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Mortgage Reduction Beginner to Novice - The Show Begins

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Comments

  • QB_Wolf
    QB_Wolf Posts: 722 Forumite
    Radish72 wrote: »
    Has anyone ever tried it?

    I tried it, said I was going to take my business elsewhere, and they said OK good luck :rotfl:

    I'm still with them :embarasse
    Start Date 16/09/2015
    Original amount outstanding = 225,000 Current amount outstanding =199,812
    Original LTV = 64% Current LTV = 49%
    Original Pay Off Date = Sep' 36 New Pay Off date = Sep' 36
    Original Dly Int = 17.17 New Dly Int = 17.17 Total OP = £1319.31
  • megela
    megela Posts: 755 Forumite
    Ninth Anniversary
    Radish72 wrote: »
    Has anyone ever tried it?

    When we remortgaged and increased I went to original provider & asked to pay ERC & remortgage on lower rate with them as would've saved over the long term. They refused and I was literally told I would have to go elsewhere if that's what I wanted to do - which we did. They didn't seem that bothered about losing the business.
    Re-mortgaged 20/04/12 MTiT-T3 No.7
    Start balance £89611.10 + £22500 = £112111.10/Current balance £85436.53
    Original Mortgage Free Date April 2032
    Target Mortgage Free Date July 2022/Currently August 2029 (based on no offset)
    Total overpayments from 20/04/12: £8152.95
  • unhappy_shopper
    unhappy_shopper Posts: 1,304 Forumite
    megela wrote: »
    When we remortgaged and increased I went to original provider & asked to pay ERC & remortgage on lower rate with them as would've saved over the long term. They refused and I was literally told I would have to go elsewhere if that's what I wanted to do - which we did. They didn't seem that bothered about losing the business.

    Same thing happened to us and we moved to another lender. :)
    Mortgage: @ Feb. 2007: £133,200; Apr. 2011: £24,373; May 2011: £175,999; Jun 2013: ~£97K; Mar. 2014 £392,212.73; Dec. 2015: £327,051.77; Mar. 2016: ~£480K; Mar. 2017 £444,445.74
  • Mortgage_Reduction_Novice
    Mortgage_Reduction_Novice Posts: 1,775 Forumite
    So I guess if they're happy to see us go to a different lender... there'll be even happier to get us back for a fee! But surely, the fee for a new/remortgage is less lucrative for the providers than interest (even for the MWF hardcore). Maybe if we call keep asking... they might cotton on.
    MFW: Nov 2008 £156k, Jun 2015 £129k, Jun 2017 £114k.
  • edinburgher
    edinburgher Posts: 13,899 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I have to say that I'm disappointed that they don't care that much for our custom! I have to say considering the huge amounts they earn in interest, it surprises me....
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edinburgher wrote: »
    I have to say that I'm disappointed that they don't care that much for our custom! I have to say considering the huge amounts they earn in interest, it surprises me....

    They're getting £3.98 a day from me on main mortgages, don't think they'll be too fussed somehow :rotfl:.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • Mortgage_Reduction_Novice
    Mortgage_Reduction_Novice Posts: 1,775 Forumite
    They're getting £13.43 in interest per day from me... they probably should care more!
    MFW: Nov 2008 £156k, Jun 2015 £129k, Jun 2017 £114k.
  • Mortgage_Reduction_Novice
    Mortgage_Reduction_Novice Posts: 1,775 Forumite
    Aww rubbish... that means that my first hour at work pays for that day's commute and the second hour covers the mortgage! That's put me on a downer!
    MFW: Nov 2008 £156k, Jun 2015 £129k, Jun 2017 £114k.
  • misscousinitt
    misscousinitt Posts: 3,655 Forumite
    Tenth Anniversary 1,000 Posts Mortgage-free Glee!
    Now that's analysing things too hard - try not to think about it like that...:)
    Mortgage Free x 1 03.11.2012 - House rented out Feb 2016
    Mortgage No 2: £82, 595.61 (31.08.2019)
    OP's to Date £8500
    Renovation Fund:£511.39;
    Nectar Points Balance: approx £30 (31.08.2019)
  • Mortgage_Reduction_Novice
    Mortgage_Reduction_Novice Posts: 1,775 Forumite
    misscousinitt wrote: »
    Now that's analysing things too hard - try not to think about it like that...:)

    You are right... at least half of the mortgage interest is MrMRN's... so just the first hour and a half!!!

    Speaking of my lovely OH... he's been away with work for over a week and text me saying he wants to chat about babies and careers this weekend. Should I be worried?! I'd rather chat about the mortgage and imminent buildings and contents insurance!
    MFW: Nov 2008 £156k, Jun 2015 £129k, Jun 2017 £114k.
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