We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgage-free wannabe

Archives for March 2006

Mortgage repayments, Excel spreadsheet
Early in March I downloaded an Excel spreadsheet from MSE. A couple of weeks ago my hard drive packed up and I lost it. I've been searching on here for two hours and can't find it! I've searched on mortgage amortization as that was the term that was used, no luck. Would someone point it out for me please? Thank you.
USA FED Raise interest rate 0.25% - Impact to us?
Evening all, As the title says, the USA FED reserve have raised interest rates again. http://news.bbc.co.uk/1/hi/business/4855118.stm Whats the expected impact on the UK ?
What's the highest anyone can forsee interest rates reaching in the next 20 years?
What's the highest anyone can forsee interest rates reaching in the next 20 years. I am going to take out a mortgage and wanted to see the worst case senario.
Is there a better way?
Hi everyone Thinking of remortgaging in order to repay my mortgage early and am looking for advice. I currently have an offset mortgage with First Direct at 5.7% but have no savings. I have been looking at the figures this morning as follows: Value of property: £155,000 Current mortgage: £134,500 Repayments Interest:…
advice please
hi everybody this is my first post much appreciated if you could explain how mortgage overpayments work If i save £100 a month in the overpayment account when it gets to say a £1000 would it be worth paying this off my mortgage and then repeating this every so often. I do not intend to use the overpayment account to draw…
Overpayment question
Am I right in saying that if I have any spare cash and my mortgage allows overpayments and drawbacks without penalty that I might as well allways overpay as much as poss and then draw it back whenever I need it as I would always be saving the max interest that way?
Mortgage or ISA???
mortgage free please Help! Do i save or do i get rid of the mortgage? Mortgage tracker due to finish 4 years 4 months amount still owing £13,000.00 ish no early repayment charges Savings. £20,110.00 in cash ISA £11,500.00 in FTSE 100 tracking ISA we are still quite young 44 and 42 with two children 19 and 16 would like to…
Mortgage piggy on a mission!
Well thanks to aliasjo's thread on the mortgage pig I'm going to keep a log of aiming to be mortgage free. I have one mortgage free property which is more an investment for the future and my kids, its rented out and very stress free so have been lucky there. I took out a 25 year mortgage in 1997, I remortgaged a couple of…
Abbey overpayments
We are completing on our house next week, and so far don't really know how to overpay our abbey mortgage. When we applied the woman muttered something about £500 being the minimum overpayment but that isn't stated anywhere in the mortgage offer. It says if we want to overpay and the money to come off the loan (rather than…
Keep savings or reduce mortgage?
Gday all I have a conumdrum for you. I have about 30k saved, and I should get a hefty pay rise from about November. I could use the 30k savings (in my non-tax paying wifes Egg account earning 4.5% tax-free) to reduce the mortgage amount (4.38% with Nottingham BS), and use the extra money from my expected pay rise to clear…
First thread "Hello" and a little query if you don't mind :)
Hi everyone, what a great community you have here. I've been receiving Martin's Money Tips E-Mail for while now and have visited this forum a few times but this week I have been inspired by "$17mma's Story" on becoming debt free. I've realized I really don't do as much as I can to save myself money. I have a monthly…
0% CC to Pay Off Mortgage - good idea?
Hi - Our fixed rate comes to an end next March (I know it's 12 months away, but would like to get organised!!). Using the snowballing techique our mortgage will be repaid in 4 1/2 years time (from now). What I was wondering was whether it was worth applying for some 0% credit cards and then use the monies to repay our…
Advice Please
Hi - I posted this on mortgages and endowments but nobody has replied so Im not sure If I posted it in the wrong place so Im trying it here to see if I get any advice :) Hello - here I am again on another thread asking for more money saving advice. Ive managed to save money on my electric & gas, bulidings & contents…
Most feeble overpayment?
Paid £2.60 into bank account via Post Office today, then transferred to mortgage. Payoff date still Aug 2017, but saved £4.29 interest:rotfl: Do this at least once a week. Woman in PO v confused!;) I have to do this as I can't find a suitable mortgage pig. Want to pay off early to retire to Spain, but can't find…
Get yourself a 'Mortgage Pig'
I decided a while ago that I really wanted my mortgage paid off. It wasn't very large to start with admittedly, but it wasn't coming down as quickly as I would have liked. As the mortgage was one of those background constants that just gets paid every month without thinking about it, I figured that if it was in front of us…
Northern Rock overpayments
I am about to sign on the dotted line for a Northern Rock mortgage. Anyone got one of these and can explain the overpayments procedure I would appreciate it. Specifically wondering if it can be done on-line and also is it true that if your ahead of yourself due to overpayments that you can simply stop paying the mortgage…
A word of encouragement on becoming mortgage free
I'm now 36 and have been free from the mortage scince ben 32, yes I bought early but been very lucky. The idea is to not use the car if not necessary or car share, do a weekly meal menu and shop accordingly and use fresh veg(as this is cheaper) any money left over either goes onto the mortage or deducted from next months…
Using tax money to lower mortagage!
I have recently become a partner in the business I have been working for the last 7 years. As a partner I am responsible for paying my own tax, twice yearly I belive. So I am looking for the best return on the tax money while i have it, off setting the mortgage seems like the best option to me. Any experience or advice, my…
Mortgage overpayment calculator.
I've just knocked together an Excel overpayment calculator. Might be useful: Might be reinventing the wheel, but it kept me entertained for a while. http://www.tomstickland.co.uk/mse/mortgage_overpayment.xls
Overpayment has reduced standard monthly payments!
I have been overpaying my mortgage by £100 pcm for the last year. This year I decided to increase this to £130 pcm, so the mortgage lender wrote to me, confirming this. In the letter they stated that my standard monthly repayment is now less than my original one (by £30 pcm), which worried me that they had reduced my…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

Mortgage-free wannabe

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Mortgage-free wannabe

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free