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Redemption Fee
I'm way way off anywhere near getting rid of my mortgage, 35 years away! Just wondered, this £90 that it costs to redeem a mortgage, is this only if you finish the mortgage early, i.e. I had to pay it when I sold my first house, but still had £98K left on the mortgage. If I let the mortgage run the full 35 years, is this…
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Head is in a mortgage muddle!
Hi all, I'm pretty new to these forums, but have realised that this site holds the key to moving forward financially for our family! However, husband is sticking his head in the sand about all matters financial and proving to be quite uncooperative. We have 12 and a half years left on £22.5K mortgage and are currently…
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Help - Need to transfer £4K by the end of the month
Hi, All advice is appreciated.... My current 0% deal with Lloyds TSB is comming to an end on 03/11/06. IT has £4,000 on it. I also have £3,500 on IF at 4.95 LOB ( I still have the option to do further transfers at this rate for another 4 months) What is the best advice to get these actual debts (not stooze cash) to the…
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Interest only overpayment calculator needed please
I did find one link but it wasn't working :angry:
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Advice wanted on "mortgage holidays"
Hello all, I'm currently about 18 months into a 3 year fixed deal with Nationwide. In October next year, i am looking at taking a career break for 9 months and going travelling. I dont want to rent the house out as i dont want to come home and find the carpets wrecked etc. or worse !! My options are:- to either pay the…
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Savings vs Mortgage query
Hi folks, I have a query. We have overpaid on our mortgage for several years now (now down to £83K), and due to hard work and diligent saving we have managed to save £32K. I know that everyone espouses paying off as much of the mortgage as you can to shorten the term/reduce the debt etc., but we want to extend the house…
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Earliest Payoff, What should I be aiming for
Hi I have just got a new mortage out on a house. The value of the property is £250K and our morgage is £228 today. Our rate is .75+br. I would liek to know what the earliest time we could pay this off, ie what time frame should we be aiming for? The wife and I both work full time and earn about £50k between us, we don't…
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How much of my mortgage should I leave outstanding ?
Dear All, This is my first post after a month or so of browsing, and I would appreciate any help / comments on the following please : My mortgage (£43k) has just come to the end of it's penalty / early redemption period and the interest rate has reverted to 6.84 % I am in a position whereby I can cash in my investments to…
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Decisions Decisions
Ok which direction should I take? I have a 112 K mortgage at 4.79 fixed for 2 yrs with 21 years remaining. I have a loan of £3900 at 6.9. I have a credit card of £5200 which I will split between a 0% for 12 mths and a lifetime deal of 4.75%. I do not have an overdraft. Should I increase my mortgage payments or reduce the…
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Moved the mortgate term from 23 to 10 years!
Guys I didn't know that I could do this, but I have moved the mortgage term from 23 years to 10 years on my mortgage. This means the payments are higher and therefore the mortgage is paid off much sooner! I moved it to 10 years as there is no fee to close the mortgage if you have 10years or less remaining when the fixed…
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windfall advice
I'm getting a surprise windfall of £4,000. Would I best best using that to pay a chunk off my mortgage (which is a tracker) or put it in a high yield account?
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Payy off mortgage or put money into savings?
By using the overpayment calculators set out above it seems like we could pay off our mortgage in 5 or 6 years without having to live off (too much;) ) stale bread. We are very fortunate that redundancy is virtually unheard of in our jobs so have secure incomes. Are we better off paying off our mortgage or placing the…
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overpay or save ? how does tax take into account ???
Hi, basically current mortgage is 2 years fixed rate at 4.39% my HSBC online saver is currently : Interest rate of 4.65% gross, 4.75% AER variable paid monthly. So does that mean it would be better ( for now ) to save my money into the saving account and not pay of the mortgage ???? Or do i get taxed or something....
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can we overpay ?
Just a quick question, In August we put our mortgage on a fixed rate for 5 years, and now we are hopefully going to be bringing in a bit more money on a regular basis. So can we make regular over payments ? many thanks
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Cash in premium bonds and pay off mortgage ?
I have £64,000 outstanding on a base rate + .75 deal, but also £60,000 in premium bonds (between me and the wife) I am tempted to cash them in and clear it off, I can find the remaining £4,000 but then I would miss the prizes, we won £150 this month - and potentially a bigger one. Over the last 6 months we have won £850.…
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One down, two to go
I have had 3 mortgage accounts for my house, the original when I bought the house and 2 more smaller ones for renovations. This morning I have just managed to make the final payment on the smaller one and am like this ---->:j I had been delaying making the payment as I thought I would have an early redemption penalty (only…
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new house,new mortage, new plan?
I know this sounds a little early days but i feel you can't go wrong with a little planning. I am just about to embark on my first property and by my calculations i will have between 300 and 400 left at the end of the bills each month. What is the best place for this extra money? ISA/Over pay? any guidance would be…
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Early repayment
My mortgage started in November. For the first 3 years there is a early repayment charge for repayments >10% a year. I repaid 10% in April. Does the next year start in November or do I have to wait until 1st january to make the next 10% overpayment to avoid the charges?
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What to do???
Hi, I'm currently on a fixed interest mortgage with HSBC and I am allowed to overpay 20% of my monthly payments each month, which I do. My monthly payment is £1008 and I overpay by about £200 on top of that. My question is,...because of the overpayments my mortgage term has been recalculated to being 15 years, from 23. My…
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Better to sell my endowment?
I can't find any calculators that will help me decide. I have an endowment from my first mortgage about 13 years old current surrender value is £17300. If I assume I could sell this for £20000 is it better to do that and take a £20000 chunk out of my mortgage, currently £36000. The endowment has been a disappointment since…