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Advice please to save or pay extra off the mortgage?
Hello All This is my first thread - so please be gentle. I have a dilemma, I have worked hard to save approximately 10% of my morgage, now do I pay this off bearing in mind my mortgage is fixed (phew!) at 4.99% for a further 4 years or do I put this money into savings?. I know in the longterm it will save additional…
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Pay off the mortgage or off-set it
Hello, I've got an off-set mortgage, which my wife and I have been putting any spare money into our off-set savings instead of overpaying. Now my wife was made redundant a few months ago and by putting all her redundance money into savings - our savings now just exceed our mortgage amount - so with the off-setting no…
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Early payment method dilemma.
I have taken a mortgage of 100k over 22yrs, fixed over 10years at 5.37% (woolwich/barclays). I can pay up to a max of 5% of the outstanding loan each year, ie 5k this year. What I am wondering is which method of repayment will be best? I have an NS&I ISA of 3k (0.55% above base rate) and premium bonds of 5K (soon to be put…
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Luxuries
How much a week/month do you allow to spend on yourself - i.e. little luxuries after all the bills are paid. The reason I'm asking is that my hubby and I are trying to save to pay off the mortgage and I don't know if we are trying to save too hard as there is always too much month at the end of the money!!! We leave…
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Need calculator
Heelo all, Need calculator, but not a fixed one where you put in X amount of interest and X over payments because this varies over time. Hope you understand what im saying? If anyone can help? Ive only got my mortgage to clear, all other debts are gone. Joseph
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Advice on where to go first with debts?
Wrong forum, opps! sorry
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Offsetting vs Overpayments
Now I have been considering my options with the other thread and have been reading up on both. I currently have an agreement in principle with theoneaccount but I am now having second thoughts. Basically what I was looking for was the flexibility which theoneaccount gave me, but now reading more into other methods it seems…
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Which Mortgages allows this?
Hi there, New here and just getting into the housing market. I am looking at an offset account and interested in the One Account. I wanted to know what other mortgages out there offered no overpayment penalties. Cheers
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Mortgage Calculation Formula Needed
Hi I am designing a website to do with properties, and I would like to have a mortgage calculation on the site, to do this I need the right calculation formula for it. The type of calculation I need is the same as http://www.findaproperty.com in there mortgage centre page http://www.findaproperty.com/mortgagehome.aspx…
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Every little helps
After reading on here people's success stories, OH and I decided that we would try to overpay by £500 (maximum allowed in a month) four times a year, building up our savings inbetween. We took on a scary £207,000 mortgage in February and put in our first overpayment last month. We got a letter saying that we'd knocked off…
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Interest Only Vs Repayment
I am a bit confused here. Everyone advise to have a repayment mortgage.But isn't it better to have an interest only one and 1.> save the difference between the two into a current account with good interest 2.> Every year reduce the mortgage capital by paying from the above savings. In the first look the above looks exactly…
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Mortgage Overpayments - Part Repayment/Part Interest Only
Hi, We currently have a part repayment/ part interest only mortgage and we are looking to start making overpayments on a regular basis. Our mortgage provider allows over payments of up to £500 per month without incurring ERPs. My question is which lump of capital we should be paying? - The interest only or repayment The…
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Is it a good idea
I,m in the position to pay my mortgage off. Is it worth keeping a small mortgage or not. Am i just best paying it off
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Overpayment question
Hello all We have just had the confirmation for our new rate (2yr fixed ended last month) to a lifetime tracker at .85% above the base!! We can overpay as much as we like as often as we like without penalty which is what we are hoping to do and cut the darn thing by 10years. My question is does the overpayment…
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Overpayment Mortgage Calculator
Hi, I did a search and got results for everything so sorry if this has been asked. I started my mortgage, repayment, in January and this month made my first overpayment, as a standing order. I want a calculator that will work out how long my mortgage will take to pay off using these overpayments and my current repayments.…
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Continuously Remortgaging for 25 years?
Can anyone help? I am thinking of remortgaging every few years to take advantage of the best deals. However I remember seeing a graph showing the profile of how the repayments contribute towards capital and interest over 25 years. Virtually all repayments contribute to the interest in the early part of the term; it is only…
