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UEL student makes national headlines for financial self-discipline

east london and thames river

Orall Cornelius paid off mortgage in under a decade - and is now doing a master's in psychology 

By Lee Pinkerton

A student at the University of East London (UEL) has hit the headlines after managing to pay off his mortgage in less than ten years.

Orall Cornelius, 46, and his wife Carla, 43, bought their three-bedroom, semi-detached home in Walthamstow, east London, in 2006 for £233,000 with the help of a £210,000 mortgage.

By regularly overpaying their loan by up to £3,000 a month, they managed to save themselves £180,000 in interest and owned their home outright in just under a decade. 

Their tracker mortgage meant they were able to make repayments at any time, not just at the end of the month, which reduced the time frame. 
 
Now the couple’s efforts in frugality have led to them being featured in the pages of the Daily Mail and on Channel 4's series, How to Be Mortgage Free

And because they are no longer in debt, Orall has been able to indulge his passion by studying for a master’s degree in Psychology at UEL.

Orall explains just how he and his wife managed to pull off such a feat of financial discipline in a self-published book entitled, Murder Your Mortgage in Seven Years.

The couple, who have two school-age children, saved every penny they earned and were ultra-diligent about cutting costs – switching off lights as soon as they left a room, buying supermarket own-brand products and even weighing out every ounce of their food. 

“I don’t like to overpay for anything and the financial crash in 2000 created a lot of uncertainty,” says Orall. “I just wanted financial security and had other things that I wanted to do with my life.” 

One of the other things that Orall wanted to do was return to university to pursue his life-long interest in psychology.

Murder Your Mortgage in Seven Years is available now from Amazon.