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Dunfermline Building Society Mortgage
Hi folks, I'm new to this overpaying malarky so please bear with me. I just wondered if anyone knew offhand how Dunfermline calculate their interest? I think it is annually but I could be making this up. If so, is it then more beneficial for me to accumulate an overpayments pot in an ISA throughout the year, and then make…
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15/05/08 What Small MFW thing have you/ will you do today?
When you start paying off your mortgage, there may be some quick wins you can do, such as cashing in premium bonds or clearing out a savings account. As the months and years pass, it is easy to lose motivation a bit as overpayments become a bit of a grind, especially in the current climate of increased fuel and food costs…
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Pay mortgage off with loan, crazy?
Hi All, I have submitted similar thread on mortgage forum but as you'll read I wanna be MFW! Our mortgage deal runs out end of July and we'll owe about 33k. We have enough in both ISA's to pay this off, however, from as MSE view I'm not sure if this is right thing to do. We have about 8k in normal savings acc which would…
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Should We Pay Off Our Mortgage?
Hi, I'm a new poster here but have been lurking on the forums for a long time and love all the help everyone gives eachother. Anyway, down to business. Hubby and I have just come into some money which we weren't expecting, and it's making our heads hurt trying to work out what the best thing to do is. :confused: We have a…
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Nationwide Mortgage Overpayments
I have a Nationwide mortgage and would like to overpay. Just wondered if anyone had done this and had subsequently needed to "borrow" back the overpayments. I am planning on leaving a healthy amount in my savings account, but I would also like to see the mortgage balance going down. But if I ever need the overpayment money…
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Pay the mortgage off or keep the investment?
Hi, Found this forum really useful so thought I'd get some sage advice! My mortgage (16 years left to run) is an interest only one. I have an investment fund that right now is equal to the size of the mortgage - so if I want, I could pay it off anytime. The question is... should I?... the investment is projected (its a…
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Woooohoooo The end is in Sight
Just wanted to let everyone know that I intend to be mf by July this year, I am cashing in the endowment, and some pensions we have and paying off our mortage in full, well except for £300 which we need to leave outstanding until the end of our current deal. I am sick and tired of all the speculation about how the interest…
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Mortgage overpayment-or not?
I wonder if anyone can advise me please. Our mortgage is not that huge and we both work full time. We have a mortgage part endowment part repayment. The repayment element finishes this November when our 5yr fixed at 4.99% finishes. The mortgage then continues till 2011. The plan was to leave the payment as they are(…
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Welshlassies MF quest by 40
Well I have been toying with the idea of a diary to keep me motivated for several months and have decided now is the time. So for some background. I'm just 29, DH is almost 31. We have an IO mortgage with IF for £193,000 with just under 28 years left on it, fixed rate for 5 years of 6.39%. House is worth £250,000ish. Not a…
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How do you keep track of where you are on MF route?
I'm looking to start overpaying as soon as possible, even if it is only £10-£20 pm month initially. I have an Interest Only mortgage with IF, I know I'm able to view mortgage on line, will these overpayments start to show the capital coming down straight away? How else do people keep track of their OP if their don't have…
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DMP's and becoming an accountant??
Morning all. I'm not sure where to post this one so hopefully someone can point me in the right direction! :confused: We entered into a DMP last year and its really working out well for us. However, my husband is currently studying to become an accountant and is due to qualify next year. Someone has mentioned that the ACCA…
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MFW, What small thing have you done/ will you do today?
When you start paying off your mortgage, there may be some quick wins you can do, such as cashing in premium bonds or clearing out a savings account. As the months and years pass, it is easy to lose motivation a bit as overpayments become a bit of a grind, especially in the current climate of increased fuel and food costs…
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Incentives please!
How many people on this board are currently MF? I'm planning to be in 2 years, but can you MF types dangle a carrot just to tempt me to keep going and possible squeeze that last bit of my salary into my mortgage to pay it off that little bit quicker?? What did you do with the benefit of having no mortgage? Give the house a…
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Interest Only MFW
We have a £193K IO mortgage on 6.39% fixed for 5 years and 23 years left. We have 2 savings plans with £100 pm each going into them, (one is a regular saver on 7% interest, the other is an equity ISA (can't remember the interest on this one)), to pay have a lump sum available to pay off the mortgage at the end. We also…
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The One Account
Hi I have been reading the long thread about the one account and am wondering it sounds very interesting but is the interest rate variable or fixed? Thanks
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Should i be a MFW..
Hi all, im new so please bare with me.. Im 33 and have a shared interest-only morg with my brother. We both have seperate endowments covering our own half of the morg. I have saved enough up to be morg free. However, if i do pay off my half where does this leave my situation reguarding getting another morg etc? Would i be…
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Beginner's Questions-Now Shirlgirl's updates
Hi Everyone I've been ploughing through the threads here and it's raised some questions for me (as well as answering loads). As it stands today we owe about £57,300 on our mortgage with about 14 1/2 years to run. Our mortgage is with the Woolwich. Some people talk of seeing their mortgage details on line. I'd love to do…
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how to stay debt free?
OK you get there - debt free but for how long? We all hope that's it but is it have we learn't our lessons can we staY DEBT FREE NEED TO C LUV BOMMER 3 HOLS AND COUNTING!
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3 Part NR Mortgage - which part should overpayments be credited to?
Hi I have a fixed rate 5.89% mortgage with NR - expires in December then onto 7.59% The mortgage is in 3 parts Repayment £175,318.75 Interest only - £80,455.52 Unsecured Loan - £20,049.95 I have decided to cash all our deadbeat investments in and throw them at the mortgage. I hope to clear off £40,000 by December and then…
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£40 in my hand, do i overpay it?
Ok, just counted up my collection of 20p/50p and £1. Have bagged them into cash bags, and it makes £40. So, do i pay it into nationwide off the mortgage? Have remortgaged 2yrs ago, was £171k over 22yrs repayment at 5.18%. Have checked out the egg calculator but can't work out what £40 difference would do to the…
