A way to pay! Clear this mortgage before 30 years!

obay

So, submitted the application last night to a new firm, tomorrow they're sending out a valuation.. Quite happy how fast that was. also decided to fix for 5 years instead of 2, at 2.2% which is still much cheaper than what I am paying now.

jodles16

Hi Obay,

Amazing job on the mortgage! Absolutely fabulous!

I am glad to read that your health is improving alongside your company growing!

Jodles

obay

Just been given a break from my old mortgage firm. They don't want payment for another 6 weeks, which is nice as I've pre-paid for October now. So that makes me happy, by the time it comes about I should be switched over completely to the new firm!

obay

Our balance stands at £141,699.

Our new mortgage company I think will approve us at £143,000
That means there is a balance of £1301. What happens to this £1301? Is it lost forever?

gallygirl

The mortgage co should pay off your old mortgage and send you the balance, probably a good old fashioned cheque

Moneyfordreams

We got a bank transfer this year about 3 weeks after the mortgage was paid off (between houses) .

obay

Still waiting for the mortgage approval to happen, hopefully it'll approve tomorrow (seriously hope so!)

for the lol's I decided to put £36.88 on the mortgage, This took my balance down to £141,699.99. It's nice but as soon as the remortgage happens we're going straight up to £143,000. .

I'm sick, I've got massive man-flu issues at the moment, I'm coughing a lot too. So want to get to the doctors as quickly as possible, if I need to start preparing for the other outcome. (I know it's not something to think about but being sick for 2 weeks and constant coughing? - Probs being stupid.)

I got my alcohol license today, this would mean my wife's business can finally start moving as we're doing a mobile bar. Very happy that I'm licensed to sell Alcohol now. My ID looks murderous. I'm hoping that I can get ID' now just to show the person my personal alcohol license. (what a sad sad person I am.) lol

obay

Yay! Finally, the bank has offered us our remortgage! Meaning we're going from 5.24% (SVR) to 2.2%!! Saving near £300 per month in payments! What could you do with that extra amount? I haven't been struggling but I always want to save money..

Hopefully, we can remortgage within the next few weeks so we don't have to pay Kensington another months rent!

Words cannot describe how happy I am to finally be with a bank! (maybe not high street) but definitely a bank! lol

I can't believe how fast 2 years has gone!

gallygirl

Wow obay, that's quite some drop :T. Are you planning on paying the same amount?

obay

gallygirl wrote: »

Wow obay, that's quite some drop :T. Are you planning on paying the same amount?

I want to save up for a new kitchen, definitely want the kitchen done! I dropped my OP's quite a bit over the last year or so.

I will see how it is when we remortgage, but Christmas coming up also!