The Secret To Becoming Mortgage Free and Saving Thousands Of Pounds! | This Morning

With interest rates reaching their highest in decades, the last few years have been especially hard for anyone with a mortgage. The dream of paying it off, and living mortgage free, is certainly alive - but research shows that more than one third of Brits think that's impossible before they retire. That's what Ken and Mary Okaroafor used to think too - until they uncovered the tricks that helped them clear their £380,000 debt in just 7 years. Now, the husband and wife consumer duo want to share how it's done - and more financial advice for families. They join us today with their book, and some unmissable tips.

Broadcast on 02/04/2024

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[wordmusicpicture]

Well done Ken and Mary! Super proud of you guys! 🎉🎉😊🙌🏾

[TheHumblePenny]

Thank you for having us on the show :)

[BigNate]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[fifinaz]

My husband's and I paid our mortgage off within three years! U have to live within your means n don't buy a ridiculously expensive house. We cdve got one that was much more and been approved but we didn't!

[david]

As if Alison and Dermot have mortgages!

[ONEOFAKINDSISTAH]

Great to see this lovely couple sharing their experience and knowledge on national TV. ❤ their channel here on YouTube.

[jimbojimbo]

Wild to see Humble Penny on day time TV now, I remember when they had 2k subs on YT 😂

[stevep]

Well done you two. The problem is most people would spend the £1000 a month on a big car. I paid my mortgage off on my 50th Birthday. I thought that was good going. I put money in interest free ISA, s. £240 a month for for twenty years. It turned into about £85, 000. I also retired from the military that got me £47, 000 8 years before that. But the brilliant investment was the ISA.

[luongtime]

Just managed to pay off my student loan and was elated, can't wait to pay off the mortgage.

[emmab]

Our mortgage was paid off in Feb we are 46&48 but our house was cheap and mortgage payment really low

[empressnannah]

Well done to finish paying your mortgage early.

[richfrommitch]

Years ago we paid a 12k chunk off of our mortgage and aside from the time saved, it also saved us the same amount in interest. That was the thing. Not the time, the interest saved.

[joshuabensusan]

Good story, love this sort of information! It would be good to actually know how they enabled themselves to overpay on their mortgage. Ken mentioned you must have a plan, it would have been good to see a bit more of the plan (appriciate its in the book) not just 'dont buy designer handbags' for example.

[CatsandJP]

As any CPA will tell you…never let your outgoings be more than your incomings….you can be asset rich but cash poor….you have to want to work to earn money..

[slw_racer]

Its still better long term to first focus on wealth building by utilizing the tax breaks you get and employer contributions on a personal persion, then an ISA then over pay the mortgage this is our plan right now.

[jonathanpike]

I’n Australia you can pay mortgage off weekly, have an off set account, against Morgage live off credit card pay card off before monthly bill with money in off set account I asked about this here in Uk 30 years ago and they said yes can pay mortgage off weekly but we make repayment s monthly, Big Banks have had it sewn up here

[xf]

Amazing such motivation for people who are not thinking about this

[Colbe-lxfb]

It's incredible how much money you can save by paying off your mortgage early. I've been considering ways to accelerate our mortgage payments to save on interest in the long run.

[darrenmackenzie]

I'm 40 years old and only got 1 year left until it's paid off
Any advice how to invest for my future?

[mukhtar]

There are other ways to finish off mortgage.
Stay with ur parents.
Save save save and buy it outright from the auction (always cheap at auction)