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The One Account
Hi, I've been looking into the One account and wanted some advice. I have a mortgage with First Active which is an absolutely fantastic no strings or tie-ins deal at the same rate as the BoE (currently 4.5%). I have current account and savings (only £1!)with A&L at 5% interest and a Smile savings account at 3.04%. I am…
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Mortgage overpayment advice please
Ok I hope this makes sense.. Mortgage left £55,545.12 Rate recently changed to 7.11%:eek: Tied in until 3/3/08 Interest only Allowed to make over payments of 5k per year without penalty Penalty for overpayment over 5k is 6% of the over payment Penalty for clearing early 6% of balance Currently have £25k in savings and can…
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Bi-weekly payment
Anyone heard of somthing called bi-weekly payment ? For example, the monthly payment on a 100,000 8% loan for 30 years is 733.77. On a biweekly payment plan, you'd pay half this amount every two weeks, or 26 payments over a year. This is the equivalent of one extra monthly payment -- 13 instead of 12. You'd pay off your…
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New House Purchase. Am I going MAD?!?
I'm very close to paying off my mortgage and have approximately £220,000 worth of equity in my current property. I'm now currently considering my options and one of them is to move to a bigger property costing £525,000, which would require me taking on a new mortgage of £300,000. This would involve making monthly mortgage…
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What would you do?
Me and OH bought a site with outline planning permission last year for £40k. Due to various planning restrictions brought in since then here (NI) sites have rocketed in price and our site is now valued at £200k. At the minute we have a 87k mortgage on our present house which is valued at £130k. We have always been of the…
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Advice Please
I'm only just 'debt free' so being mortgage free is a long way away at the moment. I have 27 years to go on my mortgage and I have it in two parts, 108k in mortgage and 21k in equity release loan. Any tips on where I should start? Thanks GW
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how much overpayment before i see an effect?
hi After reading all your posts i decided to start a concerted effort to overpay my mortgage. I have £64000 left due to end April 2026. I started the beginning of May and have so for overpaid by £150. How much will I need to overpay before i see the term reducing? :confused: Thanks in advance kerry P.s. my mortgage is with…
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Use 0% Credit Card to Over Pay
Hi there, Need a little help with this idea. Want to pay off Mortgage as soon as I can. Good chance I will be made redundant in 2 years time. Mortgage £22,600 with Halifax at approx 6%13 yrs left. Credit Cards £11,000 at 0% Savings £17,000 at 3.6% net---- £11,000 of this is for the credit cards! ISA £3000 A&L --- This…
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Moneysupermarket.com
isn't working, I am wanting to get the true costings of mortgages...it has been like it for ages now...any other site that is any good? Emmy :D
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Paying off Mortage by working in Saudi
I have been offered a contract (1 yr+) to work in Saudi Arabia for a large IT consultancy. I estimate I could probably save 40-50K (tax free) a year however I'm undecided due to the life style restrictions of living in saudi and the move from family & friends. However it would help me reach my goal of clearing my 150K…
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Advice on what to say to mortgage co?
Hi We've got £17k left on our mortgage and want to pay it off over the next couple of years. When I paid a small lump sum in recently, I was surprised to find that C&G had used it to reduce our monthly payments as opposed to reducing the term of our mortgage. Is this normal? I've now got another £7k I'd like to pay in and…
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over payment reserve ?
Hi Ive made quite a few overpayments in the last year and this shows on my statement with the Nationwide does this mean that if ive been over ambitous with my overpayments I can underpay if some financial emergency arises? Presuming this to be correct my little emergency fund I have been keeping might as well be put…
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Make your own Mortgage Piggy and save £5!!
I just posted this in the mortgage piggy sticky but just to save it getting lost once people keep posting heres the instructions again.......... I just spent the afternoon making "hermione" the pig. Im also going to make a cow, sheep, chicken and horse so i have one for 10p's ,20p's, 50p's and £1 and one for small change.…
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0% credit to make an overpayment?
We have a flexible mortgage at 5.39 % with a balance of approx £75K and a remaining 16 years. We are able to make overpayments that affect the mortgage instantly and have a cheque book facility to withdraw funds again. In the past we have used this when we have had a bonus at work for example. Paying in the bonus for a few…
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encouragement please!!!
ive been visiting this site for a long time now just wish id found it a lot sooner!! i want to give everyone a big :T for facing up to their problems and actually helping and supporting others your all fab! last year when i was 6 months pregnant i had to tell my husband that i had managed to get myself into £41000 of debt…
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Premature, but hey, you inspired me!
Hi all! I haven't even paid the first instalment of my mortgage yet (don't move til a week on Friday!) but I'm full of enthusiasm and my overpayment pig is almost full already :T We've actually decided to spend whatever comes out of it (if and when we find out how to open the blimmin' thing!) on something nice for our new…
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To pay or not to pay
I'm on the verge of being mortgage free, got an offset mortgage with the outstanding mortgage completely offset by my savings. (ie paying no interest) The question is, should I pay off all my mortgage or just carry on making the equity payments? Look forward to your opinions
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What to do with the money after Mortgage paid?
Hi there I have been reading many stories on this forum about over payments on your mortgage, I have been doing this for a while now and am about 6 months away from being mortgage free. Maybe this has been asked before but I would be interested to find out what people would do with the extra money from mortgage payments…
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Advice wanted please!
I have been reading this thread for quite a while now and this is my first posting so please be gentle with me! My husband and I are currently deciding the best way to deal with paying off our mortgage early. We have a mortgage of 42k with 15 years left to run. We are tied on a fixed rate of 5.74% on 32k of that and have…
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How much 'emergency funds' saved before starting to overpay mortage?
Hiya all, morning :hello: I'm a FTB moving in (hopefully) a month and yes I already have a mortgage pig (well, it's a chicken actually). Anyway, once I move my savings will almost be wiped out. I was interested in finding out how big an 'emergency fund' pot people had saved up before starting on overpaying their mortgage.…