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My mortgage nightmare - where do I start?
Hello, I am after some positive advice please. After some very bad financial advise and personal choices I find myself with two mortgages. 1 - for my own home owing approx £140k (lifetime tracker A&L) 2- for a buy to let owing approx £108k (standard variable rate Northern Rock, house now in negative equity so have no way…
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Small op's worth it? Advice needed please!
Hi everyone! Serial lurker of this board here. Hope to join you all with my own diary soon. OH and i have just moved to our dream home. In order to secure this we took out a repayment mortgage for £233,750 over 35 years ( I know, I know!). It is fixed at 4.59% until end June 2012. We fully intend to start making large…
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Reduce term immediately or just over pay?
Quick question please. Is there a benefit to asking the bank to reduce the term straight away? If you overpay by £50 per month and have the term reduced to bring the monthly payment up, how does it work on the interest side? Or is it best to keep the term with lower payments and just over pay each month? I suppose it…
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Mortgage free in 100 payments
Hi - My mortgage is on interest only but for last 12 months been on 1.94% plus BR thus come down considerably. I havent been able to overpay up to now as had debt etc. My plan is to split the balance - 165K in to 100 repayments and carry on paying the interest part by DD Am going to ring up the mortgage company to make my…
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here we go again
i found this site 3 yrs ago and wanted to be mortgage free a.s.a.p. so took all martin's advice and went for it 100%. i had 20 years left and now i'm down to 1 yr 10 months but circumstances change and now i'm just about to buy another house with my partner and have used all savings on first mortgage to fund deposit for…
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Alliance & Leicester Interest Calc
Hi guys, Had my mortgage account statement for 01/01/2010 to 31/12/2010 and it says 01/01/2010 - Opening Balance £98553 (Various Payments) 31/12/2010 - Interest Added 4530.10 Assuming the interest gets added to my balance at the end of each year, is there any point in me overpaying each month or should i wait till each…
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Mortgage worry
Can someone offer any advice, my husband left me and my two kids(12 and 8) two weeks ago. I work part time, i get £1000 per month, child ben £134 per month, ctc/wtc £570 per month, £320 maintenance. We have £70000 mort with 9 years 4 months to run. The Bank seem hopeful that i can take over the mortgage, and i'm going in…
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...a room of my own!
Hi, MSEs! I'm not sure if we totally belong on this board, but it feels like the right place to be. We are (very temporarily) mortgage free....but only because we are also home free. Years ago a tiny one bed had been the only way to get onto the property ladder for the first time, after finding myself a single parent who’d…
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Joint names on morgages wife on DMP
Hi. Just a brief outline. Our fixed term morgage came to an end Oct last year, and since then is at the banks variable rate. Its not a huge mortage , 27k with 7 years left to pay, the house is in both names but is paid out of my account. Wife is into her 2nd year of a DMP with around 55k of debts ( long story, i didnt know…
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the boredom factor
hi All can any of you tell me how to get over the tedium of working in not one but 2 dead end jobs just to clear my mortgage? this is what is has come too and I am fed up,not noticed any other grumpy overpayers on here,maybe it's just me:p
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Mortgage Free - at last!
Hi all, Yesterday me 'n the wife paid off our mortgage in full............exciting yes, but compared to some of you guys I know we had it easy. Explain:- Having switched to an offset mortgage thanks to advice picked up via this forum we kicked off our quest with about 69k left to pay on our main house's mortgage. We were…
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A blissful home - mortgage_girl's MF diary
After lurking around this board for the past 4 years I decided that it was time to take the bull by the horns and start my own diary. A bit about me, I have a mortgage of just over £82,000 with a current term of 19 years. I live on my own, with the exception of a sleepy snugglepuss :) , and work full time. I have recently…
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Making the last mortgage payment, how to do it?
Hello, I'm in the fantastic position of my years of overpayments having had an effect :) I'm now down to £5,000 on my mortgage which I will be paying off hopefully next week as I'm expecting some money in. So my question is, what do I need to do? my normal mortgage payment comes out on the 1st of the month automatically,…
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What should we do??
Hi everyone :D well hubby and i are starting to make good changes but im now worried the money we save will whittle away and im in two minds as to what to do. We know we cant save to save our lives we have literally nothing in savingas and an overdraft of £2.5k which we will pay off here and there but its £1 a day to be in…
