New When NOT TO PAY OFF Your Mortgage Early

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SHOULD YOU PAY OFF YOUR MORTGAGE EARLY? I became Mortgage Free in 7 years and today I’m sharing 8 Tips for When NOT To Pay Off Your Mortgage Early. Download our Free Mortgage Overpayment Calculator here ✅


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★★ ABOUT US ★★


I’m married to Ken and we have two boys aged 6 and 4. I’m a Londoner, born in Hackney! 🙂

Day to day, I run the operations of The Humble Penny as a creative – doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.

When I’m not creating, I love vegan food, travelling, working out, and doing some outdoor fun things with my husband and kids 🙂


I’m a husband, dad, and a First-Generation Immigrant to the UK. I started life poor in the UK and I’ve spent the last 20 years on a steep journey of Personal Development.

Former CFO with over 12 years of experience in the investment business. I’m also a Chartered Accountant and hold an MBA from Cambridge University.

To explore my creativity, I’m a blogger and YouTuber by night. I create from my experiences as a family man and entrepreneur.

I have a passion for all things Financial Education, Business, and Personal Development. I also love Photography, Music, Travel, and Sport.

We became Financially Independent aged 34 and our story has been featured on the BBC, Mail Online, Channel 5, Metro, etc.

We share content to inspire and teach others how to achieve Financial Independence and Freedom too 🙂


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0:00 – Intro
1:20 – If The Return You Can Get Elsewhere Far Exceeds The Guaranteed Risk Free Return + Priceless Mental Freedom
3:54 – If it’s Not Your Forever Home
5:06 – If It Will Affect Your Hunger & Motivation To Keep Building Wealth
6:37 – If You Don’t Have A Diversified Net Worth
8:25 – If The Penalty Far Outweighs The Benefits
9:34 – If You Have Other More Expensive Debts
10:07 – If It’s an Investment Property
11:00 – If You Don’t Have A Sufficient Emergency Fund
12:07 – Question for the comments

★★ About this video ★★


Massive thanks for watching and following our channel 🙂 ♥

Best, Mary and Ken Okoroafor

NOTE: For FULL Transparency, some links above may be Affiliate Links. We do NOT offer Financial Advice. Your investments can go up as well as down. Past performance does not guarantee future returns. So please do your own research before investing.

#payoffmortgage #mortgagefree #financialindependence


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  1. Becoming mortgage-free has been the BEST financial decision that we've ever made personally partly because of the alternative life that it has created. Nothing compares to it and it's hard to articulate it properly. Where do you stand? Comment below 😀

  2. Great video mate.

    So many FI YouTubers obsess about paying the mortgage off.

    Me, I will only pay the mortgage off when the lender will not extend the term any longer. So long as interest rates remain so low, I’m happy buying more property rather than pay off my mortgage.

    If you ‘feel’ better with no mortgage, then all the logic and maths in the world won’t convince you otherwise. Emotions will trump logic every time

  3. This is really useful. I extended my mortgage term to reduce my outgoings since it was not my permanent home. The extra £200/month is now being invested and the return is 25% while my mortgage rate is 1.4%.

  4. I did not pay off my mortgage as I was concerned I would not be motivated and focused in further investment. I really wanted to be mortgage free as it’s priceless however I recognised it was not the best long term investment decision. Instead I used my cash to buy an investment property. I did not believe in the future I would have a notable cash sum saved up as a big down payment (30%) to buy a second property so it was a unique opportunity.

    I occasional overpay the mortgage on my main home without penalty and still aim to pay it off early. My decision to use my cash for other investment has helped me expand my portfolio and helped me work harder to invest in equity and my pension as part of the journey of greater diversification.

  5. I'm paying off my mortgage but have already been thinking about lowering my extra payments and put more into my ISA. The % example of comparing mortgage rate and investment return was really useful to give a perspective on this decision, so THANKS!

  6. Good video. One aspect that wasn't considered was the rate of inflation. The way I see it, inflation erodes debt. If you take a £300k mortgage and say have £200k outstanding after 10 years of payments you might think that's a lot left. But £200k today is not the same as £200k in 10 years where it is essentially less debt due to inflation.
    I'm not mentioning this to talk anyone out of overpaying. I think the video made a really interesting point about the mental side and freedom. I'm just saying it's that it should be considered, since most people will pay off a mortgage over a long enough period that inflation is a factor.
    If hyper inflation occurred as well then the equation definitely changes.

  7. Hi, im thinking about paying off the mortgage early but also this may not be our forever home. Off topic..but can anyone advise on what to do if when i come to remortgage in 2 years my partner and I maybe down to one income due to maternity leave or i may just quit working to raise children. Is it hard to remortgage based on one income? Im already worrying about the future :/ thank you in advance

  8. I am struggling with it – mortgage is only 1.49% but it is not our forever home. Focusing more on investing in index funds £500 pcm but still can’t resist overpaying the mortgage by £100 pcm. Having no other debt does really help. Thanks for the vid Sue 😀😀😀

  9. I was lucky to get one of the older fully flexible mortgages with a low rate, borrow back features, portable etc. I’ve cleared it all down to the minimum amount possible, therefore paying the lowest payment. This gives me the freedom to have funds for, moving house if I choose to, low loan rate eg home improvements, I have no need to pay the admin fee for closing the loan.

    However more importantly the bank is looking after the title deeds safely which in itself can add up to quite a bit!!!

    I know I could drawdown the loan and invest and probably get a higher return but I prefer not to have debt & payments to deal with.

    Besides I now salary sacrifice the highest % I can go to and therefore put the most I can per month into my pension. This means I pay less income tax and my employer gives me 1/2 the national insurance saved as an additional benefit to my pension giving even more free money! I calculate just under 34% of my salary (inc company contributions) now goes towards my future and the net difference is surprisingly low and in reality I’ve got used to living with a lower net income.

    Gotta play the system!!

  10. I’m not in my ‘forever home’ but still I am making overpayments to repay my current property early.
    The way I see it is when I sell my property and buy my forever home, I will be transferring the equity, so essentially paying off my forever home earlier. Thoughts?

  11. Thanks Ken this is very informative, I am personally paying off my mortgage and also investing, this will give me extra resources to wipe out my mortgage should I wish. Thanks for sharing knowledge.

  12. I just released a video on basically exactly that! Not paying off your mortgage! I’m on the investment side of the fence!
    So many good points here. Nice one Ken. 😀

  13. Hi i have a £5500 early repayment fee on the mortgage, when im due to re-mortgage could i then change this to 0 repayment fee?

  14. Thanks for the video. I am on the side of paying off my mortgage early.

  15. Really enjoying your videos. I'm looking at passive income at the moment. I'm a foster carer. The children I cared for have moved on so looking for something that doesn't take me away from children we have next. It's been a really difficult time at the moment for a few personal reasons but your videos are giving me hope. Wishing you all the success.