Pay Off Your Mortgage in Two Years


Pay Off Your Mortgage in Two Years

Pay Off Your Mortgage in Two Years is a television programme first aired on BBC2 in Early 2006. Its follow-up series Did They Pay Off Their Mortgage in Two Years? began airing in January 2007.

Presented by business expert René Carayol, the programme is an experiment that aims to find out if ordinary people in the United Kingdom can pay off their mortgage in two years. Various methods of mortgage acceleration are explained to help viewers succeed in paying off their mortgages early.

Pay Off Your Mortgage In Two Years (first series)

Each of the eight episodes aired weekly in 2006 focused on one family or individual, who at the time of filming had already been followed for twelve months, i.e. they were halfway through the experiment. In the follow-up series, aired in 2007, their experiences in the second year was shown. The participants were from all ages and from all walks of life, including a couple nearing retirement, families with young children, a lesbian couple and a male ballet dancer.

Success in the experiment required minimizing expenses as well as maximizing income. To achieve the former, participants grew their own food, for example. In pursuit of the latter, they sold off possessions, rented out their house or tried to develop various business initiatives, such as creating works of art, giving yoga or exercise classes, becoming a Cliff Richard impersonator or buy and renovate houses. In some cases, leaving the "comfort zone" and persevering required hard-nosed presenter Carayol to, in his own words, "push them to their limits". One of the participants, a single woman, gave up and was replaced.

Did They Pay Off Their Mortgage In Two Years? (second series)

The second series of weekly programmes began on January 11, 2007. The six episodes followed the trials and tribulations of all those that agreed to initially take part. Two of the couples paid off their mortgage, including Dan & Lucy with their successful Hotpod burners - the prototype of which Carayol originally found in Dan and Lucys livingroom and subsequently helped turn into a thriving business.

With the series attracting praise from the media and the focus shifting more from mortgages to that of the transformations in all the contestants lives, the series was moved from a 7.30pm time slot on BBC2 to a prime time airing of 8pm.

External links

The Hotpod woodburners homepage


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Mortgage acceleration — is a term given to the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement. As interest on mortgages is compounded, early payments diminish the period needed to pay off the mortgage, and avoid a quotient …   Wikipedia

  • Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …   Wikipedia

  • Your Black Muslim Bakery — Infobox Company name = Your Black Muslim Bakery type = Private (defunct) foundation = 1968 in Santa Barbara, California location city = since 1971 in Oakland, California location country = United States location = 5832 San Pablo Avenue locations …   Wikipedia

  • Mortgage Investment Corporation — A Mortgage Investment Corporation or MIC is an investment and lending company designed specifically for mortgage lending (primarily residential mortgage lending) in Canada. Owning shares in a Mortgage Investment Corporation (MIC) enables you to… …   Wikipedia

  • Reverse mortgage — A reverse mortgage (known as lifetime mortgage in the United Kingdom) is a loan available to seniors (62 and older in the United States), and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner s …   Wikipedia

  • Adjustable-rate mortgage — A variable rate mortgage, adjustable rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit… …   Wikipedia

  • René Carayol — (born September 10th 1958) is a broadcaster, broadsheet columnist, business and leadership speaker and author. He recently presented the BBC series Did They Pay Off Their Mortgage in Two Years? . Background Career Born in Gambia, the son of a… …   Wikipedia

  • Belle Gunness — Infobox Serial Killer name=Belle Gunness caption=Belle Gunness with her children Lucy and Myrtle Sorenson, and Phillip Gunness birthname=Brynhild Paulsdatter Størseth alias= birth=November 11 1859 location=Selbu, Norway death= April 28, 1908 ?… …   Wikipedia

  • Future of newspapers — Newspapers: a global industry in transition The future of newspapers has been widely debated as the industry has faced down soaring newsprint prices, slumping ad sales, the loss of much classified advertising and precipitous drops in circulation …   Wikipedia

  • The Cherry Orchard — (Вишнëвый сад or Vishniovy sad in Russian) is Russian playwright Anton Chekhov s last play. It premiered at the Moscow Art Theatre 17 January 1904 in a production directed by Constantin Stanislavski. Chekhov intended this play as a comedy and it… …   Wikipedia


We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.