Mortgage free wannabe

jellyspots

We have a mortgage with Santander and have 30 more payments to make. Our fixed deal runs out next September 2014 at a rate of 4.99% It will cost me £1400 to come of this deal but would it be best to stay and see what happens in September as we've only got about £35,000 to pay to date.

Just wanna be mortgage free!!

jellyspots

jellyspots wrote: »

We have a mortgage with Santander and have 30 more payments to make. Our fixed deal runs out next September 2014 at a rate of 4.99% It will cost me £1400 to come of this deal but would it be best to stay and see what happens in September as we've only got about £35,000 to pay to date.

Just wanna be mortgage free!!

Have decided to get our mortgage down from 2 yr 6months to 2 yrs by overpaying an extra £295.65 a month on top of our overpayments. It's going to be tough but would be really good to be mortgage free before my husbands 50th in April 2015

Then we can start saving for a well deserved holiday as always been camping in Uk and although we have had some fab holidays would really like to lie in a proper bed and have our own bathroom rather than walking down for a wee in the middle of the night! Lol

Fuzzy14

Check your paperwork however many fixed rate mortgages allow overpayments of up to 10% per annum without getting fined. So you could start your overpayments early!

jellyspots

Yep we can pay a further 10% of the outstanding balance of the mortgage, but probably won't have that amount what with the extra overpayments to bring it down. Will see what we have at the end of the year and add something to it. Our fixed rate ends sept 2014 @ 4.99% and then we only have a year left.