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Mortgage-free wannabe

Archives for January 2007

isa v offest mortage
i have the maximum of £15k in isa,a and will put £3k in another cash isa in april , has anyone worked out the advantage of having offset mortage as i have £20k savings in total against £35k mortage , or thrid option of stake holder pension ?
I've heard it all now!
Just rang my mortgage lender to ask for a settlement figure and the 'customer service advisor' (ho ho ho!) told me that it was illegal to give me that information!! :rotfl:
Bet You Have Heard This Before
I apologise if you have had this before,we are with northern rock on a repayment mortgage and i have recieved our statement this morning.We were tied with them for 4 year's which i think is up sometime this year,i was wondering what is the quickest way to pay the mortgage off. owes...23,754 pay...235.00 we can afford to…
Direct debit or standing order??
hiya!! Im a bit new here so my threads maybe a little simple or already been said so sorry in advance. I cancelled my direct debit to my morgage and phoned them up to reinstate it, they said they would send me a DD form to fill in. However i needed to send the money within four days and would never make it in time. I asked…
OMG - I think I CAN be 'mortgage free at 40'!!!
I always planned to finish my mortgage when I was 40 - well I took out my first one at 20, and it was a 20-year mortgage....well, life took may strange tirns over the last 16 and a half years (moves, redundancies, divorce...etc. etc) so I had begun to think that I would never reach my target - having just over 11 years…
One-off payments to Mortgage
Hi, I thought I was clued up on this but now I'm confused. We increased our mortgage payments by £250 which was all fine and dandy. We had a some funds left over last month and decided to send £500 as a one-off payment. Today I receive a letter from the bank advising that the have decreased my monthly payments following…
Can 0% credit cards be used to pay off Mortgage??
Hello My old dear owe 7k on her mortgage with 2yrs 7 months to go. She is paying 7.09% interest. Can i move this to an interest free credit ? Thanks to all
First time buyer
I have planned to purchase a business premises along with another person with the intention of buying to let. Bidding for the premises ends within 2 weeks and we are going to apply for a mortage immedietly. We can easily put down a lump sum which is worth around 25% of the property, however we do require an additional 70k.…
Mortgage Redemption Charges
Went to try and pay off my mortgage today and was astounded to be presented with a £199 administration charge. We are fortunate that our fixed rate ended a couple of weeks ago, so apart from the charge for changing over the deeds, we weren't expecting this. I was wondering if this comes under the 'unfair bank charges' that…
overpaying - how best?
Hi, I am fairly new to this board and have found the advice to be very helpful and accessible. Just a question - everyone seems to be talking about overpaying their mortgage (even if it's only by a small amount each month) and I can well see the benefits of this BUT how do you do it? I have a 3 year deal at the mo which is…
Pay off Mortgage - Jam tomorrow?
Hi MSE'rs What do you think? DH and I are in our fifties with an o/s mortgage of £112k and a house worth £250k. We have 14 yrs left to pay. We dont have any kids or dependants. Should we overpay the mortgage in order to pay it off before retirement - we have reasonable pensions due - or use the money to enjoy life more now…
Overpaying instead of protection
Due to the price of mortgage protection - I have thought about overpaying on my mortgage. I wonder if I overpaid say £100 per month - would my mortgage be 'in credit' - ie if the worst happened and I was unable to pay - would I already be in advance of payments - and so it would be longer before I fall into arrears ???
Do i pay the mortgage off or ???????
Hi All I dont know what to do for the best. so maybe some of you may be able to help point me in the right direction. I am in the starting throws of buying the family home (£220'000)and selling my current property (£210'000). I currently have £55'000 left to pay on my current mortgage. So, how i work it out is that i would…
Mortgage experts....advice puleaseeeeee!
Being a total mortgage virgin, I am hoping someone with more financial aptitude can give me a hand. Myself and my partner are first time buyers, we are hoping to purchase a house for £160,000 (the mortagage companies have offered us upto £200,00 - but the house we like is only £160,000. We want to be able to pay off extra…
Mortgage paid off! What is our tax liability if we rent the house out?
By being disciplined, my girlfriend and I have just paid the last payment on her mortgage, 20 years early :j ... (well it was only £24,000 to start with but it sounds good!). We plan to marry soon (good timing!!) and we plan to live in my 4 bedroom house rather than her 2 bedroom house and hoped to rent her house out. What…
Buy to Let Mortgage
Does anyone know if you have to own a property before you can apply for a buy to let mortgage on another property. Thanks
Cashing in a Maxi ISA to pay off part of mortgage
Does anyone know if there are any tax implications if I cash in a Maxi ISA to pay off part of my mortgage? The maxi ISA is an NDF Homemaker plan that has been running for 12 years and is currently worth £23000.
Have I got my calculations right Egg vs Woolwich?
Morning All I hope you will help me as I want to change my mortgage but get confused with all the calculators etc. I am currently with a Woolwich Offset Mortgage this is how it looks: Mortgage £48,000 Monthly Payments £1000 Term left 5.2 years - according to my statements Savings offset £7000 We are not looking to borrow…
mudmole
Hi, I'm a 36yr old carer my OH is a plumber, not financial wizards, just normal folk. 9yrs ago we sold a 1bed flat for 41k as we needed a bedroom for our 4yr old.we left our home town and moved 22 miles away and bought a wreck of a victorian terrace 4 39k with a 21k mortgage.My OH renovated and was a house dad while I…
Offset mortgage should I pay off some capital?
Hi guys We've just set up an offset mortgage with the Woolwich and plan to be mortgage free in 4-5 years. We have offset 45k (8k of this needs to remain in savings as it's on loan from a family member) on a 71000 mortgage. Is there any benefit to paying off some of the capital now - apart from feeling great about having a…

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