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should i or shouldn't i?
hi i'm just trying to get my head round what to do. i'm in the process of buying a house in the uk having lived for 8 years in france. i came back here after the break up of my marriage, and my husband is buying me out of the french house as soon as we are divorced, which should be about three weeks from now. i have come…
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Sell or Rent - mortgage free dilemma
Hi all, Mortgage on our main property = 80k Property value = 250k We also have a 1-bed flat we rent out. Rental income = £375pm Property value = 100k (no mortgage) Property prices are rising fairly good in our area. My opinion was that we should continue to rent and that although the tax man gets a fair chunk of the rental…
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Should I pay my mortgage off now and how?
Hello, my husband and I have a £33,000 mortgage taken out in 1997 with Nationwide. I have just been checking our savings and we have just over £20,000 between us in ISAs. I would love to be mortgage free - even though this is not a huge amount in this day and age but what is the best thing for me to do? I'm not sure how…
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400K mortgage to shift
hi, im new to this so please bear with me - is it at all feasible to clear a 400k mortgage in say 5-7 years - my husband has a great salary 5k a month but nearly 3k of that goes on our huge mortgage - any ideas or support would be greatly appreciated
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Advise for a newbie
I have a mortgage of £120600 with HSBC Homestart on a 10 year fixed rate over 30 years. The repayments are £550 for the first three years going up to £720 for the rest of the fixed rate period. I am only allowed very limited overpayments on these payments - £110 over payment for the first three years then £142 overpayment…
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Explain to me Why its Good to Pay off Your Mortgage quickly!
I understand that if you pay your mortgage off sooner rather than later you will pay a heck of a lot less interest so Im not being thick here. The way my hubby and I look at it is this: We are 46 and 42 and have never had a pension. My husband never believed in them and we couldn't afford to take one out at the beginning…
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Setmefree's Diary: MFi5 journey
Hi This is/was our Mortgage Free journey. MORTGAGE £250,000 Mortgage June 2003 £ 67,443 Payments/Overpayments 2003-2007 £182,557 Mortgage April 2007 - MFi3 Challenge start date (Dithering Dad's) £ 23,081 Payments/Overpayments £159,476 Mortgage April 2008 - MFi3 Challenge plus 1 year £ 40,785 Payments/Overpayments…
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Here we go...
Hi All Spurred on by the many posts on the subject I have decided to give this a go. I have set a target of being mortgage free by the time I am 45 (I have just turned 39). I wish I had done this sooner. Dave
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2year fixed rate coming to an end .. on a dmp?
hi my 2year fixed rate is coming to an end in a few months. i am on a dmp! will it affect what mortgage i get? i.e will i ahve to pay a higher interest rate? thanx
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Pay of mortgage or reduce it to £100??
Hello, my first post (hopeing it goes well) I have a mortgage on a fixed rate ending at the end of next month and was all set to pay of my mortgage pay the security release fee (£220) and receive the Deeds to my propoerty. I will point out here I intend moving house next year to somthing bigger. My question is if instead…
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We've had another row today......
......but finaly I have told my wife the full situation of our debts. Things were a little tense at first, but then she fully got with the debt clearing ideas. I know I should have been more honest with here earlier but it has been hard. Well, the worst is over now, we can both concentrate on reducing our debts.
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Mortgage advice please
Please be gentle, It's my first time ! I have £ 62,000 owing on my current mortgage (16yrs remaining) and would love dearly to clear this asap. I will be leaing my current job in under 5 years having completed 22 glorious years in HM forces. I have calculated that on my current deal I will still owe approx £ 52000 in 5…
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Shared Ownership: shall I make extra mortgage payment or save to buy more equity?
I am in my second year of a 24-year £59,000 mortgage, buying 40% of a property worth £200,000. I pay rent on the other 60% at a rate of 1% of the unsold equity per year. Right now both my monthly mortage and rent payments are approx £300 each. I can buy more equity, minimum 10% at a time, but I can only take maximum 4…
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Standard Life Bank Mortgage Offsetting
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What would you do?
My wife and I currently have a mortgage of £120,000. Our house is worth around the £250,000 mark. We pay £680 a month in mortgage but have stocks and shares to the value of £180,000. I have been contemplating this as my wife has recently set up a new business and she is struggling to contribute to the mortgage so money is…
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views saught
I have scanned the boards and this seems the nearest place to post as regards my dilema. First, just a small ammount of background info. The last few years we have had to hold our financial belt in, with insecure employment for myself and some redundancies to deal with. Because we have always lived well within our means…
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ANY ADVICE?? PLEASE. updated
hi, i bought my home 5 years ago for £19500.. released equity, mortgage now stands at £32000.7.24% and 7.74 on cash back.just got new offer of 6.19 for exsisting borrowers discount so new rate is 6.19. i can pay £1200 overpayments till next nov where it will go up to £5000p/year current value £87500. i have debts on 2…
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IF offset with ISA - overpay or ISA?
Hi I am about to start a new mortgage with Intelligent Finance. I have opted for an offset and I will start an IF ISA as well, which I can also offset against my mortgage. My plan is to pay my mortgage off as quickly as possible. Is the best way of doing this to make overpayments directly into my mortgage account or my…
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Mortgage free either way, but which is best?
A friend asked me my opinion on this and I am still trying to think of the best answer, so please help out by sharing your thoughts. Property prices in our area are falling, the market appears to be static. You can buy a decent 2 bedroom house for under 100k and you can rent privately from about £300 pcm. In fact, I've…
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how much of my mortgage to pay off??
:money: hi guys i recently(2 months ago) took out a 10 yr mortgage and soon will have enough to pay it all off. however, the terms state if i pay it all off within my 1st yr i will have to pay a £1,000 fee. the mortgage was for 30k :money: and i'm wondering what the maximum amount is i should pay off so i can still…
