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Minimoocow's 2008 MF Journey
Hello all, I have been wanting to post stuff over the last few months but haven't as I've not been sure the MFi3 thread is really the right place for it! It was only when reading TallGirl's new diary that it occured to me I could start my own thread for my random ramblings . . . so with apologies to TallGirl for borrowing…
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How much to save before overpaying mortgage?
Hi. We are about to change from an interest only mortgage to a repayment mortgage and would like to overpay it. Not sure which mortgage or what rate yet. My question is how much do you think people/we should have in savings and accessable before overpaying and locking away the money? Do you all have quite big savings…
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i need help with this calculation guys mortgage - savings
I have an offset mortgage of about £70000 with between £2500 to £5500 offsetting savings, ie it varies but it is not a lot considering the debt. The mortgage interest rate with my mortgage for comparison it says is 6.2%. But I have been putting money into stocks and shares since 1992 with not much sucess in the beginning…
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Interest only vs Savings
The mortgage is 125K/5.49%/10 yr fix - 21 yr term. If Interest only payment = 573 pm / repayment style = 840 pm Difference of 267 pm. If the 267pm got a return of 6% over the 10 years what would the benefit be? Also is there a calculator out there that can compare these types of scenarios. People always say if your…
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0.25% cut in BoE base rate
another £20/month towards the overpayment.... thanks Merv.....
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Overpayment Question
Hi, I'm interested to start overpaying.. but still not exactly clear about few things. Situation : Mortgate of £155,700, started with Halifax April 2007, fixed term until February 2009, rate at 5.19% for 25 years with possible 10% of overpayment. After 1 year continous payment of £923.66 per month, the current amount is…
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Reduce term or monthly payments?
I have a lump sum in savings which I would like to use to make a dent in my mortgage (I would still have rainy day savings left over). What is usually the best way to go, reduce the term or reduce the monthly payments and keep the term the same? I thought that it would be best to reduce the term as I can meet the monthly…
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more appropiately...
there should be a love to get a mortgage thread, lol
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Inheriting 100k - What would you do ?
Hi All, This is my first post so hello to the board !! My dad is selling some land & if the sale goes through I will hopefully be getting 100k from the sale This is like winning the lottery for me :beer: & now I don't know what to do with it, hence why i'm posting on this board. At first I was thinking of investing some of…
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intrigued but confused..
hi all, ive been reading thru the various posts on mrtgage free wanabee's. Im very interested but confused, can any one offer me advise please! I have a £105,000 outstanding interest only mortgage with an 18 year and 11 month term remaining. I have just switched to a 5 year fixed rate of 5.83% with Nationwide. I have an…
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Keep my premium bonds or offset?
I will soon have a £68500 mortgage. I have £25000 in premium bonds.. question is... do I keep my prem bonds in the silly hope I will one day win on them or pay £99 to activate offsetting on my standard life mortgage?! I will definitely be withdrawing £5000 from the premium bonds which takes me under the 24000 to 1 odds so…
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Car hire in USA - help!
Hi all I am looking to hire a car in USA for 9 days from this Saturday. I basically need to know where is the cheapest place to go to. I have gone on to moneysupermarket and got it for about £120 cheapest for a compact car. More specifically I am unclear about the insurance required. I know that there is advice from MSE on…
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It Pays To Watch, Wednesday 26 March: Why & How Pay Capital Before Interest?
On the Wednesday 26 March programme, Martin said to pay the capital 1st. But he didn't say why, nor how you can specify this. It's not divided into 2 by the lender, is it? And don't you pay interest on the interest? Andrew
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HSBC match your expiring fixed rate mortgage deal
I've heard that for the next 5 weeks HSBC are offering to match your fixed rate deal (down to 4.54%) if your deal is finishing this year. Our 4.05% deal finishes in September and we were planning on using most of our savings to pay off the mortgage, but using MSE's calculator we might be better off going for this deal.…
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More advice please
Hi, Took your advice and opened an ISA with Barclays last week and paid in the £3000. so thats 2007/8 taken care of. My mortgage is with Northern Rock for £100 000 which is fixed rate at 5.12% and finishes in September, monthly £425 and I now pay £800 an over payment of £375 as of 1st April. Do I open another ISA and pay…
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Life Insurance Policy
Hi All, I have a life insurance policy with HSBC which I took out with my mortgage 5 years ago. I pay £27.47 per month .... is this reasonable/ steep? Have put a call in to have an appointment with a HSBC financial planner, but is it worth getting other quotes in the meantime to 'bring to the table'? ...... does anyone…
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Sign of the times..?
The number of posts on this forum seems to have dropped quite a bit recently.... People seem to be having problems getting/keeping mortgages without the thought of getting rid of it early maybe ?? :rolleyes:
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Advice wanted...
Hi We are currently looking at ways to pay off our mortgage more quickly, we would love to be mortgage free by the time we are 50 (17 years). If I set our out situation and one option we are looking at maybe someone can give some advice on whether or not this is possible or other options available. Our house is currently…
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is 85% a good deal?
ok i have found a local home buyers company that is given the thumbs up by 2 people who lives near my mother that they don't kick you out after 6 months (one did it 2 years ago and still lives in the house) spoke to a guy today and they give 85% of your value and let you rent back indefinitely (im skeptical but 2 people…
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Can someone help me work out how much interest I'm paying?
Monthly, daily hourly, etc? We've got 126k (ish) at a rate of 5.95% over 22 years. I'd love to know as it'd be a great motivator for me! Thanks in advance, Gillybean