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Mortgage overpayment tracker
Hi, I have a mortgage with NatWest in two parts. 1st part fixed ended in March 2024 2nd part fixed ended in Jan 2025. Is there a spreadsheet or app I can track mortgage balances and overpayments. Basically it shows two parts, payment amounts, interest, overpayment amount and breakdown until the balance is fully cleared.…
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Over paying mortgage or investing?
Hi guys just wanted some advice on overpaying my mortgage every month. I’ve currently got a 5 year fix mortgage at 1.44% (this was over a year ago I took this out). I am weighing up my options and would I be better off in terms of growth putting my money into index funds or to continue over paying over the 5 years?
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Early Thirties Mortgage Free Goal
Hi all. Been reading people's diaries on here about their path to being mortage free, so I thought I'd start my own. Bought a house with my wife last year. We're both in our mid twenties. £165k mortgage on a 4 bed house. Aiming to pay it off before I'm 33. Hit the max overpayment limit this year and aim to do this each…
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Lump sum at end of calendar year or drip feed through the year?
Just wanted to get some thoughts. I think a number of people are in the situation where they have a fixed mortgage deal in place where the rate is lower than the current interest rates offered on accounts. My current mortgage rate is 2.64% and I can get 3.21% from Zopa for example. I can overpay 10% with penalty/charge per…
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Its fully paid I cant believe we did it, 4 Years 7 months and 1 week from move in day. Mortgage Free
Hi Guys/Girls, Myself (40) and my other half (47) purchased our first house in the UK in July of this year for a purchase price of 145,000. We paid a 30,000 deposit and took mortgage over 15 years with initial 2 year fixed payments. We emigrated to the UK in October 2014 with empty pockets and too many suitcases and came…
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Re starting my journey to an eventual debt free and frugal life
SO this is the third time I have attempted to hold myself to account and do something about our debt:eek:. Also the last 12 mths have been pretty bad and have made me reassess things in my life. Long story short, my mum passed away suddenly Dec 18, long delay for funeral late Jan 19, then I had her flat to sell (brother…
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Help on overpayments please to be mortgage free asap
Hi there, I’d like to overpay my mortgage by the maximum allowed but I don’t understand the wording. If I can OVERPAY 10% does that mean I can pay 10% over and above my agreed mortgage payments please?
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How to secure future when live in employment accommodation
Hello, Looking for advice. My husband is very lucky to get rent free accommodation included with his job. We have lived here 18 years. We have been sensible and been saving monthly since we moved in. We are now 40 and would like to spend the next 25 years (or less if possible) getting us to a position where we can own our…
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Mortgage Free Sooner rather than later
Hi, I’m pretty new to these boards but have been reading through lots of threads and posts for idea’s and inspiration. I recently came across a mortgage statement that got me thinking ‘should/could we pay it off earlier?!’ We’ve been paying a mortgage for 13 years but have moved 3 times up the ladder. We’ve had our current…
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Early settlement offer by offset mortgage provider?
Apologies if this has been discussed before. I think it has however my search skills are lacking today. I have a First Direct offset mortgage at BoE rate +1.88%. The term is 25 years and I have 14 years left to pay it. The loan was for £151K and I'm a couple of months away from being able to bring it down to zero (have…
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Can we? Should we? Courgette gets plotting (again)
Hello! I’ve been intending to start a new diary on here for a little while now but haven’t been able to get past writing the first post which is usually a bit of a longer affair. I’ve decide to allow myself the luxury of not doing that and just cracking on. Specifically two things have happened recently that have focused…
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Overpayments
Seen information about overpaying on a variable rate Mortgage daily to avoid the interest charge on the monthly direct debit payment that’s made, is this even a thing in the UK?
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Overpayments to shorten the mortgage lenght
Dear MoneySavers, My fixed rate with YBS is going up from 1.84% to 5.01% in a month. I have an outstanding balance of 75,900 (LTV 24%) and 11y of remaing term. I am thinking to do some overpayments (either lump sums or regular or both) to try to reduce the length. I read the MSE guide "Should I overpay my mortgage?" and…
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HM Land Registry Documents Deeds Query
Hello, Downloaded the Deeds from HM Land Registry for a Freehold House. Shows 2 registered owners who are not in any relationship with each other. Under Section B of the Deeds Titled Proprietorship Register it shows the following: RESTRICTION: No disposition by a sole proprietor of the registered estate (except a trust…
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Birmingham Midshires - paying mortgage off
Hello. My husband and I will be in a position at the end of this month to pay off our variable rate mortgage. Looking for advice on the most cost effective way to do this. Is it better to just request a settlement figure and pay it? As of November 2022 we owed around £41,000 and are paying £670 per month. Any suggestions…
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Morgage free or not
Hello Hoping to sell up and become mortgage free in the next six months we are very lucky that we have decent equity in our property and will be able to stay in our local area although will be taking on a big project we are tied into our mortgage until end of 2025 with an interest rate of 1.5% and a mortgage of £420k with…
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Spend Free Twenty Twenty Three!
I am now thankfully in a position where I am able to overpay on our mortgage, and even better, the other half is also onboard! We have just shy of a year before we have to remortgage (In Sept) so I want to be able to throw as much as we can on as overpayments between now and then. Hopefully we will be in a better position…
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To Port or not To Port
Hi MSE forum, I am considering moving home and downsizing. I have potential for a balance of around £75000 after sale of my current property and buying a new one. My question is, do all funds from the sale go to your existing mortgage account and thus pay it off? I’m in a five year fixed deal so would like to avoid EPC of…
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Advice needed with regards to best way to reduce mortgage debt
Hi all, some advice please. We have approax 43k left to pay on our mortgage and our current deal expires next month. We are in a position where we could just about pay it all off, but then it would leave us with no emergency funds. I'm now thinking to take out a new deal but with a mortgage of 20k. If i do this, will i…
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Overpaying mortgage direct debit reduction by lender
Hi, I have a capital and interest mortgage and this month I’ve started as I mean to go on and paid an extra £300 off my mortgage capital, in addition to the fixed direct debit that goes out every month. (I checked and I can pay some 10% extra per year off the outstanding mortgage so I’m well within the repayment limits). I…
