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Hiw to live mortgage free. Anyone watching?

(54 Posts)
NapQueen Wed 19-Apr-17 20:04:35

Im sceptical. Surely this is all people who have made masses of equity on moving out if London or inheritances?

mizu Wed 19-Apr-17 21:07:47

Watched a bit. Facing the fact I may never own. Think it's probably for people who've got money already.

PossumInAPearTree Wed 19-Apr-17 21:36:32

Well that first woman saved money from having started a car boot business at 16yo. She spent 70k so had saved 10k a year since she was 16yo which is doable especially as I guess she lived at home most of that time.

The boat woman's boat cost her 18k to buy and then a bit more for the work. But not horrendous amounts.

I love the idea of living on a boat.

Boswellox Wed 19-Apr-17 21:48:22

I hear you. I didn't watch or record it, but my interest was definitely piqued by the preview shots. Looked idyllic..

spiderbabymum Wed 19-Apr-17 21:55:48

I find it all really inspiring

purplehonesty Wed 19-Apr-17 22:12:17

I've been googling mortgage overpayment calculators since I watched it!
Would love to pay ours off sooner so dh can retire earlier

purplehonesty Wed 19-Apr-17 22:13:03

I don't fancy moving into a boat with two kids but I reckon if we overpaid by £150 a month we could take about 4 years and heaps of interest off

NapQueen Wed 19-Apr-17 22:14:26

I wonder how much can be over paid each month?

AnyFucker Wed 19-Apr-17 22:14:38

Is this news to anyone that if you overpay your mortgage you can take years off it ? confused

BumWad Wed 19-Apr-17 22:16:23

Haha AF.

Yes where have you all been?

Get overpaying!

we are still years off

NapQueen Wed 19-Apr-17 22:17:40

No but that wasnt the only suggestion on the show grin

AnyFucker Wed 19-Apr-17 22:18:35

Those boats looked like a living nightmare

purplehonesty Wed 19-Apr-17 22:19:20

I think you can overpay up to 10% of outstanding balance each year

Depending on the type of mortgage you have

AF I did know about it but it just made me think now could be the time to start.

Just like I know going to the gym makes you slim but I still don't go....

GreenGinger2 Wed 19-Apr-17 22:20:01

Bet that boat is cold in the winter. No curtains either.

purplehonesty Wed 19-Apr-17 22:20:08

I loved that reservoir house

It was beautiful inside!

AnyFucker Wed 19-Apr-17 22:20:13

Heh

purplehonesty Wed 19-Apr-17 22:20:44

Boat would be fine for single living (with curtains)

Not for family life tho is it

PunjanaTea Wed 19-Apr-17 22:25:21

I think there are families that live on boats just not ones that size.

I suppose if you bought one whilst single and saved the money not spent on rent you could move to dry land.

I think the key message is that there are things you can do to save money on housing but they won't necessarily be the things that you want to do.

millifiori Wed 19-Apr-17 22:26:01

That woman who built her own house from car boot money was incredible. But the ones that most impressed me were the ordinary family who just found loads of cheap ways to have fun, knocked £££ off their mortgage then immediately spent the savings on trips to New York and more fun. Inspired.

millifiori Wed 19-Apr-17 22:27:18

I wasn't that keen on the boat. The woman seemed a bit of a lost soul and the interior was really junk-yardy. Not to my taste. Loved how obviously the architect had a crush on her though.

Mum2jenny Wed 19-Apr-17 22:27:21

Recorded it to watch later, is it any good?

AnyFucker Wed 19-Apr-17 22:29:08

No

And the presenter still dresses like a macho lumberjack.

PianoThirty Wed 19-Apr-17 22:32:36

The boat one was a bit silly, they didn't mention mooring fees (or did I just miss that bit?) In some parts of London you can pay over a grand a month for a mooring. Also, when the time comes to upsize, boats can be slow to sell.

It's a perfectly reasonable way of life for the kind of people who are cut out for it, but it's certainly not a shortcut to property heaven.

NapQueen Wed 19-Apr-17 22:40:29

She didnt moor. She had a cruising licence, so has to move every 2 weeks.

IrregularCommentary Wed 19-Apr-17 23:01:33

I don't get the living on a cramped boat thing. It looks bloody awful.

I'd rather just have to pay the mortgage for longer tbh.

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