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Should i clear mortgage
Hello everyone. Have a two-part mortgage from a move 11 years ago and have built up almost 18k of an overpayment reserve. I still owe 6k on one mortgage and 13k on the other, and was thinking maybe i should juggle the reserve about and clear the lower of the two mortgages and am just wondering would this make sense or…
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looking for advice
Have endowment due to mature in two years have statment saying it is worth £18500 at this time.Have £ 18000 outstanding on interest only,owe £7000 in capital&interestwhich we are paying £700. monthly do you think it would be a good idea to cash endowment and put it toward the interest only and just run with the remainder…
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MFW by 40!
Hi all, I've been lurking around here for a while contemplating overpaying on the mortgage. I've had a busy year - got the house Aug '10, got engaged Jan '11 and got married last month! Now everything is settling down and I haven't got the wedding to focus on, I'm hoping to start my journey to being mortgage free. I've put…
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What do I do now?
Sorry, I've searched but didn't really find the answers... I've got about £700 left on my interest-only mortgage. I'd like to pay this off in the next month or so :j But how do I go about it? I guess I have to ask the mortgage provider (Nationwide) for a settlement figure on a given date? What else do I need to ask for…
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Mortgage issues
Hi, After almost 1 year of unemployment my mortgage payment insurance is going to run out now. I am receiving mortgage interest from the DWP however I am still almost £900 short each month on a 95% mortgage. My wife is is due to give birth to our 3rd child in 6 weeks time. Its been difficult to find employment after 6…
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O/P on loan 2 with higher interest rate?
Finally going to start making O/P but not sure which loan to pay off first as I have 2 loans on a repayment mortgage Loan 1 £20K 4.24% (SVR) Term 8 years monthly payment £276 Maximum O/P can be made Loan 2 £37K 6.24% (fixed rate ends June this year) Term 22 years monthly payment £263 10% O/P only I'm hoping to make O/P to…
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RS Clio's Mortgage free dream
Hi all, Been a lurker on this site for some time now but recently started posting so I thought I should start a diary too, as it seems to help people focus and stay motivated. I guess i'll give some history: Took out our Mortgage in 2006 for £110k, and am now on our third fixed rate term. Unfortunately it's not a great…
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would love to be mortgage free!
Hi all, having read a few diaries I'd love to start my own, if that's ok! I tried to do a SOA but finding it a bit tough as many things are changing in the next 3 months and we pay some things outright instead of monthly (eg bike ins). I have a spreadsheet for monthly incomings and outgoings which I have maintained…
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Diary of a rambling shopaholic
Well did start a diary but that got backtracked due to various reasons. Have now been living here 4 months and its safe to say its not the forever house we planned it to be, so ideally looking at moving in the next 5 - 6 years. Unsure as what to do re the mortgage though as we took out an 89K mortgage on a 5 year fix…
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I want to be debt free before I am 40
After 29 years, 10 months and 3 weeks I have just brought a 2 bed flat, I moved my stuff today from my rented accommodation (My entire worldly possessions fit into a VW Golf). I want to be mortgage free before I am 40. Get ready for the diary.
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self build morgage
hi i wonder if anyone could help me please, i am currently in the prossess of buying a plot of land in scotland which i was hoping to build a house to sell on, unfortunitly all the money i have is going into buying this plot as unluckly for me no one has a croft they wana give me for free :) heres the catch, yesterday i…
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Just made the first step!
Well we've finally done it. This morning I have setup a regular payment for over-payments to our mortgage. £7 a week, not a lot I know but It all helps I suppose. We have a mortgage of just under £72000 remaining, I could possibly add a little bit more to the over-payments each month but we get married next year so need to…
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lawless? firm
A no win no fee company i used failed to reclaim ppi on my bhalf.I did n got refund through ombudsman.Now they want i share and i said no.They have instructed a law firm to take me to court etc and i am counter suing.then i received i letter from them informing me that a judgement has been entered against me and if i do…
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Mortgage Free in 5 years?
Maybe! Hi everyone. I have been really inspired of late in particular reading diaries on here. I was a member of the DFW boards a long while ago (I haven't posted in years, so had to get myself a new logon tonight). I left Uni with a lot of debt, but paid it back and then got a mortgage! Since about 2 months after buying I…
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nationwide mortgages
Just a thought - I am with the Nationwide and trying to over pay each month. My fixed rate is due to finish april 2013. Could they be persuaded to let me restart another fixed deal for 5 years now without an encurring ERC? Just wondering how flexible they are? Any experiences? :)
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Leeds Building Society
Hi, I was just wondering if anyone has any experience overpaying on a Leeds BS mortgage? I want to start making over-payments but just not sure how it will work, can I send electronic payments from my current account or send a cheque?
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Paying of mortgage - reduce interest or reduce term?
I have just paid in a fairly substantial cash sum into my mortgage (Approx 20% of the outstanding sum). However, I am baffled by the choice offered me to reduce monthly payments or reduce the term. Most advice online indicates that both will happen, but with Nationwide you have to choose one or the other. A slight…
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Confused - overpayments, reducing term - best way?
Hi, After speaking to my provider I've just found out that my overpayments are restricted to a minimun of £500, and if they're capital payments (to reduce the term) then it needs to reduce the term by at least 3 months.. or the monthly payment amounts will go up slightly to accomodate the short fall. With that in mind, how…
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Should I pay off my mortgage? Discussion area
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How to Overpay
I apoogise that this is a very silly question! Readin gthis page http://www.nationwide.co.uk/mortgages/existingcustomers/overpayments.htm do you agree that I can overpay from any bank account so long as I use the details provided: Sort code: 070094 Account number: 44444445 Reference number: Your mortgage account number
