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Should I pay off my mortgage??
This is my first post, so please be gentle with me. My outstanding mortgage currently stands at £20k and, in the new year, I will be given a lump sum to pay it off. Now my question is, should I pay it off? My mortgage interest rate is 0.73%, yes 0.73% (I agree, it's a brilliant rate). So I was thinking, should I invest the…
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Advice with paying lump some off mortgage or investing?
Hi all... new to forums so be gentle :) We have an outstanding mortgage balance of 83k and have the option to pay off 10% per calendar year. Have just rung them and we can pay 8.5k off the balance. This would bring our monthly payments down by £57 a month on the remaining 15.9 years. My question is this... would the 8.5k…
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Newbie, advice needed to be a MFW
Good evening I have a 6400 mortgage with a 20 year term,19 remaining. I am on a 5 year fixed rate , monthly payments 400. I have overpaid 250 each month since the start . According to the over payment calculator on here , if I continue to over pay, my mortgage will be paid off in approximately 10 years, half the term. Is…
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I am better off saving than paying mortgage???
Hi I think the answer is obvious but can someone see if maybe I have it wrong. I am in a slightly unusual position but see what you think. I have a OFFSET mortgage of £73000 which finishes in 2020. I have virtually no normal income as I invest within ISA's and savings accounts, and do not make enough to pay tax, therefore…
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I WILL be mortgage free by 50!
Hi everyone :) I thought I would introduce myself as I've been a wannabe MFW - WMFW? - for ages but I've never felt qualified to contribute (being a DFW till just recently) Anyhow, all that has changed as I'm now officially debt free :D Well, apart from the mortgage and HUGE secured loan that is :o so not really debt free…
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help with maths - addidional borrowing
hello all, my first post on here with a view to becomming less financially clueless! unfortunately sums are not my strong point so I am finding this hard. my dilema is this: should i borrow extra on my buy to let mortgage to reduce the balance on my residential mortgage (as i can claim tax relief on BTL mortage interest)…
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Should we pay off our mortgage.
We have a mortgage with the Woolwich at present. We are in a fixed rate of 5.28% until 2017. We still owe around £95000 but at the beginning of next year we are hoping to have enough to pay this off. If we do this we would have to pay a early redemption of around £6000 on top of the £95000. What i want to know is would it…
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What to do?????
Hi all, Just looking for advice please! I have 2 mortgages, 1st property i have got rented out @£600 pcm with my cost at £360. Left to pay is 40k over 9 years or so. House valued @ 160k ish. It is rented to a family friend so the property is well looked after. Don't think I would like to sell it yet as it is in a good area…
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anyone heard of John Schepcoff
A colleague has been waxing lyrical about this guy and wants to know if he is genuine and can his "clear your mortgage" claims can work in the UK
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Wrong forum section, sorry!
Wrong forum section, sorry!
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Almost mortgage-free! What now?
My DH and I are in the very fortunate position of being almost mortgage-free. Hopefully by the end of the month we will have enough to pay off the last bit :T So, a question for those who have already done so......... what exactly do we do now? The mortgage is with Santander and they said that we have to pay £99 for all…
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Query from a newbie
Hi everyone, I've been reading and getting very inspired by your diaries and am now thinking of beginning the MFW journey myself. I just had a quick question - when I play around with figures in the overpayment calculator it shows that I'm better off to pay a regular annual overpayment rather than a regular monthly…
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Nearly There
Folks, I'm 42 years old with wife plus 2 kids and a typical mortage that was taken out 8 years ago for 125k for a house in London. My wife does not work and is a housewife but with determination and careful eye on expenses my mortgage has been cut to a measly 1200k. The journey was hard i did it in 8 years, I work in IT…
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what are you going do with spare money after mortgage is paid off ?
Hi hoping to be mortgage free in a few years ? not sure what to do with spare money, what is your plans for your spare money after you have paid for your mortgage..
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Paying more than 5.4%? Borrowing money might save you money!
Saisbury's has a personal loan rate of 5.4% on loans between £7,500 and £15,000. If your mortgage rate is higher than this you can save money by borrowing, using the money to overpay on your mortgage, then putting the saved mortgage payment amounts and extra money to work to clear the personal loan. You need extra money…
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Mortgage free , now another mortgage
Was Finally Mortgage Free Last year, So I'm thinking of purchase another property. Possibly as a long term investment for a pension and pass to the kids. I can afford the payments and may try renting out to get the Mortgage paid. Good idea or not... ?
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Permissory notes - scam?
Maybe a stupid question but I presume this is a scam? http://www.gumtree.com/p/flats-houses/how-to-pay-off-your-mortgage-free-and-clear-in-6-months-introductory-sessions/1002775058 anyone heard of it?
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How to Calculate Mortgage Amortization for Free
How to Calculate Mortgage Amortization for Free？
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Remortgaging equity
Hello I have just inherited my Nan's house as a residuary gift. I have to pay out a small sum to other benefactors and would probably look at trying to raise 50000 against the sum of the house (approx. 130000) does anyone have any tips about what type of mortgage/where I should look in particular please? Thanks in advance
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Calling MFW 2012 Challengers!!!
Hello, :hello: I have been updating the MFW 2012 challenge throughout the year and we have had fantastic regular participation. :T We do have some challengers who have logged their OPs early on but haven't visited in recent months. If you joined the challenge and have made OPs through the year, please would you post an…
