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Probably a dumb question!
Apols if this is dumb - my normally active brain has been stuffed up with hayfever and I can't think straight! Am currently making overpayments of c.£200 month against a 5.19% fixed rate mortgage, which has a little over 2 years to go at fixed rate, then will go variable unless I fix again. It seems to me that I'd be…
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£17000 outstanding,Actual end date Dec 2026
Hi I bought this house in January 2002 for £50000,I am paying £1000 pcm towards my outstanding mortgage of £17000 that will finish by Dec 2009 (next year), I definitly want to move up the ladder and buy a new house. But the present credit crunch situation and the history attached to House price falls of (1991) I want to…
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Encouragement needed
Ok, so I was working part time and was quite happy getting by. My employers then gave me six notice of my job finishing but they had a full time job going and I could apply with the rest of the population. I have a mortgage and couldn't afford to be unemployed so applied and got the job which is the same job I was doing…
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Is it best to be mortgage free?
Hi all, Im looking for a little advice here. I have 7 years left on my mortgage and owe £19,000, I have saving that would clear it (with a little belt tightening first) but is it a wise move? Someone told me it was better to have a mortgage... I don't know why but I wanted to check this out. I am 34 and will be looking to…
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To Sell Or Not To Sell?
Hello-I am new to this so hope am asking this question in the right place. My partner and I are just about to make a big decision re. our houses and mortgages and are not sure if we have our sums right....we are both 38 and just settling down together...due to previous relationships/divorce we both have morgages and we…
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Overpay or save into reg saver
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Mortgage dilema - would love your opinions and help
Hi all, Wonder if a few of you could look at this and come up with some suggestions as I am really struggling coming to a decision - I owe £27,500 on my mortgage. I have a base rate tracker at 0.5% above base rate through Britannia Building Society. I paid off some mortgage some time ago and reduced the term and I now have…
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Northern Rock - "borrowing back" overpayments
We have a NR together mortgage - fixed at 5.89% until 1/12/08. We intend remortgaging in early 2009 We have recently been overpaying my mortgage and I am really chuffed about the snowball effect of my overpayments and how they are growing each month as my interest payment goes down We are planning to build andextension -…
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Dilemma / Advice
Ladies / Gents I'd like your opinion on my situaition. I decided last year I wanted to be mortgage free...mortgage then was 70k its now down to 50k through overpayments - I've worked out I can be mortgage free in 2 years time (I'll be 39years old). BUT, in this economical climate I wonder if now is the time to start saving…
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hello everyone - quick mortgage question
this may sound stoopid but here goes. we took out one 120k mortgage to buy our first house in 2005 we then paid 180k for a new house in 2007 by way of taking out an extra 47k mortgage. At highest point we owed 167k This is now down to 155k. Question is - when we remortage when the products run out in 2010, will we be…
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Paying Lump Sum Off Mortgage
We have recently moved house and took out a £28k repayment mortgage - tracker for 5 years at 7.0900%. We have been in for two months and were looking to decorate the house. However, we have approx £8000 and my sensible side is to pay it off the mortgage now. We are allowed to pay 10% of the outstanding balance per annum…
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offsetting savings against mortgage
Hi, I am new to this so any advice would be much appreciated. My fixed morgage with Halifax is coming to an end on 31st July 2008. My outstanding mortgage ballance is appr.59000. I have also got savings accounts (both ISA and IASA) with the total of 51000 pounds. As Halifax does not offer offset facilities, I decided to…
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C&G Overpayments
I have just taken out a C&G repayment mortgage (base rate +0.58% tracker). I want to start making monthly overpayments and can apparently do this on one of two bases: 1. Payments which do not decrease the mortgage's term but instead reduce the monthly payments due next time the interest rate on the mortgage changes; or 2.…
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Halifax Re-mortgage
I am after a little advice here. I am coming to the end of my fixed rate mortgage with Halifax and had decided to stay with them but move to another fixed rate they are offering. They sent me through all the key facts for their mortgage which is at a rate of 6.19% fixed for 3 years with a £699 product fee. After much…
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How big was your deposit?
I am intrigued as to how much deposit people can afford to put down on a house as we're currently saving for a deposit ourselves. So thought Id do my first poll... (I saw the interest rate thread and thought it was a useful thread!) :money:
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Mortgage and savings
Hi all, I'm brand new to the forum so am hoping for some help. I've only had my mortgage for around 2 months but I want to get rid of this £104,000 as quickly as possible. I'm with Mortgage Express and pay a rate of 6.99% fixed rate for 2 years. I pay £150 out of my wages to a sharesave scheme with the bank I work for and…
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Mortgage calculation help please!!
Hi all ! I am hoping some one may be able to help me work out some figures please.I have fiddled around with several calculaters with no concrete result-basically we have a 12 yr £50000 mortgage at 5.72% fixed for 3 yrs,started April 08.We are hoping to pay 10% of balance annually in next 3 yrs, ie, £5000 in first…
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Mortgage tool
Is there any such downloadable tool/website that will enable me to enter:* my mortgage amount, * months left, * (introductory/initial ) interest rate, * (main) interest rate, * date of change from intial to main rate... ....so it would allow me to see:* each months payments, * how much of that is interest * how much is…
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Which mortgage type?
Hi, I'm new to this forum and wondered if anyone could help me please? I currently have a fixed rate mortgage with the Abbey (4.69%), which is due to finish at the beginning of November. I was wondering if, due to the current high interest rate, it would be best for me to go for me to go for a rate matcher mortgage, such…
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Is there a Mortgage overpayment calcultor?
I'm making small overpayments at the moment, but I'd like to see how they're affecting the term (without having to phone the Woolwich every time I change them). Does anyone know of a calculator that can help me estimate the effect of overpayments?