Even though their mortgage rate is low, they want to pay it off early so they can retire without the monthly expense.

There are other ways to pay off a mortgage early, so talk to a financial advisor if you’re unsure which is right for you. That partly depends on the interest rate — but on a 30-year mortgage ...

Wealth management expert Charles Incledon, from Bowmore Wealth, says that paying off your mortgage early then finding you haven’t got enough money to live on is a particular problem if you are ...

Freeing equity in your home as a way of paying off your mortgage early is becoming an increasingly popular strategy for homeowners aged 55 and over to boost their retirement income. You should ...

Paying off a mortgage early has pros and cons, so consider your other financial goals before making the decision. Paying off your mortgage is a major milestone: You own your home free and clear.

If you have a mortgage and cash to spare, you've probably considered paying off your loan early. To be unencumbered by debt feels good, but paying down a mortgage years before you need to may not ...

Early repayment charges should always be considered if you want to overpay on your mortgage, pay it off entirely, or switch to a new mortgage deal before your current one ends. Read on to find out ...

Leaving a fixed deal early will usually come with an early ... cash in a savings account and then use the proceeds to pay off your mortgage. If your mortgage rate is higher than your savings ...

Switching to a better deal may also pay off even if you have more than six ... Calculating the cost First, calculate the cost of repaying your mortgage early. Rather than a flat rate fee, the ...

Consider paying off the debt with the highest interest ... they could use part of that money to help pay down the mortgage early so that once they go into retirement, they do not have that extra ...