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we would love to join
hiya we have currently a £97000 mortgage with currently 22years to go. really hoping to reduce this!!!!! Quickly!!!!! luckily able to put £10000 this week as bonus time. does the full amount come off making the total £87000 or does sum go on interest? cannot reduce term as would affect rate currently base+0.25 thanks in…
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Should I Clear my mortgage
I have a current mortgage of just under £70,000 and am on a fixed rate tracker until December 2010 with a % penalty for paying it off, 3% in the 1st year, then 2% etc etc. Due to the unfortunate death of a relative I should receive somewhere in the region of £85-£90,000. Now should I: 1. Clear the mortgage and incur any…
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Day interest is calculated.
Hi there, If my mortgage interest is calculated on the last day of the month, when is the best time to make an overpayment or does it make no difference? :confused:
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help needed please
A bad day at work and looking at all your posts has inspired me to start overpaying on our mortgage - im 38 and want to be retired at 50!!!! The thing is i have no idea how to go about it. Some months i could manage extra other monthe not as much - do i have to agree to a regular monthly sum or just bits as and when. Is…
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Morgage free??
There are four years left on a morgage of £40,000 plus an endowment. I pay £260 a month. I have inherited twice that much. Do I keep paying the morgage and invest the inheritance. Or pay off the morgage and invest some of the remainder. Thank you for your help.
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Yes Yes Yes ohhh Yes!
Ohh yes oops you may be thinking i am having a "when Harry met Sally" moment but noo. This is even better i have just checked my mortgage account and its empty its finally been done all my overpayments have come to fruition and paid it off. And its showing i owe nothing its finally been paid off. Feels so good right now i…
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Deliberately not paying off the last bit
A few years ago I moved our £52,000 mortgage from the Nottingham Building Society to the Royal Bank of Scotland's current account mortgage. Since then I have managed to pay off £42,000 of the debt. I could easily pay off the last £10,00 but (and I don't really understand this) because I try to ensure that there is always…
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viewing barclay/woolwich mortgage online?
First post so hope it is in correct thread. We have just completed a remortgage with woolwich and i want to start making overpayments, is it posssible to view a mortgage statement online to see what difference the overpayments are making and if so how? I have received all the bumf to go online and registered but cant see a…
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desperate mfw
hi i'm new to the site and wanted to see if anyone had any ideas on how i can reduce my outgoings. the aim is to pay off my scary mortgage debt within the next 10yrs if possible. i finally paid all my other debts this month and have my wedding in sept all budgeted for. i owe £147,000 on a flexible discounted deal that has…
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what do you do when you have cleared all debts?
i'm sure there are people here who have paid off their mortgages and other loans, but i was wondering what's next? i'm desperately trying to pay my mortgage off as quick as i can. i'm not sure what i will do when i finally get there, all i know is i want the freedom to not have to work. it's not that i want to laze about…
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One Account - Question
I've got an offset mortgage with the Newcastle. I haven't actually been offsetting, just making overpayments but it's .5% + BOE so it's ok. All the calculators confirm that if I maintain my overpayments I'll be mortgage free in 3-4yrs. I just looked at the OneAccount Mortgage Shrinker web site and the bit where it says:…
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mortgage help
Ive got 7 years and 7 months to go on my mortgage the figures are: amount borrowed £64000 interst only £35000 monthly payment £537 interest rate 5.64 discounted rate until end of term I want to reduce the interest only part by £5k to start with because I've got a crappy endownment that wont cover the £35k. is this the best…
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Nationwide mortgage
Our mortgage rate went down a couple of months ago from £972 approx to £942 approx. I called Nationwide to up our DD to £1000 pcm from this month. Will it be obvious which is the regular amount ie £942 and which is the overpayment on our statement and online? Should we have left the DD the same and made separate…
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Changing from interest only to repayment?
I have an interest only mortgage with HSBC that is due to move back to capital repayment in 2010 (Remortgaged onto a re-start last years, as I had to find a way to keep my house while I sorted out my divorce...!!) Its not a bad deal - 5.79 fixed until end 2009, and split into two parts £112,000 (my original mortgage amt)…
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Lessons & Surprises from the First Year of MFi3
The first year of the MFi3 challenge has been quite a learning experience. I thought it would be interesting to see what people had learned, realised or been surprised by during their first year. * I was surprised to find I had cash I had rather forgotten about, languishing in poor investments (sadly they were only small…
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Overpayment Question
Hi, I've been paying £1000 over my regular payment for the last 10 months. I've been allowing the payment they charge to me to drop by the few pounds it is each month. Does keeping the payment the same after overpayment make a big difference? If I instead just added the equivalent to the overpayment, that does the same…
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50+ Mortgage free wannabe, any advice?
Read quite a lot of posts but most people seem to be quite a bit younger than me (56). I am divorced and have a mortgage of £105k which at the moment is over 15 years. 30k is interest only and I should have the money to pay that back in 2011, I really want to pay off the mortgage early but not sure what the best way to go…
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Moving home - do we pay it off now?!
Can anyone help with this question? (In rounded easy numbers!) We’ve got a mortgage of approx 140k. We’re in the process of selling our flat for approx £240k, leaving us a profit of 100k (ignoring all the fees etc at the moment). Now, the mortgage we’re on with Abbey is fixed rate for another 4.5 years (ish). We’re…
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How big was your deposit?
I am intrigued as to how much deposit people can afford to put down on a house as we're currently saving for a deposit ourselves. So thought Id do my first poll... (I saw the interest rate thread and thought it was a useful thread!) :money:
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What is your current mortgage rate...
Thought this may be interesting to do as a poll. If you're in either extreme, eg < 4.00 or > 7.49, you may want to give your rate. I'm part way into a 5 year fix at a rate of 4.79% This followed on from a 2 year fix, also at 4.79% In hindsight, I think this was a good decision rather than go for shorter terms and pay…
