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a few questions about overpayments to mortgage
Hi I have a couple of questions about overpaying a mortgage 1. is it something you have to commit a monthly set amount to when you arrange it with your borrower e.g - i might be able to afford a couple of hundred one month and nothing the next month- can you just pay off variable amounts each month, or do you have to…
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Cash Isa or mortgage overpayment?
we've just finished renovation our house and by Septembers pay cheque will have cleared the debt we have left from this. I will then be in a position to overpay £700pcm off the mortgage, currently on 2 year fixed deal with Co-op at 5.09%. My question is and I know this is probably a no brainer for most but I get very…
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Last mortgage payment
The final payment of my Abbey repayment mortgage with Abbey is due mid June. They have said there is a #100 charge to end the mortgage. I'm assuming I'll need to pay to have the property deeds stored securely somewhere (with my bank ?) Could anybody offer any advice as to whether or not paying of the mortgage is the wisest…
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a point on overpaying
hello all, just a quickie that may be helpful to others. We have recently started overpaying our mortgage a couple hundred pounds a month (whatever we can afford at the end of the month). By chance I happened to phone our lenders (Nationwide) to see what this had changed our new mortgage term to so far. They advised me…
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What's Your Best Money Saving Tip?
Hi everyone I'm hoping to be MF in 3 years (£45K) and am currently saving every penny I can towards this (no other debts). I wondered what the best money saving tips are, and thought it would be fun if everyone could contribute in case I'm missing something :eek: Already I shop around for everything (shopping, household…
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Pay mortgage or save?
We have paid £10000 capital off our mortgage this year, (following a small inheritance) & are overpaying £200 each month to try to pay it off as soon as possible. There is approx £33000 remaining on the mortgage, over 12 years, and its' current mortgage deal is a capped rate of 5.6%, which is due to expire at the end of…
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MFW newbie - a few questions
Morning inspirational people. I'm a MFW newbie and wondered if you guys could help with some questions? I've had a look around the threads but am still not 100% of what I'm doing so thought I'd run it past experts :D Situation: Mortgage of £93,147.52 (pays both bits type of mortgage :) ) Fixed rate until 30th November 2008…
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Flights to New York
This is my first post on here and I would be so grateful if anyone can help! I am planning on going to New York for 5 nights in September with my girlfriend and we are currently looking at all the options for flights! We have been quoted anything within the price range £300 to £600 which according to some of the forums…
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Mortgage paid off
Ok. Well cheque for paying off mortgage has been sent. They have received the cheque and it shows up on my statement as cleared. Few days ago hubby phoned mortgage company to make sure they had received the cheque. Said they had but also said this months installment will be taken from bank account and any overpayment will…
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Help - fixed rate ending!
Be warned - it's failry long and slightly complicated! Dear All, I hope this is the right place to be posting this. DH and I have an outstanding mortgage of approx 121,500 GBP which from 1st June 2008 is no longer on the fixed rate of 5.39%. This means it will revert to the SVR of 7.49%. In short, our monthly payments will…
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Paying off mortgage
Sorry if this is on the wrong board but... I was left monies after my mum sadly died last year. I rang my mortgage company for a settlement figure which they duly sent me and I in return sent off the cheque to pay off my mortgage. After sending them two further letters requesting deeds I rang today to be told that they had…
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What is your current mortgage rate...
Thought this may be interesting to do as a poll. If you're in either extreme, eg < 4.00 or > 7.49, you may want to give your rate. I'm part way into a 5 year fix at a rate of 4.79% This followed on from a 2 year fix, also at 4.79% In hindsight, I think this was a good decision rather than go for shorter terms and pay…
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pay off mortgage or save in ISA
I've read all the articles and a fair few posts but I'm still not sure. The article is based on having spare cash after you've filled your monthly ISA allowance. Well that is £600 between us and I've given up work to look after babies so there is no way we have anything over that! So do we overpay on the mortgage or put…
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Mortgage Overpayment against ISA saving
Can anyone offer advise as to wether I am better putting £200.00 per month as an overpayment towards my mortgage or saving this in an ISA. Appreciate any advise
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A&L Overpayments
Can't seem to see the answer on A&L web and can't phone at the mo (in work) Can I set up a DD for an overpayment each month, say even £25? Rather than going into branch? I had thought of setting up an Isa but TBH I would just be tempted to take it out and spend it (happyshoppingfingers!) but if its paid into them by DD I…
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Overpayment calculator
Is there one that can show a breakdown for monthly overpayments AND lump sum payments?
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Offset,flexiable or normal?
Hi I have an Offset mortgage with Yorkshire BS and am on a deal of BOE base rate plus 0.75% so 5.75% but this deal will end in a few months.Not sure what the apr is on this. Looked on their website and their cheapest offsett for mortgage transefers is 7.2% apr and cheapest normal mortgage 6.9% apr. Done a few searches and…
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New Charges for Repayments
Hi, sorry if this is a bit newbie. I've got a C&G tracker which I've been making extra payments on whenever I could for the past few years (currently should be gone in about 4.5 years). I just made a capital repayment (which have always been free, that was one reason I chose the mortgage) but I've had notification that…
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Should I Clear my mortgage
I have a current mortgage of just under £70,000 and am on a fixed rate tracker until December 2010 with a % penalty for paying it off, 3% in the 1st year, then 2% etc etc. Due to the unfortunate death of a relative I should receive somewhere in the region of £85-£90,000. Now should I: 1. Clear the mortgage and incur any…
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help needed please
A bad day at work and looking at all your posts has inspired me to start overpaying on our mortgage - im 38 and want to be retired at 50!!!! The thing is i have no idea how to go about it. Some months i could manage extra other monthe not as much - do i have to agree to a regular monthly sum or just bits as and when. Is…