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How do we minimise fees at the end?
We are approaching the end of our current deal with Nationwide (ends this month) and they have let us throw the majority of our savings in to knock the mortgage down to one we can now set to end in 5 years under their current rates. However, we want to end the mortgage in 4 years and 7 months. It's a schooling issue as we…
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Get Focused and go for it!
Hello everyone, This is my first post ever on any kind of forum, probably been too fascinated reading everyone elses to give it a go, but here goes... After six years at our current property and having the grand total of £31,800 outstanding on the mortgage I've decided it's high time to get rid of this millstone once and…
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Is Interest Only the way to go?
A guy at work recently gave me the following advice, although he is not a moneysaver, so I wanted to check it out to see what you think... :confused: Take out an interest only mortgage so your monthly payments are lower (enabling me to pay more off other more urgent debts) Stay in your house for a long time, at least until…
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Reducing mortgage
Hi I am looking for some general advice I am going to be moving to a new product soon and was wondering if you would recommend taking mortgage over shorter term or just keeping it to the 25 years and making overpayments (500 per month) does this mean the same interest wise? Any advice greatly appreciated.
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Best way to clear
Following on from my other post on this board, if I decide to stay put, what would be the best way of clearing my mortgage. With 6.5 years left, how would I best go about clearing my mortgage? Do I have to wait the full term for the endowments to pay out so that the bulk can be paid off? Could I take a repayment mortgage…
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just a chat
hello this is my first post on this site. i have read alot of the posts in this section with interest. me, my otther half and my daughter moved into our new property earlier this year i believe in taking the maximum mortgage that you can afford so that the property you buy not only has the most potential to increase in…
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Personal Loan v Re-mortgage
I want to pay off my mortgage (approximately 18k) over the next three years - what's my best option? My discounted period ends in February and I don't know whether to stay with the same lender, re-mortgage again and take advantage of a further discounted period or take out a personal loan. Maybe there are other options…
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Should I or shouldn't I.....
I'm a mid-30s single fella living in a 3-bed £155,000 house at the moment. My mortgage has 6 and a half years left on it The majority on interest only with the remainder on repayment. I've been to the bank as I'm thinking about moving to a nicer area with older (read bigger) houses. I can remortgage up to the figure that I…
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To One Account or not
Hello, First post on the forum (after discovering it last night and spending all evening reading – it’s truly a great site!). OK, here’s my situation, I would really be interested in your comments. I’m trying hard to get rid of my mortgage over the next 4 years. Currently it’s 80k on a 250k property standard repayment…
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3 Years 2 Months
We are away to send our cheque today to Standard Life to completely pay off the remaining balance on our mortgage:T . Since deciding to make a concerted effort to pay off our mortgage early it has taken us 3 years 2 months wih a starting ballance rmaining a he start date of £53000. I couldn't be happier, just thinking…
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Calculator for reducing monthly payments?
Hi I will be moving into my first place on Monday 13th Nov! My partner and i want any spare money after savings etc to go into the mortgage. We decided that right now it would be best for us to reduce our monthly payment. Does anyone have a calculator to see how much we can reduce our monthly payment by with overpayments?…
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House Owners - What Are You're Best Three Money Saving Tips?
I'm just about to buy my own place. First time buyer. I lived away from parents as a student but that was ages ago. Basically, I know nothing about the most money efficent way to live alone. If you had three tips for me what would they be? In particular I need help on:- -Gas -Electric -Water -Broadband -Sky Sports (may be…
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Independant Banking Advisory Service (IBAS)
Has anyone experience of this organisation? Are they ok/legit? My partner is being chased by the Halifax and Counselling Intermediary Services (CIS) for a shortfall from a mortgage she and her ex had in 1995 (when their house was repossessed). She found this site http://www.ibas.co.uk/ which seems to suggest they will…
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Pay off mortgage or have savings?
I have got a puzzle i have not been fortunate to have before. All things permitting, i.e sale of previously rented out house, by next week I will be able to pay all my unsecured loans and credits cards. Loans / cards gone! Put away Captial gains tax payment in premium bonds till 2008 Put £3000 each in ISA Maybe £26000 off…
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Get out of Redemption Fee free card
I am currently on a Nationwide discount tracker and the 2 year deal ends next month. There is a £350 redemption fee on the mortgage. Is there ANY way out of paying this? E.g. is it worth asking Nationwide to waive the fee if I take out another Nationwide mortgage? Or I read on another post that someone got out of their…
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Overpayments versus term reduction
Hi - I have a question. We're regularly overpaying on our Nationwide mortgage but having browsed through this forum, a thought occured to me. Would reducing our term at the next renewal stage of our mortgage be a better approach than paying he overpayments? I'm aware of the risks of having less flexibility but then we're…
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Mortgage overpayments on Smile
I want to overpay my C and G mortgage via my smile account. I need to put a reference number in, and so I put in the mortgage number. It lets me link directly to C and G mortgage payments, and there is no section for sort code, or Account number. Has anyone used smile for overpayments before. Is this the right way to do…
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My bank has accidentally overpaid me
I have a question. Due to the continual incompetance of my bank (Barclays), I decided to close my account with them and set up a new account with another bank. I had an existing standing order which transferred money from Barclays account to a savings account with a building society account I held elsewhere. I have been…
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Mortgages for property abroad?
Does anyone know of a mortgage company that will lend on a property bought abroud, in a stable none EU country? I don't own a property in the UK. Thanks GG
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Savings and overpayments
At the moment, the only savings we have is to cover the sofa payment next March. It does scare me a little bit that we have no savings whatsoever, but I am going to try and rectify this. I also want to overpay on the mortgage a bit more just so I can lower the payments in a couple of years when we have a baby. What is…
