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Nationwide - Not so flexible features
Just had a crazy conversation with Nationwide after they ignored my numerous secure messages via Internet Banking for the past 3 months. Basically I have a flexible lifetime tracker that allows up to £500 overpayments per month with no fee. So I'm overpaying the mortgage £500 every month so that I can build up a reserve to…
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unsecured loan paid along with mortgage.
Hi this is my first time posting although i have vistited the forum many times and been inspired by you all. I have a mortage which i also pay a unsecured loan along with the mortgage payment and loan are both for the same term, rate and currently on a 5 year fixed rate with 4 years left to pay at 6.85% (arrrgh :mad:) I…
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new mfw
After much reading, I've decided to join you. However, my mortgage feels extremely high at £241,000. It's an interest only mortgage which I can pay overpayments on from June without incurring any penalties. It's fixed at the moment but will become a tracker as of June. To begin with I have increased my mortgage repayment…
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should i become a mfw??
I am currently a dfw but have been looking at this board for next year - fingers crossed!! The house i live in is very nice and could be a family home. It's the second house I have lived in but i do not see it as my forever home. Should I try to pay off the mortgage knowing that in four/five years I would like to buy a…
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Overpaying Advice
Hi everyone, I have a split fixed rate mortgage, both bits are the same rate, 65,000 on repayment 100,000 on interest only We can now afford to overpay by £300 per month. Which bit do i make the overpayment on? repayment or interest ? I know this probably sounds a bit thick, but I'm clueless! Thanks
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would like to be mortgage free in 7 years
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fixed rate or tracker
i am just about to change from svr with halifax to either a 3/4 yr fixed rate of 4.3 or a tracker rate which is currently 2.54% above boe rate, does anyone have any thoughts on what is best, obviously the tracker rate is lower but not sure how long rates will stay this low, i know its a gamble but was just looking for a…
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Overpayment Question Help Required Please.
Hello there guys/gals Quick question if i may i have jsut rang up my mortgage provider and got some figures i owe. Part 1 56,431,05 Part 2 29,117,06 I can overpay Part 1 by 99.9% and Part 2 by only 10% per year i going to start overpaying £850 pm but what part should i overpay first or does it not matter ? Sorry if a silly…
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When to Overpay
Hi guys Im with Northern Rock until april 2010 and wanting to overpay so i can hopefully get a decent rate when renewing. Just wondering when's the best time to make an overpayment on my mortgage?? If My interest gets calculated daily does it not matter when i make the payment?? Thanks Guys
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Overpayment confusing
Hi all, I am trying to work out how much of my mortgage I can pay off in the next 12 months using overpayments. Ive tried using the overpayment calculators, but Im getting a bit stuck because the amount I can overpay goes up in august. I have a mortgage of £44,000 at 5.39% so thats £296 pm I overpay by £480 so that £776pm…
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How do I make overpayments?
Hi everyone, As of Friday, I have a mortgage of approx 90'000. I plan on making O/P as much as possible although I am limited to 10%. My mortgage is with Nationwide and is fixed for 3 years. How do I make o/p's? Do i just go into the branch and ask to overpay or write a cheque and send it off? or is there another way? What…
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Shall i save or pay off my mortgage?
I currently have a fixed rate mortgage 6.19% this rate ends April 2011. At present there is a balance of £18,397.50 to pay. My original intention was to save and pay this off in 2 years time however I am now in a position of paying this off early with my savings. The redemption fee to pay off the mortgage early is £633.00…
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Help needed!
Hello all, I could do with some assistance in my calculations. I need to remortgage in June. I have been offered a 5 yr fix at 4.19 or a 10 year fix at 4.89. Current mortgage balance is 63170 fixed at 5.19 and I overpay £100 a month at the moment. Current length of mortgage is around 19 years. OK here goes. : Unless my…
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"real" overpayment spreadsheets
Now our new mortgage is in place I want to start tracking it accurately in a spreadsheet.(to the penny if poss). I've played with lots of overpayment spreadsheets which are great for seeing the effect of theoretical overpayments, but now I need something a little more accurate and comprehensive. Basically I need something…
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Wanting to pay interest only mortgage
Hi looking for some advice for my brother who is not on the internet, He took out interest only mortgage 5 years ago, although he knows his credit record is shot and he would not currently be able to remortgage due to negative equity, he is wanting to pay back the loan now is it possible for him to do this? The mortgage he…
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Which mortgage to overpay?
Hi all, new to the forum and after some advice re. mortgage overpayment. I have two mortgages with the Nationwide, one a tracker and the other (a "further advance") on fixed rate. The latter is the larger of the two and, while I don't have the figures to hand, it was arranged "when times were good" so the interest rate…
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Can I have some help with some Maths please
We owe 100k on our mortgage fixed for another 4.5 years at 5.99%:eek: I can over pay this 10% a year with no fees I have 10k in savings. 3k of it is in a ISA and I havent used my ISA allownce at at for this year I am not a tax payer. I phoned my mortgage compnay who told me if I paid them the 10k my payments would fall…
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Pay off mortgage or put money into a bond?
I have a mortgage of £131k on a B-T-L, if I pay off the mortgage there is an early redemption charge of around 6k, would I be better off paying off this mortgage or putting the £137k into a one year fixed rate bond paying under 3.8%. The property with the mortgage is on a 5 year fixed with the Abbey at 5%.
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Homeowners continue to Cut Debt
Homeowners continue to cut debt http://news.bbc.co.uk/1/hi/business/7976111.stm "A further £8bn of mortgage borrowing was paid off between October and December, the Bank said. " Yay:T We're part of that :money:
