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should i take the hit on an early repayment fee on my mortgage
Good morning,just after a little advice.I have a mortgage with the Santander and have asked for a settlement figure but unfortunately it occurs a penalty on the account. I currently pay just shy of £500 pcm on a mortgage of around £70,000 but I am tied in with the product till December 2023,to pay it up early will incur an…
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Can I ever buy a property on 30k a year by myself? I am 36 years old
Hi Everyone I am 36 years old, I want to buy a property for around 170-180k, idealy a 3 bedroom semi house. I have a 20k Deposit, I have never had a pension or saved in one other than the government pension where you pay a little every month via salary, I earn around 30k a year Now im sitting here and wondering where I…
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CGT
I am think about hiring a house sitter, or asking
one of my relatives to sit the house. My queries lie in this; will I be able to
show this as an expense in capital gain tax. If I hire a relative, will I be considered as an employer
or would it be a good idea to pay them the amount and themselves be
self-employed.
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Pay off mortgage or invest dilema
Hi all after some advice regarding paying off my mortgage or not. I have 22k left to pay on what is now a Barclays base rate mortgage running at 0.94%. I have Santander 123 select account with 38k in it as it stands today. After reading about Santander 123 rate coming down to 1% I need to spring clean my finances . Im also…
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CGT - main residence
I have never previously owned
a property; this is the first time that I’ve inherited a property. My share is
only 35%. We have to sell the property
to receive my share. My question is: for capital
gain tax, is it possible for HMRC to consider my share of the property as main residence, to avoid paying capital gain tax on…
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Best date to overpay halifax mortgage each month?
Hi all. We've currently got a halifax mortgage which we've just started and only made our first payment. Our regular payments will now come out on the 1st of each month but I understand halifax calculate the interest daily so which day is best to set a standing order up. We don't bank with halifax so we have no online…
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Overpay monthly or lump sum
Removed thread
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Overpaying on Barclays Mortgage can somebody explain because Barclays can't
Hi All, I am hoping somebody can shed some light. We have contacted Barclays and they cannot explain why this is happening or refuse to. We currently have a Barclays Mortgage fixed rate and are paying £100 per month over the monthly direct debit. But the amount coming off the mortgage on a monthly basis varies??? I would…
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misscousinitt's MF Diary
Hi all I have posted on here before about becoming MF, but not alot was done as we had the wedding last year and that seemed to take up most of our time. We are debt-free, have savings and have a tiny mortgage compared to most (approx £19k) - but on a fixed rate of 6.29% until June 2012 - so not a huge scope for…
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Buying a house without a mortgage
Is it still possible, do you think, to aim for being mortgage free when you haven't actually got a mortgage? (I rent) Technically, that makes me, and anyone else in this situation, mortgage free, but it also makes us "home-less". So, when everyone on here is trying desperately to rid themselves of their mortgages, is there…
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Dreaming of a new life in Norfolk.
Well here I am starting a new thread :) I have been doing OPs for the past 4 and half years through the help of people on MSE but have had to re-register due to circumstances. My mortgage value as of February 2014 is £28,026 once the MP has been taken out. Hard to believe that July 09 it was £86k and my EMFD was 2032!…
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Mortgage overpayment calculation advice
Wondering if anyone can help with a calculation. In June 2016 I returned to my home I'd been letting out for 2 years. Told my mortgage lender, Nationwide, I was no longer letting and asked them to return the mortgage back to owner occupancy versus letting rate (was being charged an extra ~£20 month for this). Didn't notice…
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How do I do this sensibly!?
just thinking about divorce Send me a message View my user profile Thanks receive So I asked my husband to leave last week. We have a joint mortgage. Owing 85k. 60k equity. I have inheritance of £60k. 1 child aged 10. My idea was to be amicable. ..I'm presuming he will be due half of the equity anyway. So, I want to stay…
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Mortgage Free Mini-Goals
So, I've decided that I want to make a concerted effort to reducing our mortgage so that we finish our term well before the initial end date of April 2041. Unfortunately, I haven't quite set a fixed date in mind I just know that I want to pay it off early. A bit of backstory for you all. My husband and I bought our first…
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Cleaning Up For My Parents by 2024
Hi everyone, I'm new here. :money: And of course, the reason for that is because of a Mortage-Free adventure. Only this time, I'm having to do it at my parents expense so the house is not repossessed by January 2024. Perhaps not so funnily enough, my Father has been left to his own devices for many years and it hasn't…
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Experience after 5-10 years of paying off
I just got myself into a 30-year mortgage. I understand that provided that the interest rates remain low-ish,or around today's levels, the repayments will remain the same, if not go down (in case of overpaymennts). I want to ask people's experience, after paying off a mortgage for 5-10 years, where inflation has eaten into…
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The Final Countdown
Skips back in with a merry smile and a waggly wave. I have been in and out of these forums for years but I am now working part-time and have just the final mortgage on my house to go. Two buy to let flats in London (one was my home for 30 years) together with my pension mean that I am in many ways very fortunate. But I do…
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Mortgage free at 36. ✅
My mortgage story: At the age of 26 my partner and I purchased our first home together. Moving from our rented home back to my parents we saved hard for 2 years which allowed us to have a descent deposit. So with the deposit in the bank we started our journey searching for our new home. From memory I think we looked around…
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Pay of mortgage or split into bank accounts and let the inerest pay for it
Good evening i am after a little advice if somebody can help me out.I am about to get a lump some of money and i am unsure as whether to pay off my mortgage,which currently stands at around £70 000 (£490 pcm) or invest the lump into various secure bank accounts with returns of interest of 1.4%.The sum I am due to get is…
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Dad's Santander Mortgage 4-5 years left...
My dads Santander mortgage will finish after 4-5 years. His mortgage is for 15 years.
