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Anyone watching one year to pay off your mortgage tonight?
Saw this advertised, Sarah Beeny is presenting it, think its about buying foreign property to make money. On tonight at 8pm. Anyone watching it?
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Only paying Interest Only - Is this really bad?!
Hello Have been reading the forums with interest and wondered if I could ask some advice from you all? My husband and I moved when I was pregnant because once the baby came along, we would never have been able to get a mortgage until I was back at work full time (this will probably be in 7 years time). We decided to…
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reduce term or overpay?
My 2 year fixed deal with the woolwick is due to come to an end this month. I currently owe £49,500 over 21 years - paying £308 per month. I am thinking of reducing the term to 19 years which would put the monthy payment up to £347.00. I am thinking of a fixed deal again - don't want to pay any fees etc so am looking at…
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Nice spread sheet for calculating overpayments
Hi All, This will be my first ever post, but I have been browsing this section of the site since I got my first Mortgage in May of this year. I have borowed £105000 and I want shot of it as soon as possible. But like other people I need some feedback to see what the overpayments I have been making are actually doing. I…
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Northern Rock overpayment qeury
Does anyone know if I will have a problem doing this with a Northern Rock mortgage? I want to make regular overpayments and drawbacks from the mortgage so that I have as much of my current account money on the mortgage as possible at any one time but I pull it back once a month to pay bills, then when I get paid the next…
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Wanna be mortgage free. What should I do
My son's mortgage outstanding amount is £27500. He pays £277.10 per month and has 14 years left to run. ( He borrowed a further advance to pay off some of his partners debts last year) The mortgage is with the Halifax on their Standard variable rate. I am sure he could pay this back quicker with a different kind of…
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No mortgage
Has anyone saved up and bought a house for cash? Just wondered if it could be done. Difficult where I live as it is the most expensive in the UK but have been looking at buying elsewhere.
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Reduce the mortgage term?
Hi, Has anybody here reduced the mortgage term i.e. from 25 years to 20 years to increase the payments to become Mortgage free earlier? I have a 2 year fixed rate deal, and I spoke to the provider today and apparently you can do this, with no fee. Did you know that you can do this? I thought a fixed rate deal meant the…
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capital payments
I have a question to ask,and as a forum newbie I am a bit nervous. Anyway here goes.We have a small mortgage of £14792.94 with 9 years and 10 months left on a repayment mortgage.What I would like to know,are we better off paying off chunks of our mortgage by "Capital Payments" as rather than doing it by overpayments each…
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'Shock and Awe' approach to Mortgage from Monday morning
Currently me and my bro have a £40,000 mortgage. Been paying it off for over 2 years now and its only down to £37,400. Fixed interest rate period is up last week. Got married last September so I've been trying to save all my wages while Mrs Franko pays Mtg and keeps the ship afloat - not easy though :o ( Friend of a friend…
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Newbie MFW!
Hello! I've been lurking here for a while but have now plucked up the courage to say "hi" and announce my intention to become mortgage-free a.s.a.p.! I'm getting married in October and as a result have been putting quite a large amount of money away each month in order to pay for it. It suddenly dawned on me at the…
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BBC "Pay off your mortgage in 2 years"
Does anyone know when it will be back on our screens. It must be nearly a year since the lst series.
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All my Eggs......Offset vs Sharesave
Ok here we go.... 1st Post......I have searced the forums and cant quite get an answer.......and my mind is going into meltdown..... I have got an Offset Mortgage (£80k over 23years). I have savings in the account (£20k) But here is the question............. I could pay more into the account Or pay capital off against the…
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What to do with the money while i'm saving to be mortgage free?
We've recently had to set up an IVA after a few years of living beyond our means as we only had one wage while I was home looking after the kids. My youngest goes to school in September & I am off back to work(after 7 years away :eek: ) I have an interview next week, which sounds really hopefull & pays a brilliant £9 per…
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Mortgage v Savings
Looking at some of the threads on this site, I do count myself lucky that me and my bf have not got any significant bad debt that we have to worry about. The only problem I have in life is that I can't afford to give up work at the moment to have children as we need both our salaries to pay the mortgage. Hopefully this…
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New mortage Fee Wonnabe
Hoorah I got my Mortgage, :( I now need to pay the thing off (as fast as possible) so here goes £70000 over 30 years, to be paid of ASAP How do i do it? 1 - regular over payments? I can only afford £10-£15 per month over payment 2 - Scrimp and save? I do that already, with 2 kids and one on the way i cant do anything but,…
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Would this work??
Sorry if this has been asked before, but I haven't time to do a search :o I am freelance and therefore don't want to commit cash each month to being MFW that I can't get back, just in case. Is it feasible to save money in my ING account, and then when I remortgage, use whatever lump sum I have towards it to bring it down?…
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should I cash in my endownment policy
we changed our mortgage 3 years ago to a repayment mortgage but kept the policy going as a savings plan. it is linked in no way to our mortgage. however we have outstanding debts of 10,000 which could be paid off if we cashed it in. this would also then free up £250 each month. we are fairly sure this is what we should be…
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wow - didn't realise the possibilities
We hope to be debt free by next April (just the mortgage remaining £61k). I've just been reading threads and came across one where someone said they'd taken their mortgage over 20 years because their wasn't much difference in the monthly payments, just the interest over the term. So I set about searching and if we paid an…
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urgent advice needed here please.
I have a £49000. morgage with the chelsea B.S. but the 0.25% rise is an extra £33 is this correct it just seems a lot for a quater percent. My morgage is a repayment on daily interest. Forty nine grand is the present balance. percent raise is from 6.49% TO 6.74%. Anyone good with figures check this please as the building…