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paying off mortgage
bazzzer
Posts: 9 Forumite
hi i owe 55k on my mortgage and i am paying £240 a month interest only which is locked in for 2 more years roughly 4.5%.i now have the funds to pay off all the mortgage but there is a £1500 penalty.i was wondering if it is worth just paying it all of and be done with it or if there was any other options to reduce the penalty.nationwide have told me its best to pay it of.
Old Faithful we roam the range together,
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.
Giddy up old fella cos the moon is yellow tonight,
Giddy up old fella cos the moon is mellow and bright,
There’s a coyote crying at the moon above,
Carry me back to the one I love,
And you old faithful pal of mine.
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.
Giddy up old fella cos the moon is yellow tonight,
Giddy up old fella cos the moon is mellow and bright,
There’s a coyote crying at the moon above,
Carry me back to the one I love,
And you old faithful pal of mine.
0
Comments
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Not an expert but would've thought paying off the mortgage now would be a sensible idea. As if you wait till the end of the locked in period you would've paid over £5000 in interest (I think).0
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yes thats what i thought thanks.Old Faithful we roam the range together,
Old Faithful in any kind of weather,
When the round up days are over,
And the Boulevard’s white with clover,
For you old faithful pal of mine.
Giddy up old fella cos the moon is yellow tonight,
Giddy up old fella cos the moon is mellow and bright,
There’s a coyote crying at the moon above,
Carry me back to the one I love,
And you old faithful pal of mine.0 -
Pay it off, and relax. Enjoy life. SimplesFeb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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