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Debate House Prices
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One in five mortgage holders are currently overpaying their loan each month
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Was overpaying 4k a month, now 400, with the cash going into a savings account instead.0
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Not everybody will be on a low rate at present. I fixed nearly 4 years ago, at 4.84%. So overpaying has made some sense, compared to savings in cash.0
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Like Yorkie we're overpaying and are on a fixed. Ours limits the amount you can repay anyway, but for us it is the right time to do it. It should mean that when our fix ends we have a minimal period and small sum for which we cannot predict future rates.
We are from the more prudent, less risk taking school, but that's ok. We'll never have the biggest house, nicest car or a swimming pool; but should have done enough to give a high degree of security going forward and that's our preferred position.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Not overpaying a penny here, but hey I am one the ones paying a nice margin to the bank and have no chance of getting a nice tracker like those before me.
Not yet anyway.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
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mayonnaise wrote: »Why not, Percy?
Clearing the credit card first.
As said I am paying at 5%, if my interest rate reduces I would keep paying the same amount, (or clear the credit card then overpay). If it went up no problem, I have stress tested to round 19%.
As said I haven't had the opportunity those before have had (and are still benefitting from), but I still have a while to go so things could change.
Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
I overpay by a modest amount, partially for security reasons and partially because I've built up enough that should everything go pear-shaped, I can take a three month payment break for about 5 years now.0
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mayonnaise wrote: »Yes, because you were up to your ears in debt when those nice trackers were available. So nothing to do with 'opportunity' really.
Not quite, even if I was debt free at the time they where giving them out my income wouldn't have been enough to buy a house at the prices they where.
Like the way you have adapted to up to my ears, glad you can finally acknowledge I was never over my head. Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
I overpay mine by as much as i can at the moment, only pay 200 a month more, but it makes sense to me at the moment, and makes a big dent in the LTV0
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