'We are proud, there was no inheritance or secret lottery win. It was done through hard work and saving.' 💰🏡
Siobhan and Lee have paid off their mortgage entirely, and are now loving their financial freedom In their thirties, they already own their home, having paid off their mortgage 28 years early.The couple, from Great Wyrley, managed this by making careful overpayments, sticking to a budget, and skipping the latest tech so they could prioritise being mortgage-free by the time they were 40.Siobhan said: ‘We struggled at university to earn enough to cover the bills and stay afloat.
‘We could have borrowed up to £190,000 but we chose not to max ourselves out. We wanted to ensure our mortgage repayments and essential bills would be affordable on one wage.The couple paid off their £95,620 mortgage a full 28 years early The mortgage started at £394 and the couple paid an additional £160 per month.
‘We achieved a good balance. We didn’t go without but we didn’t try to keep up with the Jones’s either, Lee drove a 12-year-old Volvo that had done 200,000 miles on a petrol engine, it never broke down. Two years after buying, they re-mortgaged owing £89,210 – but thanks to renovations their home was valued at £145,000 and the loan to value ratio was reduced to 60%, giving them access to the best deals.
By September 2018, they owed just £20,480, with a term of 28 years remaining and their standard repayment was just £89 per month.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Girl, 17, who pushed bear off wall to save her pet dogs shares her injuriesHailey Morinico suffered a sprained finger and a scraped knee after running outside her home, pushing the animal away and going back indoors with her pooches
Læs mere »
Mum's genius 'wiggle butt' hack for burping your baby works in secondsA mum took to TikTok to share the genius technique she discovered on YouTube which makes burping babies super easy - she calls it 'the wiggle butt' and parents are loving it
Læs mere »
MadeForMums Pregnancy and Birth Clubs ForumsPregnant? Congrats! Share symptoms, scans, sighs and support with others due the same time at you in our Pregnancy and Birth Clubs forums. They're so friendly!: pregnant pregnancy
Læs mere »
How to get 30 days off work in 2022 (using just 10 days of annual leave)How to get 30 days off work next year (using just 10 days of annual leave) holiday vacation bankholiday 2022
Læs mere »
Tokyo or bust? With 50 days to go, Olympics hang in the balance | Kieran PenderThe IOC is rolling the dice in a high-stakes game, but it remains possible that the bet will pay off
Læs mere »
Mum shares hack for applying sunscreen to kids who hate it & it's 'genius'WITH the weather heating up, sunscreen is a must – but getting your kids to put on their SPF can be a real chore. Here to save all your sunscreen-related parenting problems, one mum has revea…
Læs mere »