How big is your current mortgage?

heating-eng

£250,000 - £299,999

skaps wrote: »

Was just wondering what size mortgages other people had, as i have not noticed anyone on this forum with a mortgage as big as mine. Also i wanted to find out if anyone else is overpaying and what tips you have to do this, as i want to reduce my term as much as i can.

Here are my details:

Mortgage taken out: £234000
Term: 30 years (29 years left - but am overpaying at the moment in order to reduce this)

mines £286000 interest only although we have started to pay off £600 extra per month .
should be paid off by the time i am 90 :rotfl:

de1amo

£50,000 - £99,999

i valued mine by using the analysis of prices in my locality--not estate agent speak!!-there are plenty of sites that show you real price sales for blocks and streets.-i like to keep it real!
i would like to die with my mortgage in place but sadly they dont go over 70 years of age

de1amo

£50,000 - £99,999

i did mine 55315 mortgage divided by 240000 value x 100

skaps

£200,000 - £249,999

Thanks de1amo for that my ltv is 93%

de1amo

£50,000 - £99,999

so you own about the front door lol
they say thats a way of viewing how you pay off your mortgage--percentage out your house-my place is 110metres sq so i own 80metres of it

skaps

£200,000 - £249,999

Yep thats about all i own at the moment. Have started to overpay an extra £60 a month from this month so hopefully i'll own the porch by the end of the year. lol

de1amo

£50,000 - £99,999

there is a calculator that will tell you the term reduction if you apy your 60 quid---are you interest only or repayment--makes a huge difference to everything knowing that !!!

skaps

£200,000 - £249,999

I have the excel spreadsheet that i got from another thread. I'm repayment and if i keep up the overpayments and keep up the amount im paying even when i come off the fixed rate next year, it will take 17 years to pay off the mortgage which is a huge reduction. Thats based on the svr staying low so hopefully it wont change too much and my circumstances have not changed too.

heating-eng

£250,000 - £299,999

de1amo wrote: »

there is a calculator that will tell you the term reduction if you apy your 60 quid---are you interest only or repayment--makes a huge difference to everything knowing that !!!

where is the calculator please

skaps

£200,000 - £249,999

http://forums.moneysavingexpert.com/...html?t=1157173 this is an excel spreadsheet that i find useful to help me see the difference that small overpayments can make