Mortgage Free in Three Yrs

Kaz2904

I phoned up my mortgage provider once to ask if I could pay with a credit card (I was thinking of the Tesco points!) and they said no as it was paying credit with credit.
Is there any way you can get cashback by balance transferring ie through egg money?
I have a bright new shiny sig that I think is going to dull down during the week as dh has spent well over the weekend and I've just had to pay out for a stag do he's going on. Keep up the good work peeps.

freebird65

Hooray!_I_have_remortgaged_from_the_rubbish_old_provider_to_a_new_(hopefully_less_rubbish)_provider,_Woolwich,_and_they_have_received_my_saved-up_overpayments._But_Woolwich_have_stopped_online_mortgage_account_access,..........quote wrote:

My online mortgage account access is fine .....just checked it. I know they're moving accounts over to Barclays, but it hasn't affected me...yet.

I'm going to add any Bootsing profits to my mortgage too - just need to find a way of converting points to cash.

EDIT: Have been onto all utilities and arranged for payments to be put down, refunds etc, OH has agreed any excess left in our household bills account can go towards mortgage - this will also make me more careful when shopping. I love this - feel like I have a new purpose. That might sound sad, but the thought of a mortgage free life has got me buzzing!

Desperate_Housewife_2-2

Hope you are all doing well guys.

I have a little tip to post which has just saved me a few bob and I'm feeling quite pleased with myself so I thought I'd share it.

I applied for a capital one credit card which has a 1.7% balance transfer fee and they have been really generous with the credit limit of £16000 so I have done a balance transfer for £15000 into my virgin one account (using the V1 visa).

So, as I have it until May 2008 I roughly calculated it out as this...

-£15000x1.7%divide by 100 =£255
-£15000x6.85%divide by 100 = £1027.50

which means I have saved £772.50 in interest payments!
OK I know its not for the full year but 10 months is ok by me so its more like a saving of £644 which is still good for me and I'm happy.

If anyone is new to stoozing, check out Martin's advice before starting as you could end up in a pickle. I've done it for years but stopped when the BT fee was introduced but this is a low rate, large amount and long period so I thought it was worth it for me.

Good luck everyone

Karmacat

Hi folks

I'd like to join in please - I know there's a cutoff now, and I want to get into this before it closes. I started repaying little amounts at the end of last year, on my Nationwide account - then realised that actually, with my lender being Nationwide, I could overpay big amounts, the £500 a month, and take it back again if I needed to (I'm self employed, so may need to if things go badly). I have other debts - a 0% credit card, and fixed rate loan (currently in my sig) but the mortgage is actually the most efficient debt to pay off. My endowment won't cover it anyway!

As the sig says, my mortgage was originally £43,000 - it stood at £42,900 as at 1 April, its now £41,900. I've been with you in spirit since then, even tho I've not been posting........ my aim is to .... I know, to get it down to £33,000, so paying off £10,000. I'm secretly hoping for much more than that, if my 2nd career pays off, but that will be plenty for now.

Dithering Dad, can I have a number please? I'll PM Tallgirl.

offgrid_2

In Canada you can use your RRSP (Retirement Savings Plan ) to pay off your full mortgage....

Here's how.... http://www.Mortgage-free.blogspot.com

LookAfterThePennies_4

Hi,
I realise I have have joined this thread rather late, but would it be possible for me to join in with the challenge?
Our mortgage is currently £56k and we are hoping to be mortgage-free by February 2010......................

Mushy61

then realised that actually, with my lender being Nationwide, I could overpay big amounts, the £500 a year, and take it back again if I needed to

Not sure if this was a typo or not but, I'm with the Nationwide and have a fixed rate product and can overpay £500 a month rather than a year

Dithering_Dad

offgrid wrote: »

In Canada you can use your RRSP (Retirement Savings Plan ) to pay off your full mortgage....

Here's how.... http://www.Mortgage-free.blogspot.com

Wow, that's fantastic!! Hey gang, let's all move our houses to Canada and then we can use our retirement fund to pay them off. We'll have to build a Canadian retirement fund first mind you, but that's just a minor point. I assume we then move our houses back to the UK?

I can't wait to laugh at my friends who haven't had the foresight to move their houses to Canada, build a Canadian retirement fund, use the fund to pay off their houses and then move their houses back to the UK. The fools!!! :rotfl:

p.s. Welcome to all the newbies!!

TallGirl

Yes also a big welcome from me to all newbies, I am sure you will find being part of this challenge will really motivate you.

I publish a chart on our progress every 3 months and the next one is due in early August. If you want to be added then please see post 2 but basically PM me your mortgage start balance (01.04.07) and what your mortgage is now (choose your own date just get it to me before the 5th August.

ptee

Gah! I just wrote a long post then my internet crashed and it didn't post, grr!:mad:

Lol, anyway.... Hi all, firstly I'd just like to say how impressed I've been with you all so far, good work people, it's a great inspiration!! :beer:

I was wondering if it would be ok if I joined the challenge if it's not too late?

I've been looking at repayment my (our) mortgage off early for some time now but hadn't planned on starting until January but due to the rising interest rates I've decided to take the plunge on jump on a 5yr fixed rate offset from YBS which is currently being processed.

Mortgage was roughly £145,000 in April but once the re-mortgage is complete it will be £146,000 (not a good start :eek:, lol!!)
According to my "bible", that is my offset spreadheet (one of many I've fiddle with over the last few months!), my target for 3yrs or April 2010 is £130,000 on the mortgage with £18,000 in savings offset against the mortgage so an effective mortgage of £112,000 :j

This is of course if everything goes to plan (when does anything go to plan;))

According to the bible I should be looking at Jan 2015 for paying it off completely but I'd like to pay it off quicker if possible! Though in 2015 I'll only be 35 so that would still be nice!! :beer:

Hope I'm not too late to join...

Ptee