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The One Account
Hi! have been tied in to a mortgage rate for last 4 years and now I'm free! still got £58,000 to pay back over 21 years!!! anyway have been having a look at the mortgage shrinker, this looks good to me and will save me money, well at least my monthly payment will decrease, have also been using a host of mortgage…
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save or overpay??
hi all ive been reading your threads with much interest and was just wandering if i could ask for your advice??...ive just moved house and now have a two part mortgage one part £82000 is to be paid over 16 years and the other part £96000 is to be paid over 25 years-i have now got myself a pig so should i be putting the…
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Q regarding Halifax mortgages and Overpayments
Hello everybody, Can someone help me. I have just bought my first home, with a Halifax mortgage. Sooner or later I'd be interested in making a few overpayments. I know the fine print stipulates that I cannot make more than a 10% overpayment in one year, but does anyone know how to make easy overpayments into my account? I…
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Process for paying off a mortgage
I have more money sitting in a savings account than is outstanding on my Halifax repayment mortgage so, as long as I've made sure I don't have any need to borrow money for any other purpose in the near future, it makes sense for me to pay it off. I'm a little over 10.5 years into the 25 year term. If I'm too late to…
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How much your Daily interest goes down
Hi I got a mortgage £110,495 4.95% started Sept 2005 Interest calculated daily Daily interest is £14.75 (expensive!!) I was just woundering how much the daily interest drops if i over pay by £100Or £150 per month? or £200 per month? My Mortgage is on the internet banking so i want to check regular my balance. Hopefully by…
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Let Flat in London and Move: Worth It?
Hi All, We are looking at moving from London to Taunton. We have £125K left on our flat in London and it's worth around £245K. We are looking at buying a property for £235K in Taunton. I would like to rent out our London property and buy in Taunton but "him indoors" is less than keen, preferring to release all equity and…
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Overpay mortgage or save.....??
I know this is a common question, here are some facts as would be grateful for your help. Mortgage = Nationwide 2 year fixed (until Sept 07) 5.09%. Can overpay £500each month no penalty. Interest calculated daily. Fees to close mortgage early 2% in year 1, 1% in year 2. Balance £25564 Savings = A+L ISA 5.2% until Jan 2007.…
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The benefits of paying off a BTL mortgage?
I'm about to sell one of my BTL properties and after I've paid back the mortgage company will have enough equity to pay off another mortgage on a BTL property that I intend to hold onto. Is this a sensible thing to do or are there better ways I can use the money? Is there any benefit to not redeeming the entire mortgage…
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How to be mortgage-free, prosper and increase
Hope this helps some people, it's just my story!! One: we bought a house we could afford on ONE salary. I know it's not as easy as that these days, but the lesson to be learned, I believe is, don't go in at the top. Lower your sights a bit - have a house in a slightly less desirable area, or consider a flat instead of a…
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Pay it or save it
Just recieved a cheque from BAA for my shares £3000 should i put it on my mortgage or put it in savings account my mortgage is £57000 ,Thanks.
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6 Years Left
I am new to this, so please go easy on me. I have 5 years and 11 months left on my mortgage[Co-Operative bank]. I currenlty pay £560 /month. Does anyone have any nuggets of gold that I can use to reduce this term? :beer: :beer: Cheers
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charges
Our mortgage was with GMAC_RFC but they sold! it to North Yorkshire Mortgages Limited., it is an interest only mortgage but we are allowed to pay 25% overpayments per year, GMAC never charged for this but North Yorkshire say they are charging us £50 for every capital repayment, can they do this. I have complained to both…
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Mortgage/savings, not sure what the best move is- opinions please
Hi I'm new here, OK, here's our situation. Our current home has a mortgage of around 134k, with around 7 months till we can shop around for a better deal. We also have a house that we rent out, with a 74k mortgage on. Again I think we're tied in till next Feb. Husband is self employed, I'm a stay at home mum. At the moment…
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Maths Mortgage Question
I have £4000 available to make as overpayment on the mortgage but the Building Soc. wants to charge me £73 in interest. Does anyone know if it would still be worth making the overpayment because if I don't I will be being charged 4.4% (my mortgage rate) on the 4k that I haven't paid off. Sorry if it's complicated! Thanks…
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Joint Mortgage value
We are buying our first home and earn £25k each, the house we want is £230k, is there a way to borrow that much, what are the standard ratio's of lending? thanks Steve
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Save - repay - or isa?
Hi thanks for looking - Long story short I have been overpaying my nationwide fixed rate mortgage by the maximum £499.99 a month, which charges 4.69% APR Having opened a A+L premier direct current account I now have access to a regular saver account which will pay 10% gross p.a./AER after a fixed and limited period of a…
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New approach to MFW?
I owe just about £50k on the mortgage, and have a monthly payment of £1200 set up to overpay as much as I reliably can. The BS told me 2 months ago that it would take me 4.5 years to be mortgage free if I carried on at the present rate (assuming no hike in interest etc). At present I'm on a flexible mortgage at 6.1%. Yes,…
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Affordability Mortgages
Am trying to help a friend sort out an affordability mortgage - apart from Alliance & leicester does anyone know which companies would do x 4 on salary, but with a decent rate? Thanks all.
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Tracker Mortgage
Hi, Myself & my wife are currently looking at remortgaging as our existing deal is about to come to an end in August. We have been with the abbey on a 5-year fixed mortgage of 5.75 % originally borrowing £64,500. Although we knew what our monthly payments were for this mortgage which made it easier to budget, I know that…
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One Account
Hi. I've just been fiddling round trying to see if I can get a better mortgage deal. I've come across the One Account. Is it as good as it looks?? Thanks