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Bit of help with options?
Hi, I am planning the mortgage potential pay-ff and have a couple of thoughts about how to do it and wonder what people might suggest as I am finding it a bit confusing. Basically, my wife and I SHOULD be able to pay off the mortgage in 2 and a bit years. We have an offset mortgage as we have always been able to save a wee…
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Go Lily Go - Paying off the mortgage
I have lurked around here for a bit and asked a few questions (thank you kind MSE peeps for your lovely help) and I am itching to start my diary. I am 33 and live with my boyfriend who is wonderful in many ways but not with money. He is trying bless him. We have been through financial hell together from day one of our 3…
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MFW Diary - Take 1!
Hello! Brand new, squeaky-clean newbie here, although I've been lurking for a while. A wee bit about myself: from Scotland, live with my partner (hubbie in '14) and had our mortgage since 2009. We are young 'uns(!) and as such don't earn much. My OH works in an industry that's not done well with the recession, he was down…
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Extra Mortgage Payments
Hello all, I have a little money put aside and have filled up my ISA allowance for this year. I have read the MSE guide to over-paying mortgage as this would make financial sense. However, we would like to move house (upgrade) in about four years' time and I wasn't sure how this works. Should I keep the extra money I save…
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To OP monthly or yearly
Hi - please can someone help me with my maths? I have a mortgage but due to difficulties getting it its in my Dads name. He forces me to OP it by £50 a month but now I am in a position to pay off between £300 and £500 a more a month. I want to OP monthly but my Dad says no I need to do it yearly. If I save the money each…
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Want to over pay on abbey mortgage
Hi all Want to start overpaying monthly on abbey mortgage we are currently on svr after trying to fix but getting refused by a couple of mortgage companies after recent fraud on account! Sick of wasting money and want to really get this mortgage down, how do I go about it?
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Mortgage Free @ 40! That's the plan
My story. Bought my first property in 2003 Borrowed 60,532.00 over 25 years. Mortgage due to finish in 2028 After 3 years (when the fixed term ended) in 2006 I moved my mortgage to another provider. I was able to reduce the term by 3 years whilst paying provider 2 the same monthly payment provider 1 wanted because their…
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Mortgage advice- Limited company director
Hi experts, I am an IT contractor and work through my own limited company, where I am the director and sole shareholder of the company with 100% shareholding. My company was started on 25th June 2009(but started contracting/getting revenues only since end of October-2009). Apparently my company accounts runs from July to…
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overpayment-will it reduce term or monthly payment or both
Hello everyone, Our mortgage is 232999. We pay 4.49%...and the payment is £1293:eek:. At the moment i have started overpaying £300 monthly on regular basis via standing order on top of the £1293. When i set this up, the the bank said to me, there will be no changes to my monthly payment, as the overpayment is under £500,…
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Does anyone have a budget spreadsheet I can have?
Hi MFWs! Sorry if this has been asked a million times before. :o I did try a search but I could only find the MSE online planner but I would perfer to have an offline spreadsheet to be honest. Now that my overpayments are coming out of my account, it's important that I monitor the amount left in my current account each…
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Advice needed on mortgage overpayments
Hello Everyone, I am on a fixed rate mortgage at the moment and have started making overpayments of around £150 / month. Question is should I use this to pay of the interest I owe on the mortgage or make the extra payment as a capital repayment? Its currently set to pay the intrest of. I would be grateful of any advice.…
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Advice please - pay mortgage off or some/all debts?
Hi all, I am looking for some advice. Me and DH are in early 30's with one child. Due to a recent illness ( DH) our decreasing mortgage plan has paid out and we now have enough to clear our mortgage in full with a little left over (SEE SIG). However: 1. We can only pay off 10% per yr without incurring penalties. If we paid…
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Mortgage free wannabe!!!
First step to becoming mortgage free....starting a diary on here! I currently have a shared ownership mortgage on 30% of my property, which is £45750. I have about £15000 in savings which I received just after taking the mortgage out! So the plan is to pay off my yearly 10% in Dec 2012 - £4575 Then 10% in Jan 2013 - £4117…
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Capquest QR codes a new way to harass you?
Hi All, New to this and a little like my login name. Capquest "legal arm" letter had a QR code in the cellophane window. Suspect that if used will open a link? Retrieve phone number?? Seen lots on Capquest. I have a debt with Link Financial which I continue to honour and slowly recovering a debt with any advise on that…
