I wish I hadn't overpayed!
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Barneysmom
Posts: 10,123 Forumite
I paid in £1200 to my mortgage account a few months ago.
Unfortunatley it's taken us to just under the 50k mark.
But now I'm out of my tie-in the rates are higher for people borrowing less than 50k than if you want 51k if you see what I mean.
If I'd left it we could have got a better rate.
Unfortunatley it's taken us to just under the 50k mark.
But now I'm out of my tie-in the rates are higher for people borrowing less than 50k than if you want 51k if you see what I mean.
If I'd left it we could have got a better rate.
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Comments
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I just wondered if you could take a payment holiday or get your overpayment back or something; but I am a financial numpty, so this is 'wondering' and definitely not advice.:heartsmil When you find people who not only tolerate your quirks but celebrate them with glad cries of "Me too!" be sure to cherish them. Because these weirdos are your true family.0
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Take a mortgage out for just over £51K then make an overpayment to bring it back down. Your new mortgage doesn't have to be the same rate as your old mortgage.0
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I was wondering about that, it might be the best thing to do.
Then in a few months overpay the grand or so back to the mortgage?0 -
Depends on the mortgage terms and conditions, but you could quite possibly do it straight away.0
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Two questions:
1) What's your current mortgage rate?
2) Have you considered looking at other providers, as you do mention that you're out of your tie in period?
You get no reward for loyalty these days and you may get a better rate elsewhere.
Financial Bliss.Mortgage and debt free. Building up savings...0 -
1) Chel-Glos svr, waiting to find out what it's gone down to now, not sure today
2) won't it cost us money to go to a different bank?
financialbliss, thanks.0
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