As mentioned earlier, for many people, paying off their mortgage has less to do with numbers and figures and more to do with how well they sleep at night.
However, there may be other ways to get that peace of mind without tying up your assets in a house.
If you’re great at saving money, one of the best ways to do this is to take three to five years of mortgage payments and put them in a separate account.
Then directly debit your mortgage payment from it.
You’ll now have the security of knowing your payment is set for at least a few years.
That being said, I understand that for many it’s not as simple as overpaying where possible… and that saving for the vast majority is a pipedream.
Even if we snap up a property at the average age of 34, and take out a 25-year mortgage, it only takes a little bit of life to get in the way and leave us repaying well into retirement.