Mortgage Nearly Gone! 8 August 2015 at 8:47PM in Mortgage-Free Wannabe 4 replies 685 views

galacticgreen

We have been over paying our mortgage for the last few years and our balance is now less than our monthly payment, so the mortgage will be gone in September. We have an offset mortgage and will have paid it off about 9 years early. There is a £250 sealing fee and I was wondering if we left £1 owing in the mortgage account would we need to pay the £250 and is that even possible?

Alchemilla

Congratulations!

I don't know the answer but just ring and ask them.

what are your plans now?

Notfarfromtheborder

I've an offset mortgage with FD which has had through linked accounts a credit balance for 12 months, no issues, but get no interest paid.


Can keep the facility open for another 19 years

galacticgreen

Thank you. We're not sure what to do next. Wondered about buying somewhere to rent out but just not sure

jellyspots

Well done, we are in the same boat as of tomorrow.

My advise is don't rush into anything, let the savings increase for a wee bit.