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Paying down your mortgage without paying down your mortgage
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MBA MBA
Posted: 07 January 2025 14:05:03(UTC)
#21

Joined: 16/12/2012(UTC)
Posts: 1,725
Tug Boat;330233 wrote:
In 2001 Mrs. Boat decided she wanted to move house. I sold all my investments.

I got a mortgage with Intelligent Finance for £73k - sounds tiny. IF would let you overpay and pay off lumps with no penalty.

In 2002 I invested the cash left over into Fidelity Sp Sits. It went bonkers. I also invested by yearly bonus and added monthly contributions.

From 2004 to 2007 I paid off chunks until I had no mortgage and my only investment left was a bond fund.

Then all hell broke loose in 2008. My bond fund went from 23p to 32p. Sold it, and in 2009 was left with no mortgage and a pile of cash.

Would I do it that way again? Only if I can get a policy with a shaman who could guarantee my good luck, as there was no skill on my part.


re 'bond fund' i presume you mean a govt bond fund, right? I did something similar but reinvested into global index tracker (literally doing the transactions on my phone at a work meeting)
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MBA MBA
Posted: 07 January 2025 14:07:13(UTC)
#22

Joined: 16/12/2012(UTC)
Posts: 1,725
well over the last few weeks ive started to sell down my LS60 funds and buy gilts at 1-5 year duration in ISA and GIA. meanwhile will also sell down LS60 holding in SIPPs and buy global index tracker.

the plan is to build up 50% of v large outstanding mortgage in gilts and everything in SIPPs to be in equities as I cannot access that for another 8-9 years anyway (come Trump, work your magic on the S&P500 for another few years)
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