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Help TPA in a panic re letter from Barclays!
Help! I have heard rumours about Barclays changing their mortgage rates but didn't think it would effect me. We are on a Tracker Offset, set up as base rate plus 0.59%, meaning we currently pay 1.09% (very nice). However today we have received a letter from Barclays quoting our account number and saying it is altering its…
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2010 Resolutions - My Crafty Diary
My husband and I are currently overpaying an extra £400 a month on our £125k mortgage in order to try and clear it off early. As I am a stay at home mum of two who currently earns £0 this money comes from my husband who has a well paid job but I have decided that in 2010 I want to be able to pay off a lump sum towards the…
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Done it!!!!!!
Yesterday was a significant milestone for me.... I have had a Virgin One Current Account Mortgage for the last decade (160k), been chipping away at it very aggressivley for some time -. The objective had always been to clear it before I was 40 (I am 35). Began the year with 28k to go. Yesterday. My balance went positive. I…
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£161,044.25 reasons to be mortgage free
Hello everyone As the title suggests out mortgage is a staggering £161,044.25:eek:. More worrying is the fact that we are almost certainly in negative equity. I am ashamed to say that we were part of the " lets release some equity in our house and go on a great holiday, buy nice clothes..etc" club, because we " deserve…
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Way-hey!! I'm now a home-owner again!!!
Wow!!:j We've finally got our own wee hoosie and I've been in for 3 weeks!!!!:beer: Having got advice from you lot previoulsy, the first plan is to save up for that illustrious emergency fund for when things may go t*!s up. It will be the equivalent of three months salary for me and when fiance moves in (he's still got to…
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The Happy Christmas & Have a Great New Year Thread
Hope you all have a great Christmas and New Year and a brilliant MF 2010. Best Wishes SMF2
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How much do you allow yourselves for 'personal spends?'
Hello everyone, anyone that has every read my MFW thread will know i'm uterly bonkers:D. I am trying to work out a reasonable budget for next year, how much do you all allow yourselves for personal spends per month??? What do you include in these spends?? Mobile phone, clothes, eating out etc??:confused: How much do you…
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Changing the term of Nationwide mortgage
Hello I'm after some advice from those in the know about Nationwide mortgages please :) We currently overpay by the allowed £500 per month (in the fixed rate period still). We save money alongside this with the intention of adding this when the fixed rate is up and there is no cap on overpayments. I have read a post in…
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Overpayment question - Please help!
Hello, I would love some help please?! We have been overpaying by £500 per month for two years now & I can’t understand how it’s saving us interest? We pay £460 per month on the mortgage £140 gets deducted from the balance & the rest is interest & this is how it’s always been. For two years we have also been paying £500…
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Can I use equity in my spanish property to reduce uk deposit
I have equity in my spanish property,we are fully re mortgaged (on our UK property)when building the property in spain,with banks etc wanting a bigger deposit and you get a better interest rate was wondering if I can somehow use this equity to raise our deposit.
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Overpay or wait?
Evening, We are regular overpayers (£500 per month) but have just received a bonus of around £20,000 and looking to put it into our mortgage. we currently owe 165K on our house and mortgate is with nationwide on fix rate till august of 6.8%. :mad: if we overpay in a single hit we will get the penalty of 0.15 % so my…
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Bit Of Guidance Please.
First post. Started the year with a 66k capital and through an endownment paying up and hard saving it is now down to 51k. It will be paid off in the next three years by endownments paying out. Is it wise for me to continue to reduce the capital by over paying per month. I pay 1k every month which is about a £900…
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VERY first step - help needed!
Hi all Feel a bit daft putting this on mortgage free wannabe so early in the process, but... I'm currently on an interest only mortgage, fixed until August 2012. It's 85% LTV. My plan has always been to go onto a repayment mortgage when this fixed rate runs out. I had a conversation with a friend which has put the wind up…
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New mortgage, new wannabe
Hi all, thought I'd start one of these. I am just about to take out my first mortgage - £57,024 (the odd numbers are for fees etc.). I'm on a seven year fixed at 5.99% (I'm the only one working, contract ends soon, so while I should be fine, I'm really very happy to have all that security) with a 30 year term, which allows…
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Cars & Mortgage free quest?
Hello everyone, As we are all trying to save money to become Mortgage free ASAP I am interested in your thoughts on owning, purchasing cars and how this effects your Mortgage free quest? This is my view below on some of the different options. 1. Buy new - outright cash! Pro's New car, reliable , hassle free motoring up to…
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Windfall advice please :)...
Hi guys I know there are a lot of experienced MFWers on here so thought I would pick your brains if I could be allowed:). Currently my mortgage is just under £28k with just over 10yrs to run. Around April I'm due a bit of a windfall from work which could potentially wipe out just over half of this. I'm currently with the…
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to pay or not to pay??
hi!! only joined 30 seconds ago... i would like some advice i have a 25 year 72k mortgage, i am 5 months into it, already i want to start paying more, there is a 5% charge for doing this. let me give you a rough estimate of what i got going on income £1700 pcm outgoings £1200 pcm Savings to date £1000 (not in isa) can…
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Northern Rock Borrow Back Facility Change - Warning!
Hi All. I posted this on the mortgages forum, but it may affect some people on here too. Anyone who uses the borrow back facility & hoping to claim back all of the overpayments ought to read it & check they are still happy with the service.
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Overpayment 'Breaks'
Hello, Do you MFW's always try to overpay at least some money every month or do you knock it on the head for a few weeks if you are going on holiday for example? Just interested because since we started op'ing last June we haven't been away or had anything really expensive to pay out for, meaning we have always been able…
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£1000 doing almost nothing
This is in a fixed low rate halifax savings account. Would i be better off just over paying my mortgage? I have also about £25,000 in other savings accounts. I have thought of using some of this also to decrease my mortgage but decided against it, instead i opted to stop saving as much and overpay my mortgage by £350 a…