we might be capable of. As you can see from my sig, we are miles away from paying off our mortgage, but the little bit we do overpay sure helps!

Idiophreak

Was I the only one who thought it was a bit pants really?

Each time around he said the same things:
1) Spend less. That includes quitting *any* social life you may have liked.
2) Earn more. Get another job, give up all of your spare time, don't see your friends, don't spend quality time with your partner.
3) Live, eat, drink and sleep money. Think about nothing else. For the next two years of your life MONEY IS YOUR LIFE.

I just think it made the 2 year goal seem quite unhealthy and unrealistic for most people. Oh, to say nothing of the fact that some people on the show earnt pretty well and had really tiny mortgages.

christineperseus

No-one actually made any capital redemptions - thus making the interest payments lower - or shortened the term to take advantage of the low interest rates around at the time.

Sallys_Savings

I've just sat and watched the clip of the couple in cornwall.....I certainly hope they have achieved what they wanted to.

What a lovely talented couple they are