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no more OP for a while, selling other house.
Hi, our situation has changed since I last posted. Bit of a long story sorry. Due to my DH being on the sick at the moment awaiting surgery we had decided to bank the OP money in case he is off longer than 6 months when his pay would drop to half. This has made us think about our long term financial security if for any…
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Collect Direct UK
(EDIT - apologies, I don't know how I managed to post this in the wrong place, it was intended for debt free rather than mortgage free wannabe... mods please delete as I can't delete myself... I have reposted in the correct forum, cheers :confused: ) Hello all, As I'm sure you have guessed I am new to this site, I will be…
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Mortgage free by 40
Hi all im just starting out on the Journey to becoming mortgage free and have been really inspired by the diaries i've read on here especially setmefree's. Im 26 years old and in 2006 I bought a house at the peak of the market with my ex fiance for 128,000 unfortunately we broke up because she couldnt settle in leeds (im…
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Fixed Rate Period Over
My fixed rate period with Abbey has now finished. Now that I am not tied into any deal can I simply ring up Abbey and pay off extra amounts using my debit card?
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Overpaying Mortgage ...
Hi there, We have just managed to reduce our £107K IO mortgage to £70K by paying off the difference using some redundancy money. The next stage is to overpay but I'm a bit confused - is it best to overpay on a monthly basis or save up to pay off a lump sum annually? :confused: Our mortgage allows unlimited overpayments and…
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Home Buying Problem!!!
People I need some advice! I currently have my own house but I am looking to move in with my girlfriend very shortly - PROBLEM - My house is worth approx £10k less that what I owe on it! ARGHHH!!! What should I do? I was thinking of keeping my house (which is too small for us both to live in) and giving her some money to…
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Best mortgage to Overpay
Hi guys, I'm currently with the Progressive Building Society and the only allow me to overpay by a maximum of 10% each year which doesn't give too much scope. Can you guys recommend a good mortgage that will let you overpay when and how much you want? Also one that has a reasonable interest rate and that wont screw you…
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Is it worth it?
Hi, This question is probably more aimed at successful MFWs. At the moment, I owe about £137k on my mortgage. I am on a tracker and so have benefited from the reduction in base rate. I have not only chosen to overpay my mortgage by this amount but also increased it by a further £100. The end result is that I'm currently…
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Is it worth it?
Hi, This question is probably more aimed at successful MFWs. At the moment, I owe about £137k on my mortgage. I am on a tracker and so have benefited from the reduction in base rate. I have not only chosen to overpay my mortgage by this amount but also increased it by a further £100. The end result is that I'm currently…
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What should I do? Advice sought please.
Hello everyone, My partner and I took out a mortgage with the Skipton Building Society in August 2006 at a 5 year fixed rate of 5.09%, mortgage taken was £117,500 over 25 years. Monthly mortgage payment is circa £695. I have a secure reasonably well paid job (circa £37k) and my partner earns circa £18k. I am fortunate to…
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Affect on life insurance...
What affect would mortgage overpayments have on decreasing term life insurance? Was reducing monthly payments but once i switched to decreasing term i received a letter warning me that decreasing the term would likely lead to complications with my life insurance. Anyone any experience of this? Also if i had 10k in an…
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help charge on house
Hi all after some advice I got divorced 7 years ago I instructed a solicitor to represent me after divorce settlement they sent me an invoice I disputed the amount they wanted,and eventually tried to arrange to pay in instalements but while this was on going I sold my house and moved to a new address I sent them this with…
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another question about overpaying
My morgage is an interest-only morgage instead of going back to a repayment morgage i am going to make overpayments on my interest-only . My question is sorry if this is a stupid question but when i start to make payments to pay off my capital will my payments for the interest part of the morgage come down ? I wondered if…
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Advice needed please
Hi Everyone, I've been in and out of the boards over the last six months but my wife and I have recently begun to really focus on paying off our mortgage so I hope I can join you guys. At the moment we have a C&G mortgage, 5.29%, balance 135,000 and the fixed deal ends next February. We have been overpaying it for some…
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Can I overpay?
Hi all I am with C+G for our mortgage, we only just got the mortgage (and already I want the term down lol) Our mortgage is for £99,400 and it is over 30 years, our first mortgage payment is due on May 5th 2009, and the rate is fixed for 5 years at 6.29% (best we could get with a 10% deposit) I just looked on the…
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making overpayments on interest-only morgage
I have an interest-only morgage if i make overpayments on it will the overpayments come straight off my balance ? I was going to go back to a repayment morgage but i would imagine that we would have to go through a morgage application and i know that because our incomes have greatly reduced over the last couple of years i…
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A little overpayments help please
Im having trouble with the overpayments calculator that is in the sticky post as mainly its in dollars can nayone please give me a link to a uk one Also can anyone please tell me how to work out daily intrest on your mortgage? is there a site that can help do this?
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Mortgage Free in Oct '09 ? - advice needed re ELC
Hi all, My DH and I will (hopefully) be in a position come this October to be mortgage-free. :j We had a windfall in Oct ’08 but as savings rates were significantly higher than our mortgage at the time, we placed the money in two 1-year fixed rate bonds with the AA and Bradford & Bingley (£45k @ 7.21%/£15k @ 6.7%). DH is a…
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Just another MFW
Hello everyone, So this is where my journey began..... 6 months ago we purchased a property for 195.00 @ 6% fixed for 3 years (over 30 years). We paid a £20000 deposit when we purchased the property and the Monthly repayments are £1200, these seem to be very high at the moment not sustainable in the long term. MB Dec 08…
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Mortgage Free....long way to go!
Hi All, This is my first post on this forum...so hello! I was just reading through some of the posts on here, and it's such a good idea, although it appears that i have a long way to go compared to most people on here :( ! I'm on £217,500 mortgage!! Got it fixed at 3.69% for the next 2 years, so that should be a help, but…
