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Reducing period of mortgagefrom 15 to 9years
hazel_rabbit
Posts: 6 Forumite
Choose/or change to a mortgage company which calculates the interest daily. Then agree with themto pay mortgages in 2 half-payments each month. Say your repayment was £900 then pay £450 on one date and the second £450 some 14 days later. you only have to find one extra half-payment. Mortgage finished in 9 years instead of 15. Nice!!
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Comments
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How did you find this out Hazel rabbit, and who are you using for this? Are they favourable rates?unsecured Debts at [strike]August 2007 £79,984[/strike] September £79,579 [STRIKE]Snowballing date July 2013[/STRIKE].
May 2009, £76,772 unsecured debts
DMP started Dec 2008, End date at start 2133!0 -
I'm about to re-mortgage tomorrow, with a flexible payments option, interest calculated daily, I dont fully inderstand how what you mean or how it works, although I am intrigued,
Could you give us some more additional information?
Cheers Baldy
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