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Is this a good idea??????
Im fixed at 4.25 till dec 08 and have 25k in the bank, to date i owe 47k on the mortgage. Shall I: 1) Keep my dosh in a high interest account and come dec 2008 pay 25k off my mortgage (this helps avoid redemption fees too!!) 2) Place my money in an investment fund and hope it does well. 3) Do some homework and invest it…
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Which Mortgage do I reduce?
Hi Any advice would be welcome on the following: Twelve months ago we took out a £150K repayment mortgage over 25 years when we moved home. Thankfully, we decided on a 3 year fixed rate of 4.75% with Britannia. We also have a Buy-to-let interest-only mortgage of £45K on an apartment. The curent rate for this is 6.64% Now,…
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Mortgage Redemtion
I would like to know from people who have repaid their mortgages, what they consider the best thing to do with the deeds to the house. Do you keep them at home or is handing them to a solicitor the best option? Advice please. Jeff
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Mortgage on a credit card
Hi I'm new here and have a question. We have about £9k left to pay on our Mortgage. Currently paying it off on a repayment mortgage at £255 a month with 3 years to go. I had a thought that we could pay it off using a 0% credit card and move the balance of this when the 0% ends. Does this sound like a good plan or am I…
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Overpay mortgage or save into cash ISA's???
Hello everyone, this is my first ever post, so please bear with me. My dilemma is this.... I am 30 years old with £100,000 mortgage. I currently have around £10,000 in cash Isa's. Out of my wages I can afford to use £1,100 a month for the mortgage on its own or a mixture of mortgage and ISA payments. Which would be more…
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Mortgage paid in Full
Just paid off mortgage what a feeling ,nice not to owe anyone a single penny ,Would like to thank this site and its members for the advice given ,as i would be putting money into savings and not clearing the mortgage . thanks again:beer: :beer: :D
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Mortgage Free Dilemma
Hi Everyone, First posting here, think I should explain a little about my situation before I explain my dilemma. At the beginning of this year, I had saved up a little money and was considering placing it all into my mortgage. I realised though that I could make the money work harder for me, so I re-mortgaged my home to…
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Should I pay off my mortgage?
I have recently received a sum of 100k and my mortgage is around 100k, i'm thinking of a few options - 1. Pay off the mortgage. 2. Take out an offset mortgage for 100k and stick my 100k into a saving account and use the interest to pay off the mortgage. What do you think? Thanks Al
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using mortgage as saving account
My partner and I have approx £200k outstanding on our mortgage (house worth £240k ish). This is a 2 part one with Nationwide, 1 part fixed at 4.79% until next July (£150k) and 1 part fixed at 4.97% until next November (50k). Amounts are approximate, I can't find the log on details for internet banking! (but are pretty…
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how early mortgage repayment save money?
No, I'm not totally stupid ( although it may be difficult to believe reading the heading of this post:D ). Surely it does, I just can not understand how exactly it happens. I have an idea that when the one takes mortgage the following thing happens : the amount of money lended added to an interest that would the money…
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Tax break on Mortgage!!
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Reduced Interest or Reduced Term
I haver recently started overpaying on my Nationwide repayment mortgage - I receive a letter each month telling me that my monthly payments have reduced. I am informed that if I want to reduce the term of the mortgage rather than the monthly payment that I should contact them. My financial circumstances are about to change…
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Overpayments Confusion
I keep reading about the difference between your overpayments shortening the term, or reducing monthly payments. I have just taken out a 38 year(!!!) mortgage with Halifax, with a 2 year fixed rate of 5.99%. We certainly don't intend to see out the life of this mortgage as we will be movin again in 2-4 years time but are…
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Why It Pays To Never Pay Off Your Mortgage
And Discuss http://money.uk.msn.com/mortgages/mortgageguide/article.aspx?cp-documentid=4758898
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I Wanna Be on that Roll of Honour!
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The best mortgage calculator here
Hi Everyone, I'm due to re-mortgage soon and was having trouble deciding what product to get and over which term to re-mortgage. All the mortgage calculators out there just weren't telling me what I wanted. That said, I decided to work it all out for myself at the weekend. The information I found for myself was quite…
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Mortgage Free Today!!!!
Just wanted to share my good news with you guys, my husband and I walked into the Abbey today and paid up our outstanding 60k mortgage :j Have to say it was a brilliant feeling. I have been battling with the Abbey through the courts and with the advice of Martin and this site to re-claim my bank charges (case now stayed)…
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CAM Mortgage
Has anyone got a Current account mortgage Is it a good way to pay your mortgage off.
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Mortgage overpayments
Hi everyone, I bought my first house In January last year and, while the mortage value is fairly small compared to the sums borrowed by some people these days, I'm keen to pay it off as soon as I can For the first year I stuck to the normal monthly repayments just to get my feet on the ground, but am now overpaying by 150…
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Overpaying Nationwide Mortgage
Hi, Hope someone can help. Been reading posts and am totally motivated to become mortgage free in 5 years (end of fixed term with deal with Nationwide) Prob is that I have a 2 part mortgage. Both parts are due to finish at same time. One part is Interest only (approx £40k) and other is repayment (approx £32k). Both are on…
