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Originally Posted by aafc01
4. To *really* save money, remortgage down to 4+%, interest being charged is cut by a factor of 4.
5. Yes you are paying for it over the length of the mortgage, but you WERE DOING THAT ALREADY....
6. The really *SMART* thing to do, is not to take all the savings, leave some of it on the table and pay the entire mortgage off early....
..and yes, it is my job.
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However you don't point out that there are two important assumptions in the above scenario:
1) That you *own* property that you can mortgage and
2) That you're willing to take the risk of losing that property if you can't make the payments.
I'm not saying it's a bad thing, but these things *do* need to be considered.