All Things Personal Finance

[Witness1970]

On 12/22/2025 at 8:39 AM, Mike047 said:

One of the problems of keeping a mortgage, is the varying rates being charged. In these days of uncertainty, I would choose to repay if  could.

I would only have a fixed rate mortgage.  The adjustable-rate mortgages can get you in trouble in later years if the rate increases.  With a low fixed-rate mortgage, it would be better to invest the money in an index fund and let it grow.  Eventually you would have a paid off house and a large amount of money invested.  If you are barely able to pay your mortgage, there would not be much left to invest.

[Mike047]

Assuming you could get such a mortgage that would be affordable currently

 

[Witness1970]

1 hour ago, Mike047 said:

Assuming you could get such a mortgage that would be affordable currently

 

I was thinking of someone who already had a mortgage from years ago which was a fixed rate mortgage.  Currently the mortgage rates very high with no hope of them going any lower in the near future.

[Mike047]

And that is the problem for those looking for starter homes. People want to buy in the UK if they can, but as this weeks Watchtower points out, distractions can lake away from spiritual life, and fewer things take more time that the house-buying process.