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Date Of Mortgage Payments
At the moment I pay my mortgage on the 29th of each month.I was told that mortgages should be paid on the 1st of the month as it saves interest. On contacting my lender they said i must pay back to back payments on the 29th of August and then 1st of September then it will revert to the frst of each month. Cant really…
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One account & interest free c/c
Hi guys, I would appreciate your help/advice as I know there is a wealth of experience on this forum. I currently have a £72k mortgage and would really like to make my money work a bit harder to try and reduce it. Have to admit I was always much better at English than Maths, so am just kind of going round in circles at the…
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Advice anyone please
I have a mortgage of £66000 outstanding on a variable rate of 7.0% and pay £775.61 per month to Halifax Bank of Scotland. There is 9yrs 9months remaining and I want to be mortgage free in 5yrs. I have no early redemtion penalties with this mortgage and my credit score is good. HBoS have only suggested products that allow…
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Mortgage Overpayment Question
Hi guys, I phoned up my mortgage lender to ask for details on how to make overpayments. I was told that the type of mortgage I have would incur a penalty for any type of overpayment I make. The key facts of my mortgage are below: 10. What happens if you do not want this mortgage any more? Early Repayment Charges. An early…
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overpayment advice please
Hi everyone we will be moving into our first home on friday so my mortgage will be starting soon and i was wondering about overpayments Our mortgage is with bristol and west and we are borrowing 99000 it is interest only with a rate of 6.4% (could be wrong im not sure because im at work and cant remember but it's…
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My Diary
I wanted to post my own story (which is only just beginning) of seeking freedom from the mortgage. My wife and I sold our flat and moved to a great house in August last year. It was so nice, exactly what we wanted, that we stretched ourselves and spent more than we thought we would - ending up with a mortage of 175k. This…
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FTB Help needed
Hi there everyone, Me and my hubby are wanting to buy our own home but are really struggling and could do with some sound advice from you great folk!!! The problem is that my hubby is a non eu national and there fore does not yet have indefinate leave to remain in the uk (he will have in approx 6 weeks). He is here on a 2…
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How do I get started
Hi There, I have been reading alot of the posts on here about being mortgage free. My DH and I have quite a large mortgage (£188,000). We moved to our new house in May 07, and currently have just under 24 years to run. Dh doesnt think it is worth while paying of mortgage, but, should be putting money by in a savings…
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Inspiration perhaps...
Hi all, I've been lurking a long time, even posted my intention/timescale to be mortgage free many moons ago. I thought my story of how I got to my current situation, mortgage 'free', might provide some encouragement, or just amusement. I was on board with the idea of overpaying a mortgage before I took one out, so I chose…
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My SOA...
Statement of Affairs and Personal Balance Sheet ............. Posted to wrong forum...
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Can you help me with a list of essentials?
I am trying to work out my budget for when I start my mortgage. I have chosen a mortgage where you can over pay. Here is what I have got upto now: Council Tax £ 62.22 Mortgage £ 479.73 Insurance £ 42.79 Life Insurance £ 5.00 Utilities £ 120.00 Food / Groceries £ 150.00 TV Licence / Phone £ 46.00 Car Running Costs £ 140.00…
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Advice needed
Hi all, Past few months I fell into Mortgage arrears with Northern Rock. (£2,500) I can now afford to pay monthly mortgage with a little bit extra £50 a month for arrears and told NR who seemed ok. However NR have just served a writ on me (Scotland) and it appears they want to evict me and sell my flat !! Surely they cant…
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Mortgage term advice - Wannabe
My fixed-rate N.Rock 2gether mortgage is up on 1/11/08. Flat value is 75-76k and my o/s balance with N.Rock is 74.5k (61.5 mortgage and 13k unsec loan). I got advice from a surveyor friend today re valuation update. I have meeting with mortgage advisor on Friday and have punched some figures into moneysupermarket site. 95%…
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Overpayment help
Hi all My current fixed deal will end in December (repayment), and I'm allowed to overpay by 10%. I have not made an overpayment before. Can I make this 10% payment in one lump some of £7500? I also plan on making overpayments once the fixed deal ends of £500/month. I do have cash ISAs, but I think I'll keep hold of them.…
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Non-tax payers & attacking the mortgage..
I have been reading a number of threads of late and it has really got me thinking about how best to attack the mortgage going forward. We will soon be fixing for 10 years with offset and the main reason for this was a pretty decent rate 5.49% and the flexibility of it. One of the features is going interest only without any…
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Early mortgage payment advice please
Hi there, Just need some advice for my friend. She has a ten year fixed rate mortgage. She has eight years left on the fixed rate.But then still has another ten years before the mortgage will be payed. Think she took out a 25 year mortgage. Her husband's mum is wanting to pay off the mortgage for them. They owe about…
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Paying inheritance off mortgage
Hi I've been lurking for a while and I'm a MFW. I'd be grateful for a few thoughts/ideas.... My partner and I are 28 and 29 and are due to receive upto £20,000 inheritance in the next few months. We would like to reduce our mortgage and ideally try to pay it off by age 40ish. It is currently £95,000 outstanding over 22…
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pay early redemption or not??
Hi all im new to the site and would appreciate any advice on this ..... my fxd rt is up on sept 09(6.29%) at the mo it's got £59000 with nationwide who allow u to overpay £500 a mth(inc £490 my original payment) which ive been doing for a yr now with the way the markets going im tempted to buy myself out of this deal now…
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Tax back on professional membership?
I know this is a really stupid question but for a teacher does this mean the GTC (general teaching council?) and not your union?
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Paying inheritance off mortgage
posted above