This article discusses Mortgage Freedom Day in the UK. Mortgage Freedom day, which will fall on April 19th, in Halifax means that homeowners will have finally earned enough to pay off the annual cost of their mortgage. This is assuming they put all of their earnings for the year toward mortgage costs. This is also assuming that the borrower put at least a 30% down payment initially. Because house prices vary throughout the UK, this day will fall on different dates throughout the region.

Key Takeaways:

• Halifax predicts that April 19th will be the day that homeowners in the UK will have earned enough to pay their mortgages off.
• ‘mortgage freedom day’ is calculated by assuming that homeowner borrows are using all of their earnings towards home mortgages.
• The calculation predicts that the south will take longer to reach ‘mortgage freedom day’.

“Wednesday has been identified as “mortgage freedom day” – when home owners will have earned enough to cover the annual cost of their mortgage.”

Read more: https://www.aol.co.uk/money/2017/04/18/april-19-identified-as-mortgage-freedom-day-for-uk-home-owners/