Mortgage, DMP and Looming Retirement

tigergambit

kimwp said:

I think once a mortgage is small (under £40k), then it's unlikely that you can shop around and get a deal with other providers, but you should be able to fix with your current provider.

Yes, on reflection I think I may have the wrong end of the stick here. I will speak to my provider. Thanks.

fatbelly said:

Thinking about what you've been saying, a decent redundancy package, some time in the next few years, could be just what you need....

Haha.Yes. Unfortunately in that sense I have only been a CS for 7 years. Best job I've ever had - interesting, very little pressure, great conditions and only 37 hours a week. There's just no way younger me would have been able to keep my mouth shut about all the waste and poor management though, so probably just as well I didn't join earlier!

I'd miss it and I think it's highly unlikely but you're right. I'll stop worrying about that.

kimwp

If I was in debt, I'd be optimising the air BnB stream of income - what are the costs involved?

tigergambit

kimwp said:

I think once a mortgage is small (under £40k), then it's unlikely that you can shop around and get a deal with other providers, but you should be able to fix with your current provider.

YES, thank you so much for that! I have spoken to my lender who confirmed that I can re-fix if I owe more than £10k. (Whether that's worthwhile will depend on charges, but it's very reassuring).

Thank you for your very supportive comments. It looks like my initial post is a strategy which will hold up. Once retired we won't be in a position to be able to pay much so the creditors can wait until we die and claim off our estate. All that time inflation will be eating away at the value of the debt and as we are never going to go down the credit road again that's just dandy!

AirBnB does work well if you have the right home in the right area. We have a very minimal lifestyle (no clutter at all) and can lock off our bedroom so we don't find it a hardship. We aren't sentimental about posessions so are relaxed about "strangers" staying. Not for everyone, I know, and it's a mindset, but tbh everyone who has stayed with us has left the place spotless. It's great to have a weekend away knowing someone else has paid!