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Remortgaging
zola10
Posts: 12 Forumite
Hi
One tip that I do is that everytime I take out a new mortgage deal, the banks always quote the 25 year old term which makes the loan look cheaper than what you are currently paying
If you are for example paying £500 a month ask the bank to quote you how long it would take you to pay off the mortgage in terms of years and if you can increase this amount, this makes the term even shorter. I have take a few years of our mortgage with this alone
Every little bit helps!
One tip that I do is that everytime I take out a new mortgage deal, the banks always quote the 25 year old term which makes the loan look cheaper than what you are currently paying
If you are for example paying £500 a month ask the bank to quote you how long it would take you to pay off the mortgage in terms of years and if you can increase this amount, this makes the term even shorter. I have take a few years of our mortgage with this alone
Every little bit helps!
0
Comments
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Well said Gianfranco (zola)! The amount you pay is the same, just the length shortens. Good on you, and a useful reminder to us
Feb 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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