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Tips on becoming mortgage free please?
Hello I have decided i want to be mortgage free asap realistically it is going to take a few years of hard work i know. We Owe £255500k on a £310K house. Have no debts at present and are in a good position to overpay. We are just in the process of moving mortage (waiting on paperwork) we are going for a 2 year tracker deal…
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slight different mortgage o/p question
Hi... have been overpaying reasonably well against mortgage which has just dropped on nationwide SRV (looking to move to tracker shortly)... I've been thinking that one day in the next couple of years we might rent out this property & I think if the mortgage was bigger (ie. without the overpayments) we would be able to…
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savings vs mortgage overpayment
I am in the lucky position of having approx 900/month available for savings/mortgage overpayments/investments. I currently pay 500/month into cash ISA's (5.5% interest rate), 200/month into unit trust and 200/month mortgage overpayment. I have approx 4 months income in cash ISA and 2 months in unit trust. I have been…
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When to make an overpayment??
Is there a right time, to make an overpayment, with regards to interest? My mortgage comes out on 1st of each month. Should I make any overpayment on this day too? I have just been making OPs as and when I have a spare amount of money just so I don't spend it elsewhere. Thanks
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"clucking bell" car has gone t*&s up
17.30 hours just got a phone call from independant garage{not a stealer dealer}, new gear box and clutch.....£1415 inc vat, one the upside always have an interest free card mastercard on the go{this one got 9 months to go}..got till next may 2009 to clear the balance. Hopefully still be able to free of the "ba%ta$d"…
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Paying Off Mortgage
Hi, Wonder if anyone with a better grasp of the figures can help me. We as FTB bought a house last year, with a mortgage of £60,000 required. I have got a 6.19 % fixed rate, for 5 years (25 yr term)(so about 8/9 mths in). I have always had the aspiration to pay it off when the 5 years are up, just by hard work earning in…
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Iva
Hi, Could someone please tell me what a IVA is.
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Made a huge step
Posted on the wrong thread due to excess blondness today, please ignore. I posted my SoA on here a few months ago worried about my situation, because I wasn't really getting anywhere. I've bitten the bullet and moved out of my flat, I'm now living in shared rental accommodation for loads less a month. My SoA now looks like…
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Mortgage issue
I have - with my married daughter (39) - an interest only mortgage due to end March next year. Repayments on the outstanding £89,000 on the property valued for probate purposes on my wife's death almost two years ago at £700,000 are met without difficulty from our joint incomes, self-employed earnings (daughter) and my…
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Overpayment on Mortgage
Overpayment On Mortgage This is my first posting, please bear with me! I've posted this in the Mortgages thread by mistake, so here it is again! We are looking to over pay our mortgage to enable us to stop working full time sooner. We owe £41,900 (£23,500 Interest only, £18, 400 repayment), have 6 years left and are on a…
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Bad ebay week
Hey, been followign all the advice on these threads but this week ive made like two pound on ebay:eek: so feeling very discouraged! has this happened to anyone else? my first few weeks went great and i made a few hundred which helped pay all the credit cards last month! now i dont know if i should put all my other stuff on…
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Is the One account any good?
I currently have 14 years left on my mortgage and I'd like to reduce that at least by half. The One account looks good to me, but I am aware of the saying "if it looks too good to be true then it usually is" - do people recommend this way of managing one's finances? I haven't found anyone that has this account to discover…
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Cutting travel costs by cycling...
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morgage free tommorow !
Hi all As from tommorow we will be morg free ! yayyyyy , Ok weve sold our big house and brought a smaller ex pit home but im so happy no more financial chains Good look to all who are doing extra to pay theres off :money:
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Offsetting and Overpayments
Hello there, this is my first post so treat me gentle! I have been reading everyone's inspiring stories for months now and your enthusiasm for the mission never ceases to amaze me. I just wish I had all this information years ago instead of wasting about 14 years on an interest only mortgage. Anyway, it's all change now,…
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Mortgage Calculator
Hi - I am trying to find a good mortgage calculator so I can see how much interest my brother would save on his mortgage. At present he has a £50k interest only mortgage and I was wondering how much he would save by converting to a repayment and increasing his monthly payments. Many thanks for any help/advise you can give…
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Nationwide question
Hi everybody, Just a quick one. I've now made three overpayments on my Nationwide mortgage, of £500 in each of the last 3 months. My understanding was that (unless I made a specific request for the term to be reduced instead) the basic monthly payment would be recalculated every time a £500 O/P was made. In actual fact, my…
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Getting plan together...
I started with a £77500 5yr fixed-rate loan in April 2006, my basic repayments are £460ish. Then back in Feb I decided to start monthly o/pmts of £50 after getting a pay rise (int is recalcd mthly). I have now just started making the full 20% o/pmt of £94pcm since starting a great new job. I will shovel the rest of my rise…
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Mortgage free 1st,Pension later?
Hi all,ok since becoming focused on sorting my finance my head eventually turned to retirement. I read a fair bit on pensions n mortgages on this site and a question arose in my head which i haven't seen asked yet. Maybe its a stupid question but im still a beginner at this and all avenues have to be explored. What im…
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Tips on getting through every day without spending a penny !
Hi all,:D Wanted to start a new thread, I am really serious about paying every spare penny into my savings pot to get mortgage down. Would anyone like to share any tips to get through every day without spending a penny? Please feel free to share! Here are mine that Ive come up with so far.... 1. Leave my purse and bank…