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Overpayments - which sub-account?
Hi, I don't venture over here much so my apologies if this has been asked before or it the answer is obvious to the regular posters here. My mortgage consists of two sub-accounts and the bank says I must nominate one or the other to make my overpayments to. Both are at the same interest rate but one has a much bigger…
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Frustration - silly really
Just feel I want to express my frustration - and this seems the place to do it :cool: I'm just starting to think about being MF, can probably do it in 5 years - so I want to start overpaying my mortgage. The problem is I can get a much better interest rate on savings at the moment than the rate on my mortgage (4% versus…
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What to do for the best: Overpay mortgage or keep in savings?
Hi Forumers, To put it simply, over a few years I have scraped together some money in ISAs and premium bonds but I also have the following debts: - large mortgage - student loan I have the nagging feeling that I could be using this money more effectively. Is there anything more useful than overpaying the mortgage?
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Mortgage busting - best internet accounts?
Having taken inspiration from this board (many thanks!) I have decided to have a real good go at busting my mortgage, especially as we will be casting aside the constraints of 2 NW fixed deals end of Aug / Sept respectively. I have two objectives post-expiry - one to consolidate the 3 mortages I have with NW at the moment…
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New mortgage and overpayments
Hi guys, Sorry if this has been asked to death, but we just recently completed on our first home, and I would like to overpay on the mortgage, but after some advice first. The mortgage gets paid through my partner's bank account, but I would like to pay about £50pm on top of the monthly repayment. Ive been advised to set…
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Keeping your mortgage going
Hi all, Im very pleased to say that I only have 6 payments left on my fully flexible mortgage. Ive heard people say that you should keep your mortgage running with a very small amount left to owe. That way you can always borrow through it if needs be and take advatage of lower rates than loans and avoid set up costs. What…
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Overpay instead of save?
Hi, I currently save £100 per month in a regular saver account in my DD name, when i took this out it was 10% interest however i can't find the interest on the website any more. It has just matured for the year and i got £34 interest (and some pennnies can't remember what). Would i be better off paying this money off our…
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Overpayments - Projecting Balance
Hi Just a quick question I have used jeacle to project what my mortgage balance will be in 2 years based on my current interest rate (fixed). I now want to know what the balance would be in 2 years if I were to over pay £100 per month. Is it as simple as 24 x £100 to be subtracted from the balance I got from jeacle? Thanks
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I am Mortgage Free!O
Ok.. now Ihave done it!:beer: Life is better without that chain around my neck. Maybe you would like to know how I did it then take a look: http://hubpages.com/hub/Mortgage-Reduction-How-To-Pay-Mortgage-Early I have other related articles that might help you too... it is a matter of attitude! :T:T
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Happy birthday tpa!!!!!!!!
Folks, it's our illustrious leader's birthday today so let's all join forces to say HAPPY BIRTHDAY TPA!!!!!!! :bdaycake::bdaycake::bdaycake::bdaycake::bdaycake:
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Can I Join In???
I sooo am a MFW and until a few years ago things were on track, 7 years ago met my OH, a year later we both sold our houses and bought one together, with a offset mortgage of 35k over a ten year term, we borrowed a few grand here and there for home improvements and then last year OH took a huge 30K to help his business…
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D'oh! Better get started... I wanna be Mortgage Free!!
Hello all! Hope you won't mind me starting a new thread... Just a bit of background, I am 30 and my OH is 33, we live in a 3 bed semi just outside Manchester, and we've lived there for the last 3.5 years... We have a Together mortgage from Northern Rock, 152K made up of mortgage part, and an unsecured loan... As at the end…
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staff mortgage Vs Offset mortgage??
Hi, I want to pay off my mortgage in the shortest time possible without using my savings and would like some advice from you all. I currently work for a bank and have a staff mortgage which tracks the base rate, so currently 0.5%, plus the government cut for benefit in kind. I have £53k outstanding with 16 years left on my…
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MF - Getting started
Hi there I will give you a little background about my situation ... & have a few areas where some help / advice would be welcomed! I have spent the last couple of years trying to take control of our finances, which were in a right old mess to be quite honest - after a few bad decisions / wrong turns & just not paying…
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why did you decide to become MF?
this may sounds like a stupid question with an obvious answer! :p but was just wondering what people's motivations have been to become MF? for me, it is being able to have the financial security of owning my home outright, knowing no one can take it away from me and I will always have somewhere to live; not having to worry…
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Hitting 75% LTV
Hi, New to this forum after posting in the general Mortgages/Endowments forum a few times. Although I obviously want to be mortgage free, my immediate target is to get below 75% LTV so that I have access to the best deals when it's remortgage time. In September 07 we moved house and had our first child, which required both…
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Mortgage free?
Right, wondering if anyone can give me advice. I think I know the answer but am confused....right, we have the chance to get rid of our mortgage but an advisor (within a bank) has said we shouldn't 'put all our eggs in one basket' (we currently own outright where we are currently living) and have another property that we…
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Mortgage Free by 40?
Hi, This is my first MFW post so be gentle ;) ! I bought a house last year (jointly with the nice people at Nationwide BS) :) My original plan was to be Mortgage Free at 50 so I could start to think about winding down early and working part-time before retirement. I borrowed £90k on a £140K property. Currently paying just…
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overpaying question
Hi guys i have decided to start overpayin on my mortgage. i currently pay £567 on direct debit - this is a SVR mortgage of 5.2% i contacted the company about overpaying and they told me it is better to write to them to increase my direct debit payments. im going to do this and increase it by £53, taking me to £620 a month.…
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Should we pay off mortgage with early retirement funds or re-invest
My husband has been offered early retirement we also have one of our two endowments maturing in September we don't know if we should use all funds to pay off mortgage or re-inbvest into another property. The funds we have should be about £125.000.