Mortgage-free wannabe

Archives for March 2009

How will it work?
Ok so my OH and I are on our first mortgage. Its interest only and currently fixed at 5.24% with Abbey and the fixed rate expires in June. We only have 10% equity so we know there aren't any brilliant remortgage deals out there so we are just going to move onto the SVR (currently 4.24%) which will save us £140 a month :j…
overpay mortgage vs additional pension years?-help!
Hi, i hope this is the right place for this question, if not, please feel free to merge or move me!;) DH and I have used martin's calculators to see regularly if any savings are better for us than mortgage overpayments, and other than our £4k isa emergency fund we have consistently (for about 8 months) felt mortgage…
Well thats torn it :(
Gggrrrr Purchased our house for £153k 2 yrs ago with a £126k mortgage and have been making overpayments and off setting have got the mortgage down to £115k, oppe dthe payment to £900 per month and the off £100 or £50 here and there - in addition as soon as the monthly interest was added the 'odd' amount paid to bring it to…
mortgage repayments
hi everyone, i posted this query on the mortgage section but i wondered if any of you had any thoughts on this. i have a mortgage of £102000 (5.18%) and asked nationwide to reduce the term to december 2011. the repayments are to start in april and will be £2499 (45 month term). however the nationwide have now said their…
Is now a good time overpay on a mortgage?
Been trying to work out whether now is a good time to move my savings against my mortgage, considering the poor returns on savings and thinking that moving savings now to my mortgage makes more sense due to the low interest rate on my mortgage. My situation is as follows: Nationwide mortgage (on BMR, and flexible) £79k o/s…
Tmb
Have not passed on any of the last three cuts?? Yet HBOS have??? Really winds me up:mad:
MFW - 2015 - £200k mortgage
Well, I've been on here a while, but I've worked out a target and I thought by signing up it would keep me motivated. Have a 5 bed house in Kent bought in 2005 for £280k. Probably worth about the same now! :rotfl: Initial mortgage in August 2005 was £202,000. We have an offset mortgage 0.95% above base rate (!) and our…
A@L overdraft use against my mortgage
Hiya I have a Alliance and Leicester £1500 overdraft (FREE) Last year the £1500 went into a ISA Fixed for 1 year 6% At the end of this month my ISA finishes and my free overdraft finishes So next month if i leave the money in a ISA (2.5%) i will make £3.12 per month BUT i will be charged £5 per month for having a overdraft…
A@L overdraft use against my mortgage
Hiya I have a Alliance and Leicester £1500 overdraft (FREE) Last year the £1500 went into a ISA Fixed for 1 year 6% At the end of this month my ISA finishes and my free overdraft finishes So next month if i leave the money in a ISA (2.5%) i will make £3.12 per month BUT i will be charged £5 per month for having a overdraft…
Leeds BS - no overpayments but can triple DD?
Hi, I have a mortgage with Leeds Building Society, currently outstanding around £46k, fixed rate until 31/07/10 at 6.59%, repayment currently £327.22 a month, 24 yrs left My mortgage is very strictly no overpayments whatsoever, apart from totally paying it off in one go (which would cost nearly £2k in early redemption…
Mortgage or ISA ?
All First post although I have been reading through the forums for quite a while. With days left before the ISA cut-off, would appreceiate some guidance. I have a NatWest One mortgage (similar to OneAccount with all mortgage and savings in one place). My current mortgage interest rate is 3.65% and have approx 150K left on…
0% credit card to clear the mortgage...
I owe £6000 and have two years left, is it possible to pay this off with a 0% credit card the longest 0% on the market is 10 months.Are you allowed to use a card to pay off the remainder of a mortgage..
payment holiday to pay a lump sum off
hi, I am trying like everyone to get my mortgage paid off as soon as possible. I know most mortgages are different but also have a lot of similar in mnay ways as well. i was wondering if i take a payment holiday for 6 months (which is the longest i can take at once) then pay a lump sum off would it be better for me as…
Best offset advice? Or stay with HSBC?
Hi, hope someone here will point me in the right direction please? My heads hurting trying to do the sums myself! We have an interest only £48600 mortgage with HSBC which is split: £16000 at BoE +.7% so currently 1.2% about £16 a month £42600 at BoE + 2.74% currently 3.24% about £115 a month We're currently paying the just…
self cert mortgage
Hi, I am unable to 'port' my current offset mortgage, as the coventry now want proof of earnings, which I can not prove. Is anyone aware of an alternative self cert product, with a reasonable rate. I need 65% ltv and want to buy for £280,000. Many thanks.
How much to overpay by???
Like so many on here I'm hoping to reduce the term of my mortgage by overpaying. Unfortunately I only took my mortgage out just under 2 years ago over a 35 year period :eek: so it's going to be a loooooong way off yet :rolleyes: My fixed rate is ending in May so my mortgage payments will actually drop from £579.64 to…
Nationwide - Daily Interest
Dear MoneySaving Experts. Can I check with you about the way the interest is calculated on my mortgage. I'm with the Nationwide, and they have daily interest, which I always thought was a good thing. However, I've recently been keeping a closer eye on my mortgage account. This was because when I logged into my mortgage…
Interest Rates
Hi All What do we all think of the interest rates when they go up what do we reckon they will go up to ? im particulary worried about this as my fixed deal ends in 15 months and im scared the interest rates are going to be sky high
mortgage payments if partner dies
if you're sharing a mortgage, what generally happens if your partner dies?
Some advice please if possible!!!
Dear All, Hope everyone is well! I have a Nationwide Lifetime tracker Repayment Mortgage which is in 2 parts.The mortgage is due to be paid off in 2032. I am paying 0.89% on the lower balance, and 0.74% on the higher balance part of mortgage. The total outstanding balance is roughly £86K.I have had the mortgage for about…

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