-
Some Advice Please
I hope someone can help. My husband and I have sold our home abroad and now have £100k in the bank. We currently have a mortgage of £170k and wondered whether we should either pay this off or use an offset mortgage. Any advice would be most welcome.
-
Anyone heard of Mortgage Advice Services?
Hi My mortgage is with Natwest and I have a company called Mortgage Advice Services https://www.mymas.co.uk visiting this afternoon to look at moving my mortgage to them. They have informed me that even though I have been self-employed for only 12 months and don't have audited accounts I will not need to go via the…
-
Best way to make Overpayments
I have a flexible offset mortgage which allows me to make overpayments of (£1000 a day) on a 48k mortgage (currently 17yrs left to run). I am paying the required amount of £345.00 month @ 5.35%. As i am self - employed i have an extra £200 month i can overpay. Should i pay the £200.00 monthly or should i pay £50.00 a week.…
-
Mortgage and ISA
Hi All, I've currently got a offset mortgage with the One Account (5.6%) and have several mini ISA's with the Beverley BS (4.85%) which total over a third of the mortgage value. My idea for the ISA's was to help with my retirement (I'm only 31) - my question is, should I use the ISA to pay off part of my mortgage? I…
-
interest only vs repayment.
i am in the lucky position of working in the bank and able to get a great interst rate of 4.59% fixed for 5 years and allowed to make a 10% repament towards the outsanding balance in a year. we are thinking of paying off the mortgage in 10 years with the monthly repayment of 1633.00. our other option is to go for an…
-
should i pay it off?i
I may be in a position to pay off most of my mortgage sooner rather than later.Now that standard Life have demutulised I stand to gain about £2000 from shares.Current surrender value on my SL endowment policy just below £14000(only offered a couple of hundred more to sell)Add the two together = £16000 Current mortgage…
-
Mortgage Payoff !
I need some advice with my mortgage please. I took a £38,000 endowment mortgage 11 years ago with the Halifax. The mortgage period was for 25 years. About five years ago, I started to get shortfall review letters from the lender and I decided to pay off £35,000. The shortfall this year at the current 6% rate is just under…
-
Cheapest parts of the country to buy?
Have been speaking to different people around the UK and its amazing the price differences in house prices. Made me curious as to where is cheap and why? i'm guessing low unemployment areas might be cheaper but I don't think thats always the case? Are there area fashions - your area could be in demand then it drops in…
-
i'm feeling positive
hey every one , new to this (started last night) really like the chat forums .today whilst whilling away the hours :embarasse (due to still being on the sick ..getting worried now about money ) i looked at other chat forums..got plently of advice and plenty of great ideas..once (and yet again i am in lah lah land) i manage…
-
Paying Off the Mortgage - Is there a downside?
I Posted this in the Mortgage/endowment forum by mistake earlier, this is the beter forum.... I'm in the fortunate position that we (my Wife and I) may be able to pay off all, or very nearly all, of our outstanding morgage debt (circa £48k) when the current fixed rate deal comes to an end at the end of July this year. If…
-
Deed despatch fee
Halifax charge £50 to send you your deeds,that are now held electronically and of no use ,but if you want them its £50.Cheltenham and Gloucester are returning deeds at no cost.If you want Halifax will dispose of them,and no need to pay.I feel that they are mine ,mortgage paid,why should I have to pay,just feel that they…
-
Overpayers beware. Continued
I see this thread appears to have been closed (not sure why), but as Bil2 seems to have some important points incorrectly stated, I think it would be a good idea for the benefit of others reading it if we got those cleared up. You are, yet again, assuming that the property will be split 50:50. I say, yet again, that this…
-
Overpaying to reduce balance - then switch
I am paying £300 overpayment per month. Basically this is so that when I come sell my house in a few years, I will have less capital owing which will hopefully make buying a bigger house more affordable, obviously using the equity in my house as a larger deposit. (If eveything goes to plan!) I don't intend to pay my…
-
Anyone heard of Mortgage Advice Services?
Hi My mortgage is with Natwest and I have a company called Mortgage Advice Services https://www.mymas.co.uk visiting this afternoon to look at moving my mortgage to them. They have informed me that even though I have been self-employed for only 12 months and don't have audited accounts I will not need to go via the…
-
Taking on a BTL after paying off mortgage?
I have paid off my mortgage apart from a remaining £100 to avoid a penalty period. I can pay off in full next November. I am considering a BTL property. It will cost 70k plus legal costs etc. Similar flats let out for about £375 per month. I have read BTL is no longer a good investment. Can someone explain why? Property…
-
What's the best option when you pay off your mortgage?
Hi I've read lots about reducing your mortgage but what happens when you actually pay it off, I've heard its better to stay £100 in debt and pay the interest on that so your mortgage dealer still looks after your title deeds, rather than pay a solicitor to look after your title deeds, I live in Scotland so I don't know if…
-
Switch to Capital Repayment or just Overpay?
I am two and a half years into a thirty year interest only mortgage of £30 000, my rate is 5.49% at the moment and I pay £138 per month. I can now afford to start paying off the capital on my mortgage and can't get my head around whether I need to switch the terms of my mortgage and make if officially a capital repayment…
-
Mortgage reserve account dilemma
We purchased a bit of extra garden behind our house about 4 years ago and added to our mortgage, which is due to be paid off by Sept 07. However at the same time, the guy at the bank suggested that we also took out a Mortgage Reserve Account, so that if we wanted to buy a caravan, boat or whatever, we could do that as…
-
Offset or not to offset?
Offset or not to offset that is the question? Is it be better to offset all our mortgage or pay it off and have done. I understand that we are in a very fortunate position but we have worked very hard in the way of moneysaving and along with a timely redundancy we are looking for the best option. Any suggestions will be…
-
To Pay Off, or Not To Pay Off?
Hi My wife owns a house which we have been renting out. An opportunity has arisen to sell her house. If we sell it, then after tax, we'll have £90,000 in hand. That will actually pay off all but £20,000 of our existing main-house mortgage. I've done a few calculations and reckon that rental income would produce about…