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Cash Isa or mortgage overpayment?
we've just finished renovation our house and by Septembers pay cheque will have cleared the debt we have left from this. I will then be in a position to overpay £700pcm off the mortgage, currently on 2 year fixed deal with Co-op at 5.09%. My question is and I know this is probably a no brainer for most but I get very…
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Last mortgage payment
The final payment of my Abbey repayment mortgage with Abbey is due mid June. They have said there is a #100 charge to end the mortgage. I'm assuming I'll need to pay to have the property deeds stored securely somewhere (with my bank ?) Could anybody offer any advice as to whether or not paying of the mortgage is the wisest…
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What happens when my house is worth less than what I owe?
People say that if house prices are going down then you have only lost money on it if/when you come to sell it.... Well what if you need to renegotiate a new mortgage deal (of which there aren't any good ones anymore) My situation is this: I have a 5 year fixed rate (5.57%). still got 4 years left on that deal. Mortgage…
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MFW Newbie - with some questions
Hi, Have just moved into our new flat and absolutely loving it!!! :j But now it comes the big question of how to repay our mortgage. Just had a look today on our mortgage account and I am horrified at the amt we have to pay and want to come up with a plan to pay it off in the next 3 years. But before I do so, I need 1…
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Statement of intent
Have been keeping this thread updated more often than I thought (thanks to those of you with interest keeping me going!). So updating this original post to reflect the position end March 2009 Mortgage: Repayment mortgage commenced October 1994, moved schemes within B Soc and always overpaid a bit (but birth of daughter in…
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Flights to New York
This is my first post on here and I would be so grateful if anyone can help! I am planning on going to New York for 5 nights in September with my girlfriend and we are currently looking at all the options for flights! We have been quoted anything within the price range £300 to £600 which according to some of the forums…
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MFW newbie - a few questions
Morning inspirational people. I'm a MFW newbie and wondered if you guys could help with some questions? I've had a look around the threads but am still not 100% of what I'm doing so thought I'd run it past experts :D Situation: Mortgage of £93,147.52 (pays both bits type of mortgage :) ) Fixed rate until 30th November 2008…
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a point on overpaying
hello all, just a quickie that may be helpful to others. We have recently started overpaying our mortgage a couple hundred pounds a month (whatever we can afford at the end of the month). By chance I happened to phone our lenders (Nationwide) to see what this had changed our new mortgage term to so far. They advised me…
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Regular checks to maximise OP potential - Check for June
In the "MFW What small thing have you done/will you do today" thread it was suggested by molit that we have a thread which we can all contribute towards for things to check on a regular (monthly/quarterly/annually) basis to ensure we are getting the best deals for things, finding all opportunities for extra cash and any…
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Pay mortgage or save?
We have paid £10000 capital off our mortgage this year, (following a small inheritance) & are overpaying £200 each month to try to pay it off as soon as possible. There is approx £33000 remaining on the mortgage, over 12 years, and its' current mortgage deal is a capped rate of 5.6%, which is due to expire at the end of…
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Paying off mortgage
Sorry if this is on the wrong board but... I was left monies after my mum sadly died last year. I rang my mortgage company for a settlement figure which they duly sent me and I in return sent off the cheque to pay off my mortgage. After sending them two further letters requesting deeds I rang today to be told that they had…
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pay off mortgage or save in ISA
I've read all the articles and a fair few posts but I'm still not sure. The article is based on having spare cash after you've filled your monthly ISA allowance. Well that is £600 between us and I've given up work to look after babies so there is no way we have anything over that! So do we overpay on the mortgage or put…
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A&L Overpayments
Can't seem to see the answer on A&L web and can't phone at the mo (in work) Can I set up a DD for an overpayment each month, say even £25? Rather than going into branch? I had thought of setting up an Isa but TBH I would just be tempted to take it out and spend it (happyshoppingfingers!) but if its paid into them by DD I…
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Mortgage paid off
Ok. Well cheque for paying off mortgage has been sent. They have received the cheque and it shows up on my statement as cleared. Few days ago hubby phoned mortgage company to make sure they had received the cheque. Said they had but also said this months installment will be taken from bank account and any overpayment will…
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Mortgage Overpayment against ISA saving
Can anyone offer advise as to wether I am better putting £200.00 per month as an overpayment towards my mortgage or saving this in an ISA. Appreciate any advise
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Overpayment calculator
Is there one that can show a breakdown for monthly overpayments AND lump sum payments?
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Looking at joining a good mortgage network.
Hi I've been working as a mortgage adviser and in financial sales(have full cemap etc) for a while now and i'm looking to set up on my own. I know the market is bad right now but I want to work on my own. I've been thinking about joining the "Pink" mortgage network, they charge a flat monthly fee and seem reputable. Has…
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Offset,flexiable or normal?
Hi I have an Offset mortgage with Yorkshire BS and am on a deal of BOE base rate plus 0.75% so 5.75% but this deal will end in a few months.Not sure what the apr is on this. Looked on their website and their cheapest offsett for mortgage transefers is 7.2% apr and cheapest normal mortgage 6.9% apr. Done a few searches and…
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New Charges for Repayments
Hi, sorry if this is a bit newbie. I've got a C&G tracker which I've been making extra payments on whenever I could for the past few years (currently should be gone in about 4.5 years). I just made a capital repayment (which have always been free, that was one reason I chose the mortgage) but I've had notification that…
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Help - fixed rate ending!
Be warned - it's failry long and slightly complicated! Dear All, I hope this is the right place to be posting this. DH and I have an outstanding mortgage of approx 121,500 GBP which from 1st June 2008 is no longer on the fixed rate of 5.39%. This means it will revert to the SVR of 7.49%. In short, our monthly payments will…
