Mortgage Free in Three Yrs

angelavdavis

TallGirl wrote: »

Morning
Just to let you know that we usually do an update every 3 months so the next one is due after 30th June so please PM me and I will post the chart around the 14th July.

thanks TG. Looks like we r unlikely to exchange friday as all sorts of demands r now being made - 2 days prior to exchange! :-( We had used all possible options we could to protect ourselves from the current market, but you can't plan for everything. It appears the boiler installed when the house was built 8 years ago no longer conforms with gas installation stds, so they want us to bring it up to current stds. Having knocked 8% off the price for a quick sale (on a very tight margin) we can't start financing different works. I guess if they want the house, then they will in ahead. So it might be a zero owed update or end up being a 'i'm back on the tread-mill' update. Ange

Dithering_Dad

After paying for all the surveys and especially if they're in a chain, I doubt that they will pull out of the house sale due to this. They're just trying to get a free boiler out of you - stick to your guns!!

It does bring it all back though - all the stress and wrangling. I'm so glad that we're not planning on moving any time soon!

mountainlioness

I agree - stick to your guns if you can... though if the sale appears in doubt maybe an indemnity would be cheaper than a new boiler? (if that's possible) We paid for one for a missing certificate of some sort... irritating to have yet another expense but worth the £30 or so just to get the legals through...

ML

financialbliss

amazamum wrote: »

I have been looking at the halifax account that offers 10%gross pa,or 8% net pa,does anybody know about this account,how much can I put into it for the year and what kind of tax would I pay.
Thanks

Halifax monthly saver.

As already pointed out, there’s a lively thread ongoing in the savings and investment forums regarding this new Halifax 10% monthly saver.

Opened one last Monday on launch day, so if you don’t want to read through the entire thread, here’s a few answer to queries here.

Rate: 10% Hold an additional 5k in a nominated savings account for the 12 month term and get an additional 2% bonus, ie 12%.
Monthly amount: 25 to 500
Term: 12 months
#1 Gross interest (10% rate): 325.00
#1 Gross interest (12% rate): 390.00

#1 Assuming you're funding at a maximum of 500/pm.

Hope this help!

Financial Bliss.

angelavdavis

Well update on the exchange....

Have had the service done on the alarm and BG have been round to service the boiler. No problems with the ventilation, the engineer wrote that it met standards when the installation took place.

Have now emailed reports to solicitor.

This means we have addressed all points raised so hopefully, exchange will go ahead tomorrow with further problems. Fingers crossed!!!

Dithering_Dad

That's Brill Angela. Fingers crossed on that sale!

farhad1965

An update on my mortgage - after several hours of calls with the mortgage folk at First Direct, I have secured a 5.25% fixed rate for 2 years for £400,000 (only £798 fees plus £99 valuation from kerbside!). It took hours, as I had to keep explaining over and over again how I work and get paid as an IT contractor / Ltd Company director.

My current deal with the Woolwich runs out on 17th August and had I stayed with them I would be going from the current 4.99% to 6.1%, so it is a no-brainer taking up 5.25% for 2 years.

Current balance is £432k and I will be paying off £32k in August (from savings account), as FD maximum lending is £400k.

Quite excited, as I will be only £100k away from my target of £300k balance in the 3 year period.

setmefree2

Well done Farhad1965 - a good rate:T in the current climate IMHO

Dithering_Dad

Well done on the mortgage rate farhad, nice to see you're stil on target for the challenge too.

I have to say that I don't know how you sleep at night with a £400k mortgage hung around your neck!! :eek:

farhad1965

Dithering_Dad wrote: »

Well done on the mortgage rate farhad, nice to see you're stil on target for the challenge too.

I have to say that I don't know how you sleep at night with a £400k mortgage hung around your neck!! :eek:

I sleep pretty well. Get up at 6am to get to work and pay off the £400k. Target is 11 years and 9 months to clear it all.