Ep 5. Episode 5

Sarah Beeny is a renowned property developer who understands the struggles of managing a mortgage. In this season of How to Live Mortgage Free with Sarah Beeny, Sarah aims to educate struggling homeowners on how to minimize their expenses and live mortgage-free. In episode 5, Sarah meets Emma and James, who live in a lovely Victorian house in Manchester.

Emma and James are retired but are still paying off a £233,000 mortgage. Sarah is astounded by the amount of money they are spending on their mortgage and utility bills, and she immediately sets out to identify areas where they can cut costs. Sarah advises Emma and James to take advantage of the unused space in their home and rent it out to long-term guests. This could help them add to their income and reduce the burden of mortgage payments.

Sarah also recommends that they make some changes to their utility usage. She suggests that they could change their energy provider and install a smart meter in their home. This will help Emma and James track their usage and make significant savings on their monthly bills.

In addition to these changes, Sarah suggests that Emma and James take advantage of government schemes. There are several programs available that can help homeowners reduce their mortgage payments, including shared ownership and Help to Buy. Sarah helps the couple understand these programs and shows them how they could be eligible to benefit from them.

Emma and James are overwhelmed by Sarah's recommendations, but they are willing to make the necessary changes to live mortgage-free. With Sarah's help, they have realized that there are many ways to cut costs, and they are excited about the prospect of living in a mortgage-free home.

At the end of the episode, Sarah checks in with Emma and James to see how they are getting on. She is pleased to discover that they are making great progress in reducing their expenses and that they have already started renting out one of their rooms. Emma and James are delighted with the extra income, and they are confident that they will soon be able to pay off their mortgage and live mortgage-free.

In conclusion, episode 5 of How to Live Mortgage Free with Sarah Beeny is an eye-opening episode that showcases the many ways homeowners can reduce their expenses and live a comfortable life without a mortgage. Sarah, with her vast experience in the property development industry, is a valuable resource for homeowners, and her advice in this episode could help many people reduce their financial burdens and improve their quality of life.