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Low mortgage rates, so lets take a holiday and kill the debt
lazer-zxr
Posts: 453 Forumite
Hi all,
considering my mortgage rates have now fallen to 1.9%, I've decided to take a 5 month mortgage holiday (funded by an overpayments balance that had built up), and throw all mortgage payments and overpay my outstanding unsecured debt down.
This will allow my DFWB date to be brought forward from Aug 2020, to Feb 2017, paying off my outstanding 5.4% Yorkshire bank loan, and 3.8% M&S loan (in that order).
I'm just wondering if anyone can see any problems with this .... I'm a little bit excited now ... my DFWB date is in sight..... if this is the right course of action?
£41k done. £12k to go. :cool:
considering my mortgage rates have now fallen to 1.9%, I've decided to take a 5 month mortgage holiday (funded by an overpayments balance that had built up), and throw all mortgage payments and overpay my outstanding unsecured debt down.
This will allow my DFWB date to be brought forward from Aug 2020, to Feb 2017, paying off my outstanding 5.4% Yorkshire bank loan, and 3.8% M&S loan (in that order).
I'm just wondering if anyone can see any problems with this .... I'm a little bit excited now ... my DFWB date is in sight..... if this is the right course of action?
£41k done. £12k to go. :cool:
0
Comments
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well done on bringing that forward
makes perfect sense looking at interest rates 0
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