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Pass my mortgage to my Son.
Hi. Can someone advise me? I’m retiring this December. I still have a mortgage left to pay off over the next 4 years. One of my sons are living with me. My question is, is there anyway that my son could take over the remaining mortgage (£74k) over a longer period?? Regards, Mark.
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Which part to overpay?
Hi all, Recently did some additional borrowing for an extension. To be able to pass affordability, we had to extend the entire mortgage to 30 years. It was previously 19 years and ideally we want to get it back down to that. We can afford to overpay at present since the term is so long. I can’t figure out which part we…
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Shall I pay off husbands half of mortgage?
With the increasing interest rates I feel it would be wise for us to pay off our mortgage. We have £80,000 to pay. He is saying he only has £10,000 to put towards it. I can pay his side and thinking to get him to set up a direct debit to gradually pay me off. How can I protect my self if we were to split? (Good marriage…
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mortgage or not to mortgage
my mortgage is getting smaller...is it better to pay the mortgage each month and have less savings in the bank, or mortgage nearly paid off and have less actual savings ??? THANKS
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Getting a loan to use as overpayment
Hello everyone. I just want to ask some advice really. A little about my circumstances first. I'm currently making overpayments on my mortgage at just over two times my minimum payment. So in effect I'm making just over three minimum payments a month. My mortgage is a tracker as I'm paying over 10% a year as overpayment a…
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Our Journey of Mortgage Free and Simple Living
Hello everyone, I'm new to this forum and really enjoy reading the posts and have just started keeping a record of our journey. This afternoon I spent about two hours going through last year's spreadsheet, and realised that we spent £5221.88 more than the annual income. Ouch. We are a family of 3. My husband and I are both…
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MSE News: Barclays' top 10-year mortgage fix is now cheaper than any two-year deals
Homeowners have increasing reason to consider longer term mortgages over shorter deals, as the cost of borrowing grows. Currently, the interest rate on Barclays' cheapest 10-year fix is actually lower than any two-year fix – a very rare situation. However, you'll need a decent deposit or equity to get this top rate, plus…
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happihorse's journey to mortgage freedom and contentment…
I have been a long-term lurker on these boards for many
years but, as we move into a new year, I have decided to start a diary to help
me record my thoughts, plan and monitor my progress around my mortgage free journey,
as well as some other important goals and ambitions. I am hoping that this diary will keep…
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Back to square one
I did have a thread on here years back, but it's been closed. Took out a 33 year mortgage 6 years ago, and I've been overpaying diligently - about 70% overpayment each and every month. Was well ahead, and by my calculations, I'd have been mortgage free at about 17-18 years. But that was based on interest rates staying…
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4 years left?
So I have 4 years left on my current mortgage and my fixed rate is due to end in November. Now I have around £17k left to pay. Just can't decide whether to find a new fixed rate deal for 2 years, leave it to the gods of variable or consider a bank loan for the remainder. Just not sure what would be best.
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The Mortgage Free in Three - Take 5 challenge (MFiT-T5)
Read our Mortgage Guides for fully researched, up to date help on cutting your mortgage If you haven't already, join the forum to join the challenge. If you aren't sure how it all works, view our New to Forum? Intro Guide. The Mortgage Free in Three - Take 5 challenge (MFiT-T5) First I must give a huge thank you to…
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50k in 5 years
Morning all, well it's been a while. In fact, it's been so long that my old thread has been closed:( I have been on MSE for ages but haven't posted in a long time. Since then our financial, health, family and general situation has changed a lot so I thought it was time for a new start. We took our mortgage out in 2006 and…
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Danni R's little road to riches?
Hello, I figured its time I jumped on the band wagon as well. I'm 28 and 1/12 and I have had my mortgage since april 2011. Its for £105k over 30 years. Its just little old me and I really want to pay it off as soon as I can (who doesnt?!). I got a nice sized deposit from my parents to buy it and things have changed…
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Almost mortgage-free: now what?!
Hi. Just spotted this forum. I’m about £5k away from paying off the mortgage on a 3-bed end-terrace house — and I’m somehow terrified! Are there downsides to paying off mortgage? I once saw/heard a discussion that said lenders like to know that you owe money to other organisations: could being mortgage-free get in the way…
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Personal Loan to Reduce Variable-Rate Mortgage
It seems to be the case where there are (still) some competitive (fixed rate) Personal Loans available which would help offset the bulk of my remaining mortgage, which will be affected as the BoE rates go up. So all things being equal and accepting the golden rule that mortgages are a cheaper form of borrowing than loans…
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Busy Mee's Last Leg
Our Story We are me, Mr Mee and two grown up children ( one daughter living at home and one son who moved out last year). Mr Mee and I have been married for around a hundred years :rotfl: On the whole we have been quite good with money, having periods of our marriage when we have been very poor. We started with nothing and…
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The Skylarks Journey
Hi everyone! So after 7 very slow moving months and then 4 very fast moving weeks we finally received our house keys! 🎉 Moving in day went very smoothly with the key handover happening at 10am. We had all the flooring and furniture apart from the couch and blinds in and built for 3am Saturday morning…Shattered can’t even…
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unencumbered property mortgage
Is it possible to get a mortgage on a property like this. Also is the process same as a normal mortgage? Same process? Do all lenders allow it? What's the maximum you can borrow and what has the LTV have to be? I need to know for a friend. Thanks
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First home/Forever home!
We bought our property in February. FTB's our mortgage was £204,000 and I want to pay this off ASAP. Our house is a lovely 1 bed EOT which we put a 15% deposit down on (South East house prices for you!) We don't intend to have kids so perfect size for hubs, 2 cats and I - I can't really see a reason for us to ever need to…
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The great life reset
Hi 2020 has been the ultimate reset for me. In 2018 I was bitten by the frugal bug and wanted everything paid off. Frankly, I made my husband, myself and my two daughters a bit miserable as there was never any money in the budget for fun. I'll go into detail of my finances in the next post. Our debt was paid off, our…