We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
When Is The Best Time?
Legacy_user
Posts: 0 Newbie
Like everyone else here, I would love to be mortgage free. However, when is the best time to try and do this? I currently live in a one-bedroom flat and have no intention of living here for life. I would love to get a house at some point, when I can afford it. 
I am 31 and live with my OH - who has a mortgage on his own place which is being rented out. Should I try and save towards paying off the mortgage a bit now, or wait, as we'll probably need it to get somewhere bigger.
Both of us being self employed, we know it'll be extremely hard to get another mortgage in the future, so it's all a matter of what to do for the best
I am 31 and live with my OH - who has a mortgage on his own place which is being rented out. Should I try and save towards paying off the mortgage a bit now, or wait, as we'll probably need it to get somewhere bigger.
Both of us being self employed, we know it'll be extremely hard to get another mortgage in the future, so it's all a matter of what to do for the best
0
Comments
-
It's never to early to start saving in my opinion! Even if you don't pay off the mortgage on your Flat at least you'll have a nicer deposit to put towards your 'forever' home.GOAL:- £450k in Savings by March 2028 SAVINGS: – £400,520 COMPLETE GOALS - Debt Free, Mortgage Free, £400k Savings Save 12k in 2026 #21 = £7567 / £25,0000
-
Makes little diffeerence as you are planning to borrow more anyway the more you save overpay the less you have to borrow in the furture.
The key thing will be do you plan to keep the place as another rental, you may want to plan around that.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards