Enjoy Locarr's interesting thread Elite

Bradley1984

jax.26 wrote: »

My DS says 'does that mean we pay less dig money now' . And 'how much of the house do we own'


lol lol lol

Haha i like the how much of the house do we own now...thats the sort of thing my little ones would say...

LEJC

jax.26 wrote: »

Do you have an offset mortgage? - if not, change to one now. It really does help to clear the mortgage sooner.
x

That is very true...however if you have a standard mortgage that doesnt have an early repayment penalty there is no need to swap....we repaid our mortgage about 5 years earlier by just chipping away at it and sending lumpsums when it was convenient and as a result have now just decided to re enter the mortgage market with a BTL flat which we would never have been in a position to consider if we had still had our repaid mortgage...

nerfdad

jax.26 wrote: »

Do you have an offset mortgage? - if not, change to one now. It really does help to clear the mortgage sooner.
x

Only if you don't live in your overdraft:o

nerfdad

Bradley1984 wrote: »

I havent got a date to say this, but I hope to one day lol

At least if you rent when the boiler goes the landlord has to pay to get it fixed:o to be honest we would of been better off never buying and ds3 would of had a house built for his needs:o:o

jax.26

LEJC wrote: »

That is very true...however if you have a standard mortgage that doesnt have an early repayment penalty there is no need to swap....we repaid our mortgage about 5 years earlier by just chipping away at it and sending lumpsums when it was convenient and as a result have now just decided to re enter the mortgage market with a BTL flat which we would never have been in a position to consider if we had still had our repaid mortgage...

Ye, but this is connected to all bank accounts so, you pay less interest on mortgage...which is the killer. So, less interest and you can make overpayments.

rhosynbach

well done jax hope you treat yourself next month with the extra money

Bradley1984

nerfdad wrote: »

At least if you rent when the boiler goes the landlord has to pay to get it fixed:o to be honest we would of been better off never buying and ds3 would of had a house built for his needs:o:o

Very true...we love the house we are in...large 3bed for well below market rent...helps that I used to work for the letting agent and know the landlord very well...

jax.26

nerfdad wrote: »

Only if you don't live in your overdraft:o

Very true! lol

nerfdad

jax.26 wrote: »

Ye, but this is connected to all bank accounts so, you pay less interest on mortgage...which is the killer. So, less interest and you can make overpayments.

Can I offset against the stash in my shed:o:eek::rotfl:

jax.26

rhosynbach wrote: »

well done jax hope you treat yourself next month with the extra money

Thanks


Going to put money away for new car and new roof...as I don't want to buy these now and be landed with a debt to pay!