-
Tips on recovering endowment shortfall with only 4 years remaining
I would welcome help on working out the best way to take advantage of the low interst of 3.25% on our £64000 interest only mortgage (increased payments are allowed) while trying to recover the shortfall of approx £5000. Not sure if we should transfer to repayment, increase monthly papments or save in an isa? Maybe there's…
-
Woolwich overpayment advice
Hi Unfortunately we are on a fixed rate mortgage (not offset) so not benefiting from the decreases. We are however in a position to make overpayments and would really like to maximise our savings due to the decreasing saving rates especially due to the relatively high rate on our mortgage 5.69%. I have spoken to the…
-
10K down in 2009
Hi, I am posting as I would like to make my New Years resolution official!! Ok, so the facts are my mortgage is currently 166K interest only. I have a 10% scope for overpayment and am currently on a fixed rate until mid 2010. I feel that although this would be a large overpayment it is not totally impossible and I may be…
-
Base rate cuts helping you become MF?
Anyone else benefitting from the base rate cuts in their quest to be MF? I did my family financial budget nearly a year ago and it spans the next 2 years (reason for doing it for a long period was for it to cover my maternity leave and return to work) so I have budgeted for the mortgage payments as they were at that rate…
-
Missing a Mortgage payment
I am not going to be able to pay my mortgage payment this month its due on the 12th i have my mortgage with Abbey i have missed one payment about 7 months ago and they added onto the term i am worried about missing this months payment and what will happen. Any advise would be appricated
-
Interest only mortgage - overpayment query
hello everyone, i have an interest only mortgage for 95% LTV 124k on a base rate tracker on a property bought 3 years ago. i decided to go interest only as i was 26 years old when i bought it and hope to be able to afford repayments with promotion at work etc. prior to all the cuts in base rate i was paying around £575 a…
-
Buy-to-Rent Back Mortgage
Hi, Iam considering investing in a Buy-to-Rent Back property but Iam unsure which mortgage would be best for this. If someone would tell me I would be most graceful.
-
I know you can help me
I have read the threads and have got a bit confused so would welcome your input regarding overpayment. I owe £48,000 on my mortgage which is now at a rate of 3.85% flexible. I My monthly payment is £293 and I can overpay as much as I like and have been doing £600 per month. I am a basic tax payer and have an ISA. I may…
-
overpayment question
I do currently have debts but am managing them the question I have though is should I overpay mortgage or debts first some of my debts are 0% I owe £180,000 on my mortgage or thereabouts I have only had the mortgage for 2 and a half years.
-
paying in a wee bit extra
I've decided to stop paying into one of my regular savings and pay a bit more into my mortgage. I have a total mortgage of £153,500 (69k repayment, 84.5k int only) on a £250,000 property. Are there any benefits of paying into the interest only versus the repayment? (or vice versa) I've already checked and I will not incur…
-
Pondering... and need a steer please?
Pondering... and need a steer please? Hi All I need a bit of advice. I took a re-start mortgage with HSBC 18 months ago, fixed at 5.79% for 3 years. This was originally interest only, and I have converted part of it to repayment and either over pay by 20% on the rest or add this to savings depending what suits at the time.…
-
Overpayment query.
Hi. Looking for assistance re OP on my Direct Line Mortgage. Have recently contacted them and agreed OP of £200pm. Informed them I wanted to reduce term, they agreed. Today received confirmation letter which says " Any OP's to your mortgage acc. will reduce your capital balance rather than reducing the term" My question is…
-
Mortgage overpayment - Reduce term or monthly repayment???
I have recently made a mortgage overpayment. My mortgage provider gave me the option of keeping the same repayment amount and reducing the term or keeping the same term but reducing the monthly repayments. I can see arguments for both methods and was wondering what other Money Savers think? Reducing the term means the…
-
Brown unveils mortgage help plan
Brown unveils mortgage help plan http://news.bbc.co.uk/1/hi/uk_politics/7763044.stm People facing repossession will be able to defer part of their mortgage interest payments for up to two years under plans unveiled by Gordon Brown. The plan is designed to give those who lose their jobs or take a big cut in their income an…
-
Good Mortgage calculator required
Hi Folks:hello: My banks mortgage calcultor has changed from a fantastic tool, to a very basic one. I'm looking for one which will allow a split capital and interest and interest only, also one where I can play with overpayments options. What are you favorite calculators, I've seen a few online but don't seem to be exactly…
-
How Should I Over Pay Mortgage?
Hi Guys. I have a repayment mortgage with HSBC totalling £139K This mortgage is split into 3 separate mortgage accounts i.e. £82K + £48K + £9K. When I remortgaged with HSBC earlier this year, they stated that the mortgage had to be split into 3, although all 3 accounts of the mortgage have the same terms & conditions viz.…
-
Where to overpay?
Hi First post on here and looking for some advice. Thanks to a divorce earlier in the year I now find myself with a £300K mortgage and a hefty 25 years to pay it off. Luckily the lovely people at HSBC have accepted me for the 0.74 above BOE tracker which is for life of mortgage and I can make unlimited overpayments. So,…
-
When my fixed mortgage expires........
Hello, My mortgage expires next august (which will make the mortgage 3 years old). Currently my dad and i are the two names on the mortgage although my dad has nothing to do with the payments or anything (he is just on there so there was a big enough income to get the mortgage) the mortgage is for £116,000 and I earn…
-
My MFW plan
I currently have a 25 year £100K mortgage with Woolwich (Barclays) on their Openplan Flexible Fixed. I got the mortgage in April 2006 with a 3 year fixed rate of 4.79% moving to Barclays Base Rate + 0.95% (currently 3.95%) thereafter. I am pretty happy to stick with the mortgage. I was thinking of moving to an offset…
-
Silly Question...
Hi all, kinda new to all this and just wondering about my mortgage... We've only had the mortgage from January this year, and it's with Mortgage Express (who I believe have recently been made public... or something...?!). I'm working just now on paying off our other debts, but its got me thinking abut paying off our…