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Help!!! My Aim - Lump Sum repayment and reduce monthly repayment
Any help on my situation will be greatly appreciated Mortgage account total outstanding £85,000 total monthly repayment £1200 split 3 ways as follows 1 - 60K approx 7.5% 10.2 years remaining = £706.28 per month 2 - 6300K approx 6.39% 4.2 years remaining = £71.77 per month 3 - 19K approx 7.5% 10.2 years remaing = £421.62…
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Advice please re mortgage
This is the jist of my fianance CC £18000 DEBT SHARES £15000 can pay out intrest free LOAN £850, OFFSET OF £1500, so up £650 MORTGAGE £17000, £150pm PAYE £10-12000, NOT RELEASED. What would you do in those circumstances, been advised but dont want to. £18k + £17k, get offset mortgage for £35k, paid off CC, still have £15k…
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Marcus' mortgage mission
Hi fellow MFWs We currently have £102,547 remaining on our mortgage, we have 20 years to run and are currently paying back £664.93 per month on our fixed rate mortgage. Thanksfully we have no other debts at the moment so we've decided to try and pay the mortgage off as quick as we can to get mortgage free and hopefully…
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Citibank loan 12.9 %-Advice needed
Hi All, Bit of advice needed really- We are needing to do our garden for when the new baby is born and it will cost around £1500 to do. Citifinance have offered us a loan for £9000 which would mean I could clear off liams creditcards whuch he is currently paying £208 a month on and this new loan is £203 a month over 5…
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Mortgage for Newly Self Employed
Hi everyone! I wonder if you might be able to help? Dh went self employed officially as of 1 May this year (very recent, then!) and we are hoping to move house, not upwards, just across iyswim! We have £57k o/s and the house is worth around £160k, depending which estate agent you ask (varied from £150k to £185k!!!). We…
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Help with an overpayment calculation
Hi there Been trying to do this with the overpayment calculators, but with those I can't do a lump sum payment, and then a monthly overpayment... I realise I could use the calculator twice, but that isn't an accurate representation then. What we have is this: a $191,000 mortgage over 30 years (with the calcs I just pretend…
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No fee to close Nationwide Mortgage?
Morning, I am told when I ask the question with Nationwide that they will let you close a mortgage with no fees providing you have less than 10 years remaining when the mortgage product comes to an end. They also tell me that you can make the overpayment to close the mortgage with no fee etc in the last month providing you…
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Guild of Independent Mortgage Advisers
Has any one had any experience with this company ? I find it a little strange they don’t charge a fee, what’s in it for them ?
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overpay on a two portion mortgage
Hi I have a mortgage which is split in two parts - one half has 15.5 years to run, the other has 24.5 years. If I overpay, does it matter which portion it comes off? also - can I stipulate which part it comes off? apologies for a stupid question!
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what should I do?
Hi my situation - last year I consolidated all my debts and added them to my mortgage (I know - not the best thing to do, but I hadnt discovered this site then, so didnt know!). I paid everything off and now have no cards, loans etc, and Ive just got two lots of bank charges back, so my overdraft is also now paid off. I…
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first time buyer which mortagage?
hi within 6 weeks hopefully i should have my 1st house. i'm buying it from a friend a friend for £60,000 (1 bedroom flat) My question is basically im clueless on what mortgages/deals are around can anyone recommend anyone for a first time buyer? Is there anything i should beware off/know? Are there any banks etc who would…
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How many times a day to you think about paying your mortgage off?
Anybody else like me. There isn't a day goes past that I'm not thinking about getting rid of my mortgage in some way or another. I'm either thinking of ways that I could earn extra money this month, if I paid a extra £xxx off what that would do to my term and interest, could I manage a extra £xxx for overpaying, should I…
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Big Chunk Gone!
Debt Free Wanabee
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Should I pay off my mortgage now and live with no savings in the bank ?
Hi, I currently have a flexible mortgage of £35,000 @ 6.2% At the moment I also have exactly £35K in savings !!! (ISA and savings account). Question is should I blow all my savings right now and pay off the mortgage or wait another 6months to build up a safety buffer ? My current mortgage repayment is ~£480 per month. If I…
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hallmark equity plan flexible mortgage programme
we have been offered this plan by our financial advisor who i trust, but have never heard of this plan and he says it is a littlle known about gem, has anyone else heard of this, its a great plan which will enable us save money and repay our mortgage quicker but im always wary of new plans
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Loan versus adding amount to Mortgage
Does anyone have any suggestions as to which of the following is a good idea? Current Mortgage (origionally £54k 25years taken out Dec 2002) ~£48,489.10 outstanding as May 07 and 20 yrs 6 months(?) left to go on rate = 6.74% SVR I want to take out a fixed rate for 5 years (have been looking at Nationwide 5yr at 5.63% as…
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CHF or YEN International Mortgages
Hi All Does anyone have a CHF (Swiss Franc) or YEN (Japenese Yen) currency mortgage on a UK property?. I would be interested in your currency strategy in order to reduce your mortgage. Look forward to chatting with you
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offset mortgage on rental ' is this a good idea or not?'
:eek: I currently have a large mortgage on the house i live in, we have a couple of rented properties with a small mortgage on one. we feel as if we are living beyond our meens. we have decided to put more mortgage on the rentals and shrink our mortgage on the house we live in, thus getting more tax relief on the rentals.…
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What are your plans for your money after mortgage paid?
Hi all- I'm wondering what plans I should be making for after we're mortgage free? Having all that lovely money to spend every month will be great, but tbh we don't really want to spend it all, we'd like to use some to generate an income for later years- we will both be 40 when our mortgage finishes, it will mean an extra…
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Evs' MFW diary
The situation: We became debt free a couple of months ago and after reading these forums for quite a while now we decided that we what to reduce the mortgage as much as we can. We moved into a new home in September 2006 and there are a lot of jobs to do over the next few years, whilst a lot can wait and we can over pay as…
