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Well, in 2011 we returned to UK with £200k in the bank and nice plans to be mortgage free. Unfortunately my work is in Hampshire and we quickly realised this was a pipe dream if we wanted a reasonable house in a nice area near a nice school for our two little ones (aged 3 and 5). So here I am, aged 42 with £100,000 mortgage in France on an apartment worth £200,000 and £300,000 mortgage on our home in the UK which is worth £500,000. Whopping mortgages I know but the interest rate on the French one is 1.7% and on the UK one its base rate plus 0.85%, so 1.35% currently. French mortgage will be paid off in 10 years, UK in 18 years when I'm 60. A lifetime of debt slavery awaits!! Might make overpayments but I get 40% tax relief on pension overpayments so currently it seems mad to overpay these low rate mortgages.
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