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Beware Mickey Mouse Mortgages from Lloyds Bank
Anyone trying to overpay a mortgage from Lloyds Bank should check every mortgage payment from day one carefully. We have had a roller coaster ride, including our mortgage term unilaterally increasing by 5 years, within a 3 month period, that resulted in 13 years of mortgage under payments. This is not noticeable unless you…
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Anyone taken out a large mortgage (over 300k) at 50?
Hi all We decided to move to our dream house this year. Our mortgage has gone from £800 to £2100 per month. Is there anyone else who’s done this sort of thing at aged 50? I think everyone thought we were nuts and they were probably right! But I don’t regret it.
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Should I pay my mortgage off?
Hello, My mortgage Is coming up for renewal in November and it currently stands at £32,000. I have been on a fixed rate for five years at 1.8% and I’m terrified about the monthly payments jumping up when I renew. Having done a budget plan this week in preparation to meet my mortgage advisor, I was shocked to find my…
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Paying off within the 10% limit
Hi We have a mortgage with Nationwide, 10 yr fix at 2.09% with 6.5 years to go, current balance is ~£27k and the original loan was £100k so checked with Nationwide and an overpayment of £10k is ok without invoking early repayment fees. So it’s possible to clear the mortgage in 3 years rather than the remaining 6.5, which…
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Settlement before or after the last installment?
Hi, I'll close the mortgage on the 24th of June with a final overpayment. I have the feeling that the settlement preview that I'm seeing isn't taking the last installment into account. Is it better to ask it after the last installment? Thanks
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Paying off my mortgage early where do I even start?
Hi all, Been reading a lot on here and finally thought I’d post. I’m starting to look into overpaying on my mortgage but not really sure what’s the best way to go about it. There’s loads of calculators out there, but I one and was messing about with the numbers its called checkawage.co.uk It’s mad even just overpaying £100…
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Paying mortgage off (Northern Ireland)
Hi interested in anyone who has paid their mortgage off (particularly from N.Ireland). I'm being told to contact a solicitor to have them remove the lenders charge over the property (Discharge of Security). I take it this is just another money grabbing exercise How much will this cost thanks
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Mortgage overpayments
I am coming to the end of cheap 5 year deal, obviously interest rate will be going up, probably quite significantly. We have saved £50k in this first 5 years - should I pay that to the mortgage as an overpayment to keep future payments down when higher interest rates kicks in, or pay the higher payments in future but don't…
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Paying off a mortgage with inheritance
Hi. I hope this makes sense! I'm due some inheritance which I'm going to use to pay off the mortgage (this is not the bit up for debate, it's going had enough). My question is - should I pay it off just as my current deal ends? Does this stop early repayment fees etc? Thank you.
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Using credit card to pay off mortgage?
I'm coming to the end of my fixed term deal and only have 15 months left on my mortgage, Unfortunately I have to move onto the standard variable @ 7.99% so I was wondering if it would be possible and cheaper to pay the balance of my mortgage on a credit card then do a balance transfer onto another card with a 3% fee?…
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Pension or Not ?
I am 67 with a Pension and a 22,000 mortgage. My Question is should I pay the Mortgage off using my penison and save my self £600 that I pay every month towards what left of my Mortgage ?
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Minimum loan on mortgage
Just posting to see what others think and more importantly if anyone has done similar before. My husband and I are first time buyers, we intended to buy in cash, but just discovered 10 days before we were meant to complete that to use our LISA’s we needed a mortgage. The GOV website does not say any minimum value for the…
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Reposession - negative equity
Myself and my ex partner had a house together, he refused to sell at the time despite me requesting this several times, and instead rented it out to various people that refused to pay. It got to the point were we owed thousands and got taken to court and did a voluntary repossession, and have ended up owing £35,000. I have…
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Paying mortgage or save
We have been really fortunate to have been left some money so we are looking at paying off mortgage. however my mortgage interest is lower than savings and I have 2 years left. interest 2.79%Redemption about £1400 on mortgage. i know it is sensible to save the money instead but even if we put max £ into ISA’s we will still…
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Opinion on being Mortgage free with 2 x btls?
Hi all, I currently have 2 buy to lets and a residential mortgage which are all up for renewal within the next 12 months, however i'm not sure what to do, so I wanted to ask what you would do in my situation. BTL Property 1, outstanding mortgage balance £235k - value £400k , currently rented at £1700 p/m ,fixed rate ends…
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Best possible way to pay back mortgage?
Surely these things should be in the open Should I lower the mortgage and then set a limit to overpayment each month Or just pay a set limit each month without an overpayment ? I can see why brokers don't mention these things
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Advice on overpaying Nationwide mortgage - choosing overpayment option
Hi we currently have 10 years left on our 25 year mortgage. We have a mortgage with the Nationwide- currently on 5 year fixed rate (4.09%)- this fixed rate ends in 3 years. 1.Reduce mortgage term We are keen to pay this mortgage off 3/4 years early and intend to overpay as much as we can potentially up to the 10%…
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Best way to use lump sum?
Hi everyone, I have recently received some inheritance and was aiming to put £50k towards the mortgage, but I'm stuck with how best to do this. Mortgage is currently £109k with interest rate of 5.04% and the current deal is up in December. Do I put the £50k on now or wait until the deal is up to avoid charges for…
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Is Our Mortgage Sustainable? Advice Needed
We are first-time buyers, and our mortgage for a house of £575k has been approved with an interest rate of 4.44. Loan term is 28yrs. Got it with Nationwide with 5.5x of salary and they counted my annual bonus. We are putting down a £110k deposit(19%).So the mortgage amount is 465K and rest balance we are paying as deposit.…
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Is it worth paying my mortgage off early?
Hello, I am about to inherit enough money to pay off my £20,600 mortgage, which has a fixed 2.15% deal until 30/04/2027. My mortgage expires in 3 years and 5 months. I have had a statement to say the early payment redepmtion fee is £600. Is it advisable to pay this early or wait until at least my deal runs out in 2 years 2…
