pammyj74's MFW diary (or possible wishful thinking!!)

newgirly

Hi Pammy have not seen you around lately, love the house by the way.

I'm with chelsea and have 10% of the balance ops per year, my bs counts a year as the anniversary of when the mortgage started.

pammyj74

I have just had a thought. I am on SVR so can I OP as much as possible? I thought I read that somewhere

Froggy-G

Pammy! :j

Would you be able to build a house for me please?

I need a £152K house.. Think it might inspire me & OH to push further towards our MF dream..

Thanks
Froggy

pammyj74

Have emailed you, done the best I can

Can anyone confirm about the SVR and OP limits with halifax please?

Secret_Saving_Squirrel

Hello,
I am on standard variable with Halifax and when I took out the mortgage I could have had a slightly lower rate with no ops allowed, or slightly higher with no restrictions, which is what we chose as it would be cheaper in the long run. So you probably need to check with them if you are not sure, sorry to be so vague.

Squirrel:j

babyb06

Hi Pammy

For me (before I switched to offset) with Natwest I could only make 10% o/p in a year (the year running from day I purchased property in July) during my fixed rate. At the expiry of fixed rate (2 yrs) I went onto SVR and had no limit on O/Ps.

I think?! most mortgage co's only have o/p limits during your fixed term........need to check you T&C though

BabyB

Radish72

I'm with Halifax SVR and I can OP as much as I like but they do have an SVR mortgage where you can only do 10%

So you are going to have to ring them up

When I OP over the phone they always tell me that I'm on the pay as much as you want mortgage so it should be quick to find out

Friend can only pay 10% (different lender)but his is 10% of his original mortgage each year so £10K/year even if the balance is only £32K he can still pay £10K

And again I am amazed (and slightly jealous) of your OP amounts

pammyj74

I have just spoken to a lady at halifax but not sure what she is telling me is correct, in fact the more I think about it I dont think she understood what I was doing with OPs.
She looked at my account and said that she could see there were £14k+ part payments that I have been making but they have not been used against my mortgage and that she will pass this info to the payment team and get it set up that payments are set to reduce the term (as it is not set up like this at the moment) The way she said it was this money hasnt come off my balance but I know from my SS that is has or I would have been ringing sooner lol.
She has put through that the term should be reduced when I OP and I will get a letter to confirm what term I have left. I asked for it to be reduced to 8 years today but she says to wait until I get the letter confirming what term is left after todays OP and MP has come off at close of day.

She did confirm that SVR allows me to OP as much as I like which is good.

pammyj74

Have had a day of doing some surveys etc today, I havent done them for so long but I want to get some amazon vouchers to get DD a Freeview tv for her birthday in October or for xmas.

I have done a couple on MyS and redeemed £5 paypal, have been able to redeem £5 on BP last night and am at 65k on toluna

I have been paid some money owed so have OP'd another £200! Havent had my letter from Halifax about reducing the term from OPs yet. Cant wait to see what they say my new term is.
Have been looking at houses again but not seen anything jumping out at me, same old houses not selling.

yukkibear

You're going to be mortgage free before you know it if you stay where you are. You're doing so well.